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Michigan Powerball Jackpot Annuity Payout Schedule for Sep 11, 2002

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The tax information provided here is based on 2025 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 $87,000,000 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 money, as well as deductions claimed.

State:

Michigan

Drawing Date:Wed, Sep 11, 2002
Jackpot:$87,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,551,219$530,971$65,927$954,321
2$1,613,267$553,929$68,564$990,774
3$1,677,798$577,806$71,306$1,028,686
4$1,744,910$602,637$74,159$1,068,114
5$1,814,706$628,462$77,125$1,109,120
6$1,887,295$655,319$80,210$1,151,765
7$1,962,786$683,251$83,418$1,196,117
8$2,041,298$712,300$86,755$1,242,242
9$2,122,950$742,512$90,225$1,290,213
10$2,207,868$773,931$93,834$1,340,102
11$2,296,183$806,608$97,588$1,391,987
12$2,388,030$840,591$101,491$1,445,947
13$2,483,551$875,934$105,551$1,502,066
14$2,582,893$912,691$109,773$1,560,429
15$2,686,209$950,917$114,164$1,621,127
16$2,793,657$990,673$118,730$1,684,253
17$2,905,403$1,032,020$123,480$1,749,904
18$3,021,620$1,075,019$128,419$1,818,181
19$3,142,484$1,119,739$133,556$1,889,189
20$3,268,184$1,166,248$138,898$1,963,038
21$3,398,911$1,214,617$144,454$2,039,840
22$3,534,867$1,264,921$150,232$2,119,714
23$3,676,262$1,317,237$156,241$2,202,784
24$3,823,313$1,371,646$162,491$2,289,176
25$3,976,245$1,428,231$168,990$2,379,024
26$4,135,295$1,487,079$175,750$2,472,466
27$4,300,707$1,548,282$182,780$2,569,645
28$4,472,735$1,611,932$190,091$2,670,712
29$4,651,644$1,678,129$197,695$2,775,821
30$4,837,710$1,746,973$205,603$2,885,135
Total$87,000,000$30,900,605$3,697,500$52,401,892

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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.