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Michigan Mega Millions Jackpot Annuity Payout Schedule for Jan 10, 2023

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The tax information provided here is based on 2024 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $1,100,000,000 for a ticket purchased in Michigan, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

Michigan

Drawing Date:Tue, Jan 10, 2023
Jackpot:$1,100,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$16,556,579$6,084,122$703,655$9,768,802
2$17,384,408$6,390,419$738,837$10,255,152
3$18,253,628$6,712,030$775,779$10,765,819
4$19,166,310$7,049,722$814,568$11,302,019
5$20,124,624$7,404,299$855,297$11,865,029
6$21,130,856$7,776,604$898,061$12,456,190
7$22,187,399$8,167,525$942,964$13,076,909
8$23,296,769$8,577,992$990,113$13,728,664
9$24,461,608$9,008,983$1,039,618$14,413,007
10$25,684,688$9,461,522$1,091,599$15,131,566
11$26,968,922$9,936,689$1,146,179$15,886,054
12$28,317,368$10,435,614$1,203,488$16,678,266
13$29,733,237$10,959,485$1,263,663$17,510,089
14$31,219,899$11,509,550$1,326,846$18,383,503
15$32,780,893$12,087,118$1,393,188$19,300,587
16$34,419,938$12,693,565$1,462,847$20,263,526
17$36,140,935$13,330,334$1,535,990$21,274,611
18$37,947,982$13,998,941$1,612,789$22,336,251
19$39,845,380$14,700,978$1,693,429$23,450,973
20$41,837,650$15,438,118$1,778,100$24,621,431
21$43,929,532$16,212,115$1,867,005$25,850,412
22$46,126,009$17,024,811$1,960,355$27,140,842
23$48,432,309$17,878,142$2,058,373$28,495,794
24$50,853,924$18,774,140$2,161,292$29,918,493
25$53,396,620$19,714,937$2,269,356$31,412,327
26$56,066,452$20,702,775$2,382,824$32,980,853
27$58,869,775$21,740,004$2,501,965$34,627,805
28$61,813,263$22,829,095$2,627,064$36,357,104
29$64,903,926$23,972,640$2,758,417$38,172,869
30$68,149,123$25,173,363$2,896,338$40,079,422
Total$1,100,000,002$405,745,632$46,749,999$647,504,369

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.