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Michigan Powerball Jackpot Annuity Payout Schedule for Nov 16, 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 $76,000,000 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:Wed, Nov 16, 2022
Jackpot:$76,000,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,143,909$386,201$48,616$709,092
2$1,201,105$407,364$51,047$742,694
3$1,261,160$429,584$53,599$777,976
4$1,324,218$452,916$56,279$815,023
5$1,390,429$477,414$59,093$853,922
6$1,459,950$503,137$62,048$894,766
7$1,532,948$530,146$65,150$937,652
8$1,609,595$558,505$68,408$982,682
9$1,690,075$588,283$71,828$1,029,964
10$1,774,578$619,549$75,420$1,079,610
11$1,863,307$652,379$79,191$1,131,738
12$1,956,473$686,850$83,150$1,186,473
13$2,054,296$723,045$87,308$1,243,944
14$2,157,011$761,049$91,673$1,304,289
15$2,264,862$800,954$96,257$1,367,651
16$2,378,105$842,854$101,069$1,434,182
17$2,497,010$886,849$106,123$1,504,038
18$2,621,861$933,043$111,429$1,577,388
19$2,752,954$981,548$117,001$1,654,405
20$2,890,601$1,032,477$122,851$1,735,273
21$3,035,131$1,085,954$128,993$1,820,185
22$3,186,888$1,142,104$135,443$1,909,342
23$3,346,232$1,201,061$142,215$2,002,956
24$3,513,544$1,262,966$149,326$2,101,252
25$3,689,221$1,327,967$156,792$2,204,462
26$3,873,682$1,396,217$164,631$2,312,833
27$4,067,366$1,467,881$172,863$2,426,623
28$4,270,735$1,543,127$181,506$2,546,102
29$4,484,271$1,622,135$190,582$2,671,554
30$4,708,485$1,705,094$200,111$2,803,280
Total$76,000,000$27,008,653$3,230,002$45,761,351

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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.