USA Mega
Home of Mega Millions and Powerball, the USA's biggest multi-state lottery games.
Marketplace

Powerball Annuity Jackpot Analysis for Michigan

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

The Powerball annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $80,000,000 would be for a resident of 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 final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Michigan

Drawing Date:  Wed, May 25, 2016
Jackpot:$80,000,000
Federal Tax:  25%
State Tax:4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,204,115$301,029$51,175$851,911
2$1,264,321$316,080$53,734$894,507
3$1,327,537$331,884$56,420$939,232
4$1,393,913$348,478$59,241$986,194
5$1,463,609$365,902$62,203$1,035,503
6$1,536,790$384,197$65,314$1,087,279
7$1,613,629$403,407$68,579$1,141,643
8$1,694,310$423,578$72,008$1,198,725
9$1,779,026$444,757$75,609$1,258,661
10$1,867,977$466,994$79,389$1,321,594
11$1,961,376$490,344$83,358$1,387,674
12$2,059,445$514,861$87,526$1,457,057
13$2,162,417$540,604$91,903$1,529,910
14$2,270,538$567,635$96,498$1,606,406
15$2,384,065$596,016$101,323$1,686,726
16$2,503,268$625,817$106,389$1,771,062
17$2,628,432$657,108$111,708$1,859,615
18$2,759,853$689,963$117,294$1,952,596
19$2,897,846$724,461$123,158$2,050,226
20$3,042,738$760,685$129,316$2,152,737
21$3,194,875$798,719$135,782$2,260,374
22$3,354,619$838,655$142,571$2,373,393
23$3,522,350$880,587$149,700$2,492,062
24$3,698,467$924,617$157,185$2,616,666
25$3,883,391$970,848$165,044$2,747,499
26$4,077,560$1,019,390$173,296$2,884,874
27$4,281,438$1,070,360$181,961$3,029,117
28$4,495,510$1,123,878$191,059$3,180,573
29$4,720,286$1,180,071$200,612$3,339,602
30$4,956,300$1,239,075$210,643$3,506,582
Total$80,000,000$20,000,000$3,400,000$56,600,000
<( Back )Powerball Jackpot Analysis
(Current Drawing)
Top ^



Accuracy Statement  |  Advertise  |  Privacy Policy  |  Site Map  |  Terms of Use
Copyright © 1999-2016 Speednet Group.  All rights reserved.