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Michigan Powerball Jackpot Annuity Payout Schedule for Dec 17, 2011

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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 $89,700,000 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, Dec 17, 2011
Jackpot:$89,700,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,599,360$549,951$67,973$981,436
2$1,663,334$573,621$70,692$1,019,021
3$1,729,868$598,239$73,519$1,058,109
4$1,799,062$623,841$76,460$1,098,761
5$1,871,025$650,467$79,519$1,141,039
6$1,945,866$678,158$82,699$1,185,008
7$2,023,700$706,957$86,007$1,230,736
8$2,104,649$736,908$89,448$1,278,293
9$2,188,834$768,056$93,025$1,327,752
10$2,276,388$800,451$96,746$1,379,190
11$2,367,443$834,142$100,616$1,432,685
12$2,462,141$869,180$104,641$1,488,320
13$2,560,627$905,620$108,827$1,546,180
14$2,663,052$943,517$113,180$1,606,355
15$2,769,574$982,930$117,707$1,668,937
16$2,880,357$1,023,920$122,415$1,734,022
17$2,995,571$1,066,549$127,312$1,801,710
18$3,115,394$1,110,884$132,404$1,872,106
19$3,240,010$1,156,991$137,700$1,945,318
20$3,369,610$1,204,943$143,208$2,021,458
21$3,504,394$1,254,814$148,937$2,100,644
22$3,644,570$1,306,679$154,894$2,182,997
23$3,790,353$1,360,618$161,090$2,268,645
24$3,941,967$1,416,716$167,534$2,357,718
25$4,099,646$1,475,057$174,235$2,450,354
26$4,263,632$1,535,731$181,204$2,546,696
27$4,434,177$1,598,833$188,453$2,646,891
28$4,611,544$1,664,459$195,991$2,751,094
29$4,796,006$1,732,710$203,830$2,859,466
30$4,987,846$1,803,691$211,983$2,972,172
Total$89,700,000$31,934,633$3,812,249$53,953,113

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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.