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Michigan Powerball Jackpot Annuity Payout Schedule for Oct 4, 2014

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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 $60,000,000 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, Oct 4, 2014
Jackpot:$60,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,069,806$352,848$45,467$671,491
2$1,112,598$368,682$47,285$696,631
3$1,157,102$385,148$49,177$722,777
4$1,203,386$402,273$51,144$749,969
5$1,251,522$420,083$53,190$778,249
6$1,301,583$438,606$55,317$807,659
7$1,353,646$457,869$57,530$838,247
8$1,407,792$477,903$59,831$870,057
9$1,464,103$498,738$62,224$903,140
10$1,522,667$520,407$64,713$937,547
11$1,583,574$542,943$67,302$973,330
12$1,646,917$566,380$69,994$1,010,544
13$1,712,794$590,754$72,794$1,049,246
14$1,781,306$616,103$75,705$1,089,497
15$1,852,558$642,467$78,734$1,131,357
16$1,926,660$669,884$81,883$1,174,893
17$2,003,726$698,399$85,158$1,220,169
18$2,083,876$728,054$88,565$1,267,257
19$2,167,231$758,896$92,107$1,316,228
20$2,253,920$790,971$95,792$1,367,158
21$2,344,077$824,329$99,623$1,420,125
22$2,437,840$859,021$103,608$1,475,211
23$2,535,353$895,101$107,753$1,532,500
24$2,636,767$932,624$112,063$1,592,081
25$2,742,238$971,648$116,545$1,654,045
26$2,851,928$1,012,233$121,207$1,718,487
27$2,966,005$1,054,442$126,055$1,785,507
28$3,084,645$1,098,339$131,097$1,855,209
29$3,208,031$1,143,992$136,341$1,927,698
30$3,336,352$1,191,470$141,795$2,003,086
Total$60,000,000$20,910,607$2,549,999$36,539,395

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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.