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Michigan Mega Millions Jackpot Annuity Payout Schedule for Jan 15, 2021

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The tax information provided here is based on 2021 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 Mega Millions 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 $750,000,000 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 prize money, as well as deductions claimed.

Michigan

Federal Filing Status:

Year Gross Payment Federal Taxes State Taxes Net Payment
1 $11,288,576 $4,140,845 $479,764 $6,667,966
2 $11,853,005 $4,349,684 $503,753 $6,999,568
3 $12,445,655 $4,568,965 $528,940 $7,347,750
4 $13,067,939 $4,799,209 $555,387 $7,713,342
5 $13,721,335 $5,040,966 $583,157 $8,097,212
6 $14,407,402 $5,294,811 $612,315 $8,500,276
7 $15,127,772 $5,561,348 $642,930 $8,923,494
8 $15,884,161 $5,841,212 $675,077 $9,367,872
9 $16,678,369 $6,135,069 $708,831 $9,834,469
10 $17,512,287 $6,443,618 $744,272 $10,324,396
11 $18,387,902 $6,767,596 $781,486 $10,838,820
12 $19,307,297 $7,107,772 $820,560 $11,378,964
13 $20,272,661 $7,464,957 $861,588 $11,946,116
14 $21,286,295 $7,840,001 $904,668 $12,541,626
15 $22,350,609 $8,233,798 $949,901 $13,166,911
16 $23,468,140 $8,647,284 $997,396 $13,823,460
17 $24,641,546 $9,081,444 $1,047,266 $14,512,836
18 $25,873,624 $9,537,313 $1,099,629 $15,236,682
19 $27,167,305 $10,015,975 $1,154,610 $15,996,719
20 $28,525,670 $10,518,570 $1,212,341 $16,794,759
21 $29,951,954 $11,046,295 $1,272,958 $17,632,700
22 $31,449,551 $11,600,406 $1,336,606 $18,512,539
23 $33,022,029 $12,182,223 $1,403,436 $19,436,370
24 $34,673,130 $12,793,130 $1,473,608 $20,406,392
25 $36,406,787 $13,434,583 $1,547,288 $21,424,915
26 $38,227,127 $14,108,109 $1,624,653 $22,494,365
27 $40,138,483 $14,815,311 $1,705,886 $23,617,286
28 $42,145,406 $15,557,873 $1,791,180 $24,796,354
29 $44,252,677 $16,337,563 $1,880,739 $26,034,375
30 $46,465,311 $17,156,237 $1,974,776 $27,334,298
Total $750,000,002 $276,422,167 $31,875,001 $441,702,832

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.

Mega Millions annuity chart shows the annual net payout a Michigan jackpot winner would get after federal and state taxes.

Mega Millions results for 01/12/21; did anyone win the $625M jackpot?

(Courtesy Michigan Lottery)

LANSING, MI – Several players won $1 million, but there was no winner of the $625 million Mega Millions jackpot for the drawing held on Tuesday, Jan. 12.

That means the drawing on Friday, Jan. 15 will be worth $750 million with a cash option of $550.6 million. That jackpot will be the second largest jackpot in the game’s history.

The Mega Millions numbers for Jan. 12: 12-14-26-28-33

The Gold Mega Ball: 9

The Megaplier: 2

Mega Millions winners for Jan. 12:

· While there was no grand prize winner, nine tickets sold matched all five white numbers drawn to win $1 million. Those tickets were sold in California, Florida, Georgia, Illinois, Missouri, New Jersey, Texas and Washington. Two of the winners were sold in Florida

· One of the players in Florida also played the Megaplier option, which increased their winnings to $2 million.

· In Michigan, five tickets sold won $10,000 in the drawing. That was the largest prize won in the state.

· There were 1,692,609 tickets sold that won at least $4 in the drawing. In Michigan, 56,971 tickets sold won at least $4 in the drawing.

Mega Millions drawings are held Tuesday and Friday at 11 p.m. Five balls are drawn from a set of balls numbered 1 through 70; the Mega ball is drawn from a set of balls numbered 1 through 25. The odds of winning the jackpot is 1 in 302 million.

Mega Millions is played in 44 states, plus the District of Columbia and the Virgin Islands. Tickets cost $2 each.

In other Michigan Lottery news:

· The next Powerball drawing is Wednesday, Jan. 13 with an estimated jackpot of $550 million and a cash option of $411.4 million.

· The next Lotto 47 drawing is Wednesday, Jan. 13 at 7:29 p.m. with a jackpot of $1 million. Deadline is 7:08 p.m. that day.

· Wednesday’s Fantasy 5 jackpot is an estimated $105,000. The drawing is at 7:29 p.m. Deadline is 7:08 p.m.

For the latest on Michigan Lottery, check out the official Michigan Lottery site, which also offers more information on instant tickets, raffles and other lottery games.

The last player from Michigan to win a Mega Millions or Powerball jackpot was Cristy Davis of Waterford who won $70 million playing Powerball in February. With her winnings, Davis said she planned to buy a new house and car.

And while she was a lucky winner, it’s smart for players to check their tickets immediately as a winner worth $1 million sold in Hartland in 2019 went unclaimed. The ticket was purchased at the Speedway in Hartland, but the winner never came forward to claim the prize. The money instead went to the state’s School Aid Fund.

If you’d like to be the next player from Michigan to win a huge lottery prize, take a look at these tips from lottery expert Richard Lustig. The author of “Learn How To Increase Your Chances Of Winning The Lottery” has won more than $1 million in Florida by winning top jackpot prizes in smaller games.

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Mega Millions results for 01/12/21; did anyone win the $625M jackpot? (Courtesy Michigan Lottery) LANSING, MI – Several players won $1 million, but there was no winner of the $625 million ]]>