USA Mega

Michigan Mega Millions Jackpot Annuity Payout Schedule for Sep 12, 2023

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $141,000,000 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, Sep 12, 2023
Jackpot:$141,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,122,252$743,421$90,196$1,288,635
2$2,228,365$782,683$94,706$1,350,977
3$2,339,783$823,908$99,441$1,416,435
4$2,456,772$867,194$104,413$1,485,166
5$2,579,611$912,644$109,633$1,557,334
6$2,708,592$960,367$115,115$1,633,110
7$2,844,021$1,010,476$120,871$1,712,675
8$2,986,222$1,063,090$126,914$1,796,218
9$3,135,533$1,118,335$133,260$1,883,938
10$3,292,310$1,176,342$139,923$1,976,044
11$3,456,925$1,237,250$146,919$2,072,756
12$3,629,772$1,301,203$154,265$2,174,303
13$3,811,260$1,368,354$161,979$2,280,928
14$4,001,823$1,438,862$170,077$2,392,883
15$4,201,914$1,512,896$178,581$2,510,437
16$4,412,010$1,590,632$187,510$2,633,868
17$4,632,611$1,672,254$196,886$2,763,471
18$4,864,241$1,757,957$206,730$2,899,554
19$5,107,453$1,847,945$217,067$3,042,441
20$5,362,826$1,942,433$227,920$3,192,473
21$5,630,967$2,041,646$239,316$3,350,006
22$5,912,516$2,145,819$251,282$3,515,415
23$6,208,141$2,255,200$263,846$3,689,095
24$6,518,548$2,370,051$277,038$3,871,459
25$6,844,476$2,490,644$290,890$4,062,942
26$7,186,700$2,617,267$305,435$4,263,998
27$7,546,035$2,750,221$320,706$4,475,108
28$7,923,336$2,889,822$336,742$4,696,772
29$8,319,503$3,036,404$353,579$4,929,520
30$8,735,478$3,190,315$371,258$5,173,906
Total$141,000,000$50,915,635$5,992,498$84,091,867

◄ Back to Jackpot Analysis

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.