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

Powerball Annuity Jackpot Analysis for Michigan (Apr. 20, 2019 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 $136,000,000 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:  Apr. 20, 2019
Jackpot:$136,000,000
Federal Tax:  24%
State Tax:4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,046,995$491,279$86,997$1,468,719
2$2,149,345$515,843$91,347$1,542,155
3$2,256,812$541,635$95,915$1,619,263
4$2,369,653$568,717$100,710$1,700,226
5$2,488,135$597,152$105,746$1,785,237
6$2,612,542$627,010$111,033$1,874,499
7$2,743,169$658,361$116,585$1,968,224
8$2,880,328$691,279$122,414$2,066,635
9$3,024,344$725,843$128,535$2,169,967
10$3,175,561$762,135$134,961$2,278,465
11$3,334,339$800,241$141,709$2,392,389
12$3,501,056$840,254$148,795$2,512,008
13$3,676,109$882,266$156,235$2,637,608
14$3,859,915$926,380$164,046$2,769,489
15$4,052,910$972,699$172,249$2,907,963
16$4,255,556$1,021,333$180,861$3,053,361
17$4,468,334$1,072,400$189,904$3,206,029
18$4,691,750$1,126,020$199,399$3,366,331
19$4,926,338$1,182,321$209,369$3,534,647
20$5,172,655$1,241,437$219,838$3,711,380
21$5,431,288$1,303,509$230,830$3,896,949
22$5,702,852$1,368,684$242,371$4,091,796
23$5,987,995$1,437,119$254,490$4,296,386
24$6,287,394$1,508,975$267,214$4,511,205
25$6,601,764$1,584,423$280,575$4,736,766
26$6,931,852$1,663,645$294,604$4,973,604
27$7,278,445$1,746,827$309,334$5,222,284
28$7,642,367$1,834,168$324,801$5,483,398
29$8,024,485$1,925,876$341,041$5,757,568
30$8,425,710$2,022,170$358,093$6,045,447
Total$136,000,000$32,640,000$5,780,000$97,580,000
<( 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.