USA Mega

Michigan Powerball Jackpot Annuity Payout Schedule for Nov 30, 2011

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $30,000,000 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, Nov 30, 2011
Jackpot:$30,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$534,903$157,591$22,733$354,579
2$556,299$165,079$23,643$367,577
3$578,551$172,868$24,588$381,095
4$601,693$180,967$25,572$395,154
5$625,761$189,719$26,595$409,447
6$650,791$198,981$27,659$424,152
7$676,823$208,612$28,765$439,446
8$703,896$218,629$29,916$455,351
9$732,052$229,047$31,112$471,893
10$761,334$239,881$32,357$489,096
11$791,787$251,149$33,651$506,987
12$823,459$262,867$34,997$525,594
13$856,397$275,055$36,397$544,945
14$890,653$287,729$37,853$565,071
15$926,279$300,911$39,367$586,001
16$963,330$314,620$40,942$607,769
17$1,001,863$328,877$42,579$630,407
18$1,041,938$343,705$44,282$653,951
19$1,083,615$359,125$46,054$678,436
20$1,126,960$375,163$47,896$703,901
21$1,172,038$391,842$49,812$730,385
22$1,218,920$409,188$51,804$757,928
23$1,267,677$427,228$53,876$786,572
24$1,318,384$445,990$56,031$816,363
25$1,371,119$465,502$58,273$847,345
26$1,425,964$485,794$60,603$879,566
27$1,483,002$506,899$63,028$913,076
28$1,542,322$528,847$65,549$947,927
29$1,604,015$551,673$68,171$984,171
30$1,668,176$575,413$70,897$1,021,866
Total$30,000,000$9,848,951$1,275,002$18,876,051

◄ Back to Jackpot Analysis

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.