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Michigan Powerball Jackpot Annuity Payout Schedule for Feb 6, 2023

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The tax information provided here is based on 2022 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 Powerball 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 $747,000,000 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 prize money, as well as deductions claimed.

State:

Michigan

Drawing Date:Mon, Feb 6, 2023
Jackpot:$747,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$11,243,422$4,123,021$477,845$6,642,555
2$11,805,593$4,331,024$501,738$6,972,831
3$12,395,873$4,549,428$526,825$7,319,620
4$13,015,667$4,778,752$553,166$7,683,749
5$13,666,449$5,019,541$580,824$8,066,084
6$14,349,772$5,272,371$609,865$8,467,536
7$15,067,261$5,537,842$640,359$8,889,061
8$15,820,624$5,816,586$672,377$9,331,662
9$16,611,655$6,109,267$705,995$9,796,392
10$17,442,238$6,416,583$741,295$10,284,360
11$18,314,350$6,739,264$778,360$10,796,726
12$19,230,067$7,078,080$817,278$11,334,710
13$20,191,571$7,433,836$858,142$11,899,593
14$21,201,149$7,807,380$901,049$12,492,720
15$22,261,207$8,199,601$946,101$13,115,504
16$23,374,267$8,611,434$993,406$13,769,427
17$24,542,980$9,043,858$1,043,077$14,456,046
18$25,770,129$9,497,903$1,095,230$15,176,996
19$27,058,636$9,974,650$1,149,992$15,933,993
20$28,411,568$10,475,235$1,207,492$16,728,841
21$29,832,146$11,000,849$1,267,866$17,563,431
22$31,323,753$11,552,744$1,331,260$18,439,750
23$32,889,941$12,132,233$1,397,822$19,359,885
24$34,534,437$12,740,697$1,467,714$20,326,027
25$36,261,159$13,379,584$1,541,099$21,340,476
26$38,074,218$14,050,416$1,618,154$22,405,648
27$39,977,929$14,754,789$1,699,062$23,524,078
28$41,976,825$15,494,380$1,784,015$24,698,429
29$44,075,666$16,270,951$1,873,216$25,931,499
30$46,279,450$17,086,351$1,966,877$27,226,222
Total$747,000,001$275,278,650$31,747,501$439,973,851

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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.