USA Mega

Michigan Powerball Jackpot Annuity Payout Schedule for Nov 7, 2022

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $2,040,100,000 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:Mon, Nov 7, 2022
Jackpot:$2,040,100,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$30,706,433$11,324,335$1,305,023$18,077,074
2$32,241,755$11,892,404$1,370,275$18,979,076
3$33,853,842$12,488,876$1,438,788$19,926,177
4$35,546,535$13,115,173$1,510,728$20,920,634
5$37,323,860$13,772,783$1,586,264$21,964,813
6$39,190,054$14,463,275$1,665,577$23,061,202
7$41,149,558$15,188,291$1,748,856$24,212,410
8$43,207,035$15,949,558$1,836,299$25,421,178
9$45,367,387$16,748,888$1,928,114$26,690,385
10$47,635,756$17,588,185$2,024,520$28,023,051
11$50,017,544$18,469,446$2,125,746$29,422,352
12$52,518,421$19,394,771$2,232,033$30,891,617
13$55,144,342$20,366,361$2,343,635$32,434,346
14$57,901,559$21,386,532$2,460,816$34,054,211
15$60,796,637$22,457,711$2,583,857$35,755,069
16$63,836,469$23,582,449$2,713,050$37,540,971
17$67,028,291$24,763,423$2,848,702$39,416,166
18$70,379,706$26,003,446$2,991,138$41,385,123
19$73,898,691$27,305,471$3,140,694$43,452,526
20$77,593,627$28,672,597$3,297,729$45,623,301
21$81,473,307$30,108,079$3,462,616$47,902,613
22$85,546,973$31,615,335$3,635,746$50,295,891
23$89,824,322$33,197,954$3,817,534$52,808,834
24$94,315,537$34,859,704$4,008,410$55,447,423
25$99,031,314$36,604,541$4,208,831$58,217,942
26$103,982,881$38,436,621$4,419,272$61,126,988
27$109,182,025$40,360,304$4,640,236$64,181,485
28$114,641,124$42,380,171$4,872,248$67,388,706
29$120,373,181$44,501,032$5,115,860$70,756,289
30$126,391,841$46,727,936$5,371,653$74,292,252
Total$2,040,100,004$753,725,652$86,704,250$1,199,670,105

◄ Back to Jackpot Analysis

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.