USA Mega

Michigan Powerball Jackpot Annuity Payout Schedule for May 25, 2013

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The tax information provided here is based on 2025 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 $50,000,000 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, May 25, 2013
Jackpot:$50,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$891,505$286,877$37,889$566,739
2$927,165$300,071$39,405$587,689
3$964,252$313,793$40,981$609,478
4$1,002,822$328,064$42,620$632,138
5$1,042,935$342,906$44,325$655,704
6$1,084,652$358,342$46,098$680,213
7$1,128,038$374,394$47,942$705,702
8$1,173,160$391,089$49,859$732,211
9$1,220,086$408,452$51,854$759,780
10$1,268,890$426,509$53,928$788,452
11$1,319,645$445,289$56,085$818,271
12$1,372,431$464,820$58,328$849,283
13$1,427,328$485,132$60,661$881,535
14$1,484,421$506,256$63,088$915,077
15$1,543,798$528,226$65,611$949,961
16$1,605,550$551,074$68,236$986,240
17$1,669,772$574,836$70,965$1,023,971
18$1,736,563$599,549$73,804$1,063,210
19$1,806,025$625,250$76,756$1,104,020
20$1,878,266$651,979$79,826$1,146,461
21$1,953,397$679,777$83,019$1,190,601
22$2,031,533$708,687$86,340$1,236,505
23$2,112,794$738,754$89,794$1,284,246
24$2,197,306$770,024$93,386$1,333,897
25$2,285,198$802,544$97,121$1,385,534
26$2,376,606$836,365$101,006$1,439,236
27$2,471,671$871,538$105,046$1,495,086
28$2,570,537$908,119$109,248$1,553,170
29$2,673,359$946,163$113,618$1,613,578
30$2,780,293$985,729$118,162$1,676,402
Total$50,000,000$17,210,608$2,125,001$30,664,390

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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.