USA Mega

Michigan Powerball Jackpot Annuity Payout Schedule for Jun 2, 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 $158,800,000 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, Jun 2, 2012
Jackpot:$158,800,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,831,420$1,005,813$120,335$1,705,271
2$2,944,677$1,047,718$125,149$1,771,810
3$3,062,464$1,091,299$130,155$1,841,010
4$3,184,962$1,136,624$135,361$1,912,978
5$3,312,361$1,183,761$140,775$1,987,824
6$3,444,855$1,232,784$146,406$2,065,665
7$3,582,649$1,283,768$152,263$2,146,619
8$3,725,955$1,336,791$158,353$2,230,811
9$3,874,993$1,391,935$164,687$2,318,371
10$4,029,993$1,449,285$171,275$2,409,433
11$4,191,193$1,508,929$178,126$2,504,138
12$4,358,841$1,570,959$185,251$2,602,631
13$4,533,194$1,635,470$192,661$2,705,064
14$4,714,522$1,702,561$200,367$2,811,594
15$4,903,103$1,772,336$208,382$2,922,385
16$5,099,227$1,844,902$216,717$3,037,608
17$5,303,196$1,920,370$225,386$3,157,440
18$5,515,324$1,998,858$234,401$3,282,065
19$5,735,937$2,080,484$243,777$3,411,675
20$5,965,374$2,165,376$253,528$3,546,470
21$6,203,989$2,253,664$263,670$3,686,656
22$6,452,149$2,345,483$274,216$3,832,450
23$6,710,235$2,440,975$285,185$3,984,075
24$6,978,644$2,540,286$296,592$4,141,766
25$7,257,790$2,643,570$308,456$4,305,764
26$7,548,102$2,750,985$320,794$4,476,322
27$7,850,026$2,862,697$333,626$4,653,702
28$8,164,027$2,978,878$346,971$4,838,178
29$8,490,588$3,099,705$360,850$5,030,033
30$8,830,211$3,225,366$375,284$5,229,561
Total$158,800,000$57,501,632$6,748,999$94,549,369

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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.