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Michigan Powerball Jackpot Annuity Payout Schedule for Nov 19, 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 $92,900,000 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, Nov 19, 2022
Jackpot:$92,900,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,398,278$480,318$59,427$858,534
2$1,468,192$506,186$62,398$899,608
3$1,541,602$533,348$65,518$942,736
4$1,618,682$561,867$68,794$988,021
5$1,699,616$591,813$72,234$1,035,569
6$1,784,597$623,256$75,845$1,085,496
7$1,873,827$656,271$79,638$1,137,918
8$1,967,518$690,937$83,620$1,192,962
9$2,065,894$727,336$87,800$1,250,758
10$2,169,189$765,555$92,191$1,311,443
11$2,277,648$805,685$96,800$1,375,163
12$2,391,530$847,821$101,640$1,442,069
13$2,511,107$892,065$106,722$1,512,320
14$2,636,662$938,520$112,058$1,586,084
15$2,768,495$987,298$117,661$1,663,536
16$2,906,920$1,038,515$123,544$1,744,861
17$3,052,266$1,092,293$129,721$1,830,251
18$3,204,880$1,148,760$136,207$1,919,912
19$3,365,123$1,208,051$143,018$2,014,055
20$3,533,380$1,270,305$150,169$2,112,906
21$3,710,049$1,335,673$157,677$2,216,699
22$3,895,551$1,404,309$165,561$2,325,681
23$4,090,329$1,476,377$173,839$2,440,113
24$4,294,845$1,552,048$182,531$2,560,266
25$4,509,587$1,631,502$191,657$2,686,428
26$4,735,067$1,714,930$201,240$2,818,897
27$4,971,820$1,802,528$211,302$2,957,989
28$5,220,411$1,894,507$221,867$3,104,036
29$5,481,432$1,991,085$232,961$3,257,386
30$5,755,503$2,092,491$244,609$3,418,403
Total$92,900,000$33,261,650$3,948,249$55,690,100

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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.