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 $102,000,000 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:  Sat, Oct 24, 2020
Jackpot:$102,000,000
Federal Tax:  24%
State Tax:4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,535,246$368,459$65,248$1,101,539
2$1,612,009$386,882$68,510$1,156,616
3$1,692,609$406,226$71,936$1,214,447
4$1,777,240$426,538$75,533$1,275,169
5$1,866,102$447,864$79,309$1,338,928
6$1,959,407$470,258$83,275$1,405,874
7$2,057,377$493,770$87,439$1,476,168
8$2,160,246$518,459$91,810$1,549,976
9$2,268,258$544,382$96,401$1,627,475
10$2,381,671$571,601$101,221$1,708,849
11$2,500,755$600,181$106,282$1,794,291
12$2,625,792$630,190$111,596$1,884,006
13$2,757,082$661,700$117,176$1,978,206
14$2,894,936$694,785$123,035$2,077,117
15$3,039,683$729,524$129,187$2,180,972
16$3,191,667$766,000$135,646$2,290,021
17$3,351,250$804,300$142,428$2,404,522
18$3,518,813$844,515$149,550$2,524,748
19$3,694,753$886,741$157,027$2,650,986
20$3,879,491$931,078$164,878$2,783,535
21$4,073,466$977,632$173,122$2,922,712
22$4,277,139$1,026,513$181,778$3,068,847
23$4,490,996$1,077,839$190,867$3,222,290
24$4,715,546$1,131,731$200,411$3,383,404
25$4,951,323$1,188,318$210,431$3,552,574
26$5,198,889$1,247,733$220,953$3,730,203
27$5,458,834$1,310,120$232,000$3,916,713
28$5,731,775$1,375,626$243,600$4,112,549
29$6,018,364$1,444,407$255,780$4,318,176
30$6,319,282$1,516,628$268,569$4,534,085
Total$102,000,000$24,480,000$4,335,000$73,185,000
<( Back )Powerball Jackpot Analysis
(Current Drawing)
Top ^



Accuracy Statement  |  Advertise  |  Privacy Policy  |  Site Map  |  DMCA  |  Terms of Use
Copyright © 1999-2020 Speednet Group.  All rights reserved.