USA Mega

Michigan Powerball Jackpot Annuity Payout Schedule for Oct 11, 2023

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

The tax information provided here is based on 2025 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 $1,764,900,000 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 money, as well as deductions claimed.

State:

Michigan

Drawing Date:Wed, Oct 11, 2023
Jackpot:$1,764,900,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$26,564,278$9,785,803$1,128,982$15,649,493
2$27,892,492$10,277,242$1,185,431$16,429,819
3$29,287,116$10,793,253$1,244,702$17,249,160
4$30,751,473$11,335,065$1,306,938$18,109,470
5$32,289,045$11,903,967$1,372,284$19,012,794
6$33,903,498$12,501,314$1,440,899$19,961,285
7$35,598,674$13,128,530$1,512,944$20,957,201
8$37,378,607$13,787,105$1,588,591$22,002,911
9$39,247,537$14,478,609$1,668,020$23,100,908
10$41,209,914$15,204,688$1,751,421$24,253,804
11$43,270,410$15,967,072$1,838,992$25,464,346
12$45,433,930$16,767,574$1,930,942$26,735,414
13$47,705,626$17,608,102$2,027,489$28,070,035
14$50,090,908$18,490,656$2,128,864$29,471,388
15$52,595,453$19,417,338$2,235,307$30,942,808
16$55,225,226$20,390,354$2,347,072$32,487,800
17$57,986,487$21,412,020$2,464,426$34,110,041
18$60,885,811$22,484,770$2,587,647$35,813,394
19$63,930,102$23,611,158$2,717,029$37,601,914
20$67,126,607$24,793,865$2,852,881$39,479,861
21$70,482,937$26,035,707$2,995,525$41,451,705
22$74,007,084$27,339,641$3,145,301$43,522,142
23$77,707,439$28,708,773$3,302,566$45,696,100
24$81,592,810$30,146,360$3,467,694$47,978,755
25$85,672,450$31,655,827$3,641,079$50,375,544
26$89,956,074$33,240,768$3,823,133$52,892,173
27$94,453,878$34,904,955$4,014,290$55,534,633
28$99,176,570$36,652,351$4,215,004$58,309,215
29$104,135,399$38,487,118$4,425,754$61,222,527
30$109,342,170$40,413,623$4,647,042$64,281,505
Total$1,764,900,004$651,723,608$75,008,249$1,038,168,145

◄ 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.