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Michigan Powerball Jackpot Annuity Payout Schedule for Jun 6, 2012

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The tax information provided here is based on 2022 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 $179,700,000 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:Wed, Jun 6, 2012
Jackpot:$179,700,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,204,069$1,148,460$136,173$1,919,435
2$3,332,232$1,195,881$141,620$1,994,731
3$3,465,521$1,245,198$147,285$2,073,038
4$3,604,142$1,296,487$153,176$2,154,478
5$3,748,307$1,349,829$159,303$2,239,176
6$3,898,240$1,405,304$165,675$2,327,261
7$4,054,169$1,462,998$172,302$2,418,869
8$4,216,336$1,522,999$179,194$2,514,142
9$4,384,989$1,585,401$186,362$2,613,226
10$4,560,389$1,650,299$193,817$2,716,274
11$4,742,805$1,717,793$201,569$2,823,443
12$4,932,517$1,787,986$209,632$2,934,899
13$5,129,817$1,860,987$218,017$3,050,813
14$5,335,010$1,936,909$226,738$3,171,363
15$5,548,411$2,015,867$235,807$3,296,736
16$5,770,347$2,097,983$245,240$3,427,124
17$6,001,161$2,183,384$255,049$3,562,727
18$6,241,207$2,272,202$265,251$3,703,754
19$6,490,856$2,364,572$275,861$3,850,423
20$6,750,490$2,460,636$286,896$4,002,958
21$7,020,509$2,560,543$298,372$4,161,594
22$7,301,330$2,664,447$310,307$4,326,576
23$7,593,383$2,772,507$322,719$4,498,157
24$7,897,118$2,884,889$335,628$4,676,602
25$8,213,003$3,001,766$349,053$4,862,184
26$8,541,523$3,123,319$363,015$5,055,190
27$8,883,184$3,249,733$377,535$5,255,916
28$9,238,511$3,381,204$392,637$5,464,670
29$9,608,052$3,517,934$408,342$5,681,775
30$9,992,374$3,660,133$424,676$5,907,565
Total$179,700,000$65,377,650$7,637,251$106,685,099

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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.