USA Mega

Michigan Powerball Jackpot Annuity Payout Schedule for Jan 7, 2012

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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 $43,500,000 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:Sat, Jan 7, 2012
Jackpot:$43,500,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$775,609$245,163$32,963$497,483
2$806,634$256,642$34,282$515,710
3$838,899$268,580$35,653$534,665
4$872,455$280,996$37,079$554,380
5$907,353$293,908$38,563$574,882
6$943,647$307,337$40,105$596,205
7$981,393$321,303$41,709$618,381
8$1,020,649$335,828$43,378$641,444
9$1,061,475$350,933$45,113$665,429
10$1,103,934$366,643$46,917$690,373
11$1,148,091$382,982$48,794$716,316
12$1,194,015$399,973$50,746$743,296
13$1,241,775$417,645$52,775$771,355
14$1,291,447$436,023$54,886$800,537
15$1,343,104$455,136$57,082$830,886
16$1,396,829$475,014$59,365$862,449
17$1,452,702$495,687$61,740$895,274
18$1,510,810$517,187$64,209$929,413
19$1,571,242$539,547$66,778$964,917
20$1,634,092$562,802$69,449$1,001,841
21$1,699,456$586,986$72,227$1,040,242
22$1,767,434$612,138$75,116$1,080,180
23$1,838,131$638,296$78,121$1,121,714
24$1,911,656$665,501$81,245$1,164,910
25$1,988,123$693,793$84,495$1,209,834
26$2,067,647$723,217$87,875$1,256,555
27$2,150,353$753,819$91,390$1,305,145
28$2,236,368$785,644$95,046$1,355,678
29$2,325,822$818,742$98,847$1,408,233
30$2,418,855$853,164$102,801$1,462,890
Total$43,500,000$14,840,629$1,848,749$26,810,617

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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.