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Michigan Powerball Jackpot Annuity Payout Schedule for May 18, 2005

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The tax information provided here is based on 2024 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 $130,500,000 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, May 18, 2005
Jackpot:$130,500,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,326,828$819,114$98,890$1,408,824
2$2,419,901$853,551$102,846$1,463,504
3$2,516,697$889,366$106,960$1,520,372
4$2,617,365$926,613$111,238$1,579,514
5$2,722,060$965,350$115,688$1,641,022
6$2,830,942$1,005,636$120,315$1,704,991
7$2,944,180$1,047,534$125,128$1,771,518
8$3,061,947$1,091,108$130,133$1,840,706
9$3,184,425$1,136,425$135,338$1,912,662
10$3,311,802$1,183,554$140,752$1,987,496
11$3,444,274$1,232,569$146,382$2,065,323
12$3,582,045$1,283,544$152,237$2,146,264
13$3,725,326$1,336,559$158,326$2,230,442
14$3,874,340$1,391,693$164,659$2,317,987
15$4,029,313$1,449,034$171,246$2,409,034
16$4,190,486$1,508,667$178,096$2,503,723
17$4,358,105$1,570,687$185,219$2,602,199
18$4,532,429$1,635,187$192,628$2,704,614
19$4,713,726$1,702,267$200,333$2,811,127
20$4,902,276$1,772,030$208,347$2,921,899
21$5,098,367$1,844,583$216,681$3,037,103
22$5,302,301$1,920,039$225,348$3,156,914
23$5,514,393$1,998,513$234,362$3,281,518
24$5,734,969$2,080,126$243,736$3,411,107
25$5,964,368$2,165,004$253,486$3,545,878
26$6,202,942$2,253,276$263,625$3,686,041
27$6,451,060$2,345,080$274,170$3,831,810
28$6,709,103$2,440,556$285,137$3,983,410
29$6,977,467$2,539,850$296,542$4,141,074
30$7,256,565$2,643,117$308,404$4,305,044
Total$130,500,000$47,030,632$5,546,252$77,923,120

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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.