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Michigan Mega Millions Jackpot Annuity Payout Schedule for Sep 19, 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 $183,000,000 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 19, 2023
Jackpot:$183,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,754,413$977,320$117,063$1,660,030
2$2,892,133$1,028,277$122,916$1,740,941
3$3,036,740$1,081,782$129,061$1,825,897
4$3,188,577$1,137,961$135,515$1,915,101
5$3,348,006$1,196,950$142,290$2,008,766
6$3,515,406$1,258,888$149,405$2,107,113
7$3,691,176$1,323,923$156,875$2,210,378
8$3,875,735$1,392,210$164,719$2,318,807
9$4,069,522$1,463,911$172,955$2,432,656
10$4,272,998$1,539,197$181,602$2,552,199
11$4,486,648$1,618,247$190,683$2,677,718
12$4,710,980$1,701,250$200,217$2,809,513
13$4,946,529$1,788,404$210,227$2,947,898
14$5,193,856$1,879,914$220,739$3,093,203
15$5,453,549$1,976,001$231,776$3,245,772
16$5,726,226$2,076,891$243,365$3,405,970
17$6,012,537$2,182,827$255,533$3,574,178
18$6,313,164$2,294,059$268,309$3,750,796
19$6,628,822$2,410,852$281,725$3,936,245
20$6,960,264$2,533,485$295,811$4,130,967
21$7,308,277$2,662,250$310,602$4,335,425
22$7,673,691$2,797,453$326,132$4,550,105
23$8,057,375$2,939,417$342,438$4,775,520
24$8,460,244$3,088,478$359,560$5,012,205
25$8,883,256$3,244,992$377,538$5,260,725
26$9,327,419$3,409,333$396,415$5,521,671
27$9,793,790$3,581,890$416,236$5,795,664
28$10,283,479$3,763,075$437,048$6,083,356
29$10,797,653$3,953,319$458,900$6,385,433
30$11,337,536$4,153,076$481,845$6,702,615
Total$183,000,000$66,455,632$7,777,500$108,766,867

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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.