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Michigan Powerball Jackpot Annuity Payout Schedule for Jun 29, 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 $77,100,000 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, Jun 29, 2011
Jackpot:$77,100,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,374,701$466,827$58,425$849,449
2$1,429,689$487,173$60,762$881,754
3$1,486,876$508,332$63,192$915,352
4$1,546,351$530,338$65,720$950,294
5$1,608,205$553,224$68,349$986,633
6$1,672,534$577,025$71,083$1,024,426
7$1,739,435$601,779$73,926$1,063,730
8$1,809,012$627,522$76,883$1,104,607
9$1,881,373$654,296$79,958$1,147,119
10$1,956,628$682,140$83,157$1,191,331
11$2,034,893$711,098$86,483$1,237,312
12$2,116,288$741,214$89,942$1,285,132
13$2,200,940$772,536$93,540$1,334,865
14$2,288,978$805,109$97,282$1,386,587
15$2,380,537$838,986$101,173$1,440,378
16$2,475,758$874,218$105,220$1,496,320
17$2,574,789$910,860$109,429$1,554,501
18$2,677,780$948,966$113,806$1,615,008
19$2,784,891$988,598$118,358$1,677,936
20$2,896,287$1,029,814$123,092$1,743,381
21$3,012,138$1,072,679$128,016$1,811,444
22$3,132,624$1,117,259$133,137$1,882,229
23$3,257,929$1,163,621$138,462$1,955,845
24$3,388,246$1,211,839$144,000$2,032,407
25$3,523,776$1,261,985$149,760$2,112,031
26$3,664,727$1,314,137$155,751$2,194,839
27$3,811,316$1,368,375$161,981$2,280,960
28$3,963,769$1,424,782$168,460$2,370,526
29$4,122,319$1,483,446$175,199$2,463,675
30$4,287,212$1,544,456$182,207$2,560,549
Total$77,100,000$27,272,634$3,276,753$46,550,620

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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.