USA Mega

Michigan Powerball Jackpot Annuity Payout Schedule for Jun 5, 2021

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The tax information provided here is based on 2021 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 $285,600,000 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 5, 2021
Jackpot:$285,600,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,298,690$1,554,587$182,694$2,561,408
2$4,513,624$1,634,113$191,829$2,687,682
3$4,739,306$1,717,615$201,420$2,820,270
4$4,976,271$1,805,293$211,492$2,959,487
5$5,225,084$1,897,353$222,066$3,105,665
6$5,486,339$1,994,018$233,169$3,259,152
7$5,760,656$2,095,515$244,828$3,420,313
8$6,048,688$2,202,087$257,069$3,589,532
9$6,351,123$2,313,988$269,923$3,767,212
10$6,668,679$2,431,483$283,419$3,953,777
11$7,002,113$2,554,854$297,590$4,149,669
12$7,352,219$2,684,393$312,469$4,355,356
13$7,719,829$2,820,409$328,093$4,571,328
14$8,105,821$2,963,226$344,497$4,798,098
15$8,511,112$3,113,184$361,722$5,036,206
16$8,936,668$3,270,639$379,808$5,286,220
17$9,383,501$3,435,968$398,799$5,548,734
18$9,852,676$3,609,562$418,739$5,824,375
19$10,345,310$3,791,837$439,676$6,113,797
20$10,862,575$3,983,225$461,659$6,417,691
21$11,405,704$4,184,183$484,742$6,736,779
22$11,975,989$4,395,188$508,980$7,071,821
23$12,574,789$4,616,744$534,429$7,423,616
24$13,203,528$4,849,378$561,150$7,793,000
25$13,863,704$5,093,643$589,207$8,180,854
26$14,556,890$5,350,121$618,668$8,588,100
27$15,284,734$5,619,424$649,601$9,015,709
28$16,048,971$5,902,191$682,081$9,464,698
29$16,851,419$6,199,097$716,185$9,936,137
30$17,693,990$6,510,849$751,995$10,431,147
Total$285,600,001$104,594,167$12,137,999$168,867,833

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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.