USA Mega

Michigan Powerball Jackpot Annuity Payout Schedule for Jun 10, 2017

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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 $447,800,000 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 prize money, as well as deductions claimed.

State:

Michigan

Drawing Date:Sat, Jun 10, 2017
Jackpot:$447,800,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,740,033$2,456,767$286,451$3,996,814
2$7,077,034$2,581,458$300,774$4,194,803
3$7,430,886$2,712,383$315,813$4,402,690
4$7,802,430$2,849,854$331,603$4,620,973
5$8,192,552$2,994,199$348,183$4,850,169
6$8,602,179$3,145,761$365,593$5,090,825
7$9,032,289$3,304,902$383,872$5,343,515
8$9,483,903$3,471,999$403,066$5,608,838
9$9,958,098$3,647,451$423,219$5,887,428
10$10,456,003$3,831,676$444,380$6,179,947
11$10,978,803$4,025,112$466,599$6,487,092
12$11,527,743$4,228,220$489,929$6,809,594
13$12,104,130$4,441,483$514,426$7,148,222
14$12,709,337$4,665,410$540,147$7,503,780
15$13,344,804$4,900,532$567,154$7,877,117
16$14,012,044$5,147,411$595,512$8,269,121
17$14,712,646$5,406,634$625,287$8,680,724
18$15,448,278$5,678,818$656,552$9,112,908
19$16,220,692$5,964,611$689,379$9,566,702
20$17,031,727$6,264,694$723,848$10,043,185
21$17,883,313$6,579,781$760,041$10,543,491
22$18,777,479$6,910,622$798,043$11,068,814
23$19,716,353$7,258,006$837,945$11,620,402
24$20,702,170$7,622,758$879,842$12,199,570
25$21,737,279$8,005,748$923,834$12,807,696
26$22,824,143$8,407,888$970,026$13,446,229
27$23,965,350$8,830,135$1,018,527$14,116,688
28$25,163,617$9,273,493$1,069,454$14,820,670
29$26,421,798$9,739,020$1,122,926$15,559,851
30$27,742,888$10,227,824$1,179,073$16,335,992
Total$447,800,001$164,574,650$19,031,498$264,193,850

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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.