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

Powerball Annuity Jackpot Analysis for Michigan (Nov. 10, 2018 Drawing)

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 $92,000,000 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:  Nov. 10, 2018
Jackpot:$92,000,000
Federal Tax:  24%
State Tax:4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,384,732$332,336$58,851$993,545
2$1,453,969$348,952$61,794$1,043,223
3$1,526,667$366,400$64,883$1,095,384
4$1,603,000$384,720$68,128$1,150,153
5$1,683,150$403,956$71,534$1,207,660
6$1,767,308$424,154$75,111$1,268,043
7$1,855,673$445,362$78,866$1,331,446
8$1,948,457$467,630$82,809$1,398,018
9$2,045,880$491,011$86,950$1,467,919
10$2,148,174$515,562$91,297$1,541,315
11$2,255,583$541,340$95,862$1,618,381
12$2,368,362$568,407$100,655$1,699,300
13$2,486,780$596,827$105,688$1,784,264
14$2,611,119$626,669$110,973$1,873,478
15$2,741,675$658,002$116,521$1,967,152
16$2,878,758$690,902$122,347$2,065,509
17$3,022,696$725,447$128,465$2,168,785
18$3,173,831$761,719$134,888$2,277,224
19$3,332,523$799,805$141,632$2,391,085
20$3,499,149$839,796$148,714$2,510,639
21$3,674,106$881,786$156,150$2,636,171
22$3,857,812$925,875$163,957$2,767,980
23$4,050,702$972,169$172,155$2,906,379
24$4,253,237$1,020,777$180,763$3,051,698
25$4,465,899$1,071,816$189,801$3,204,283
26$4,689,194$1,125,407$199,291$3,364,497
27$4,923,654$1,181,677$209,255$3,532,722
28$5,169,837$1,240,761$219,718$3,709,358
29$5,428,328$1,302,799$230,704$3,894,826
30$5,699,745$1,367,939$242,239$4,089,567
Total$92,000,000$22,080,000$3,910,000$66,010,000
<( Back )Powerball Jackpot Analysis
(Current Drawing)
Top ^



Accuracy Statement  |  Advertise  |  Privacy Policy  |  Site Map  |  DMCA  |  Terms of Use
Copyright © 1999-2019 Speednet Group.  All rights reserved.