USA Mega

Michigan Powerball Jackpot Annuity Payout Schedule for Jul 2, 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 $20,000,000 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, Jul 2, 2011
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$356,602$95,185$15,156$246,261
2$370,866$100,178$15,762$254,926
3$385,701$105,370$16,392$263,938
4$401,129$110,770$17,048$273,311
5$417,174$116,386$17,730$283,058
6$433,861$122,226$18,439$293,196
7$451,215$128,300$19,177$303,739
8$469,264$134,617$19,944$314,703
9$488,034$141,187$20,741$326,106
10$507,556$148,019$21,571$337,965
11$527,858$155,125$22,434$350,299
12$548,972$162,515$23,331$363,126
13$570,931$170,201$24,265$376,466
14$593,769$178,194$25,235$390,340
15$617,519$186,670$26,245$404,605
16$642,220$195,809$27,294$419,117
17$667,909$205,314$28,386$434,209
18$694,625$215,199$29,522$449,905
19$722,410$225,480$30,702$466,228
20$751,307$236,171$31,931$483,205
21$781,359$247,291$33,208$500,861
22$812,613$258,855$34,536$519,223
23$845,118$270,881$35,918$538,319
24$878,922$283,389$37,354$558,179
25$914,079$296,397$38,848$578,834
26$950,643$309,925$40,402$600,315
27$988,668$323,995$42,018$622,655
28$1,028,215$338,627$43,699$645,889
29$1,069,344$353,845$45,447$670,052
30$1,112,117$369,671$47,265$695,181
Total$20,000,000$6,185,792$850,000$12,964,211

◄ 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.