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Michigan Powerball Jackpot Annuity Payout Schedule for May 14, 2005

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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 $112,000,000 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:Sat, May 14, 2005
Jackpot:$112,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,996,971$695,900$84,871$1,216,200
2$2,076,850$725,455$88,266$1,263,129
3$2,159,924$756,192$91,797$1,311,935
4$2,246,321$788,159$95,469$1,362,693
5$2,336,174$821,405$99,287$1,415,482
6$2,429,621$855,980$103,259$1,470,382
7$2,526,806$891,938$107,389$1,527,478
8$2,627,878$929,335$111,685$1,586,858
9$2,732,993$968,228$116,152$1,648,613
10$2,842,313$1,008,676$120,798$1,712,838
11$2,956,005$1,050,742$125,630$1,779,633
12$3,074,245$1,094,491$130,655$1,849,099
13$3,197,215$1,139,990$135,882$1,921,344
14$3,325,104$1,187,309$141,317$1,996,478
15$3,458,108$1,236,520$146,970$2,074,618
16$3,596,432$1,287,700$152,848$2,155,884
17$3,740,289$1,340,927$158,962$2,240,400
18$3,889,901$1,396,284$165,321$2,328,297
19$4,045,497$1,453,854$171,934$2,419,709
20$4,207,317$1,513,728$178,811$2,514,778
21$4,375,610$1,575,996$185,963$2,613,650
22$4,550,634$1,640,755$193,402$2,716,477
23$4,732,659$1,708,104$201,138$2,823,417
24$4,921,966$1,778,148$209,184$2,934,635
25$5,118,844$1,850,993$217,551$3,050,301
26$5,323,598$1,926,752$226,253$3,170,594
27$5,536,542$2,005,541$235,303$3,295,698
28$5,758,004$2,087,482$244,715$3,425,807
29$5,988,324$2,172,700$254,504$3,561,120
30$6,227,857$2,261,327$264,684$3,701,846
Total$112,000,000$40,150,611$4,760,000$67,089,393

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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.