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Michigan Powerball Jackpot Annuity Payout Schedule for Mar 27, 2023

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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 $122,200,000 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, Mar 27, 2023
Jackpot:$122,200,000
Federal Tax:37% marginal rate
State Tax: 4.25%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,839,285$637,556$78,170$1,123,560
2$1,931,250$671,583$82,078$1,177,589
3$2,027,812$707,311$86,182$1,234,319
4$2,129,203$744,825$90,491$1,293,886
5$2,235,663$784,215$95,016$1,356,432
6$2,347,446$825,575$99,766$1,422,104
7$2,464,818$869,003$104,755$1,491,061
8$2,588,059$914,602$109,993$1,563,465
9$2,717,462$962,481$115,492$1,639,489
10$2,853,335$1,012,754$121,267$1,719,314
11$2,996,002$1,065,541$127,330$1,803,131
12$3,145,802$1,120,967$133,697$1,891,139
13$3,303,092$1,179,164$140,381$1,983,546
14$3,468,247$1,240,272$147,400$2,080,575
15$3,641,659$1,304,434$154,771$2,182,455
16$3,823,742$1,371,805$162,509$2,289,428
17$4,014,929$1,442,544$170,634$2,401,751
18$4,215,676$1,516,820$179,166$2,519,689
19$4,426,460$1,594,810$188,125$2,643,525
20$4,647,783$1,676,700$197,531$2,773,552
21$4,880,172$1,762,684$207,407$2,910,081
22$5,124,180$1,852,967$217,778$3,053,436
23$5,380,389$1,947,764$228,667$3,203,958
24$5,649,409$2,047,301$240,100$3,362,007
25$5,931,879$2,151,816$252,105$3,527,959
26$6,228,473$2,261,555$264,710$3,702,208
27$6,539,897$2,376,782$277,946$3,885,169
28$6,866,892$2,497,770$291,843$4,077,279
29$7,210,236$2,624,808$306,435$4,278,993
30$7,570,748$2,758,197$321,757$4,490,794
Total$122,200,000$43,924,606$5,193,502$73,081,894

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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.