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Michigan Powerball Jackpot Annuity Payout Schedule for Jan 5, 2022

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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 $632,600,000 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:Wed, Jan 5, 2022
Jackpot:$632,600,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,521,538$3,485,924$404,665$5,630,948
2$9,997,615$3,662,072$424,899$5,910,644
3$10,497,495$3,847,028$446,144$6,204,324
4$11,022,371$4,041,232$468,451$6,512,688
5$11,573,488$4,245,146$491,873$6,836,469
6$12,152,163$4,459,255$516,467$7,176,441
7$12,759,772$4,684,071$542,290$7,533,411
8$13,397,760$4,920,126$569,405$7,908,229
9$14,067,648$5,167,985$597,875$8,301,788
10$14,771,030$5,428,236$627,769$8,715,025
11$15,509,582$5,701,500$659,157$9,148,924
12$16,285,061$5,988,428$692,115$9,604,518
13$17,099,314$6,289,701$726,721$10,082,892
14$17,954,280$6,606,039$763,057$10,585,184
15$18,851,994$6,938,193$801,210$11,112,591
16$19,794,594$7,286,955$841,270$11,666,369
17$20,784,323$7,653,154$883,334$12,247,835
18$21,823,539$8,037,664$927,500$12,858,374
19$22,914,716$8,441,400$973,875$13,499,441
20$24,060,452$8,865,322$1,022,569$14,172,561
21$25,263,474$9,310,441$1,073,698$14,879,336
22$26,526,648$9,777,815$1,127,383$15,621,451
23$27,852,981$10,268,558$1,183,752$16,400,671
24$29,245,629$10,783,838$1,242,939$17,218,852
25$30,707,911$11,324,882$1,305,086$18,077,943
26$32,243,307$11,892,979$1,370,341$18,979,988
27$33,855,472$12,489,480$1,438,858$19,927,135
28$35,548,245$13,115,806$1,510,800$20,921,639
29$37,325,658$13,773,448$1,586,340$21,965,869
30$39,191,941$14,463,973$1,665,657$23,062,310
Total$632,600,001$232,950,651$26,885,500$372,763,850

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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.