Michigan Lottery

MILottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Apr 26, 2025 is estimated to be $168 Million, with a cash option of 77.1 Million. If you win the Powerball jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Michigan, your state will take 4.25% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Michigan Powerball Jackpot/Cash Option for Sat Apr 26, 2025

Draw Date	Jackpot	Cash Option
Sat Apr 26, 2025	$168,000,000	$77,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$77,100,000
Federal Tax(24%)	$18,504,000
Additional Federal Tax	$9,983,330
State Tax(4.25%)	$3,276,750
Net Lumpsum Payment	$45,335,920

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,528,568	-$895,901 -$107,464	$1,525,203
2	$2,655,072	-$942,707 -$112,841	$1,599,524
3	$2,787,792	-$991,813 -$118,481	$1,677,498
4	$2,927,232	-$1,043,406 -$124,407	$1,759,419
5	$3,073,560	-$1,097,548 -$130,626	$1,845,386
6	$3,227,280	-$1,154,424 -$137,159	$1,935,697
7	$3,388,560	-$1,214,098 -$144,014	$2,030,448
8	$3,558,072	-$1,276,817 -$151,218	$2,130,037
9	$3,735,984	-$1,342,644 -$158,779	$2,234,561
10	$3,922,800	-$1,411,766 -$166,719	$2,344,315
11	$4,118,856	-$1,484,307 -$175,051	$2,459,498
12	$4,324,824	-$1,560,515 -$183,805	$2,580,504
13	$4,541,040	-$1,640,515 -$192,994	$2,707,531
14	$4,768,176	-$1,724,556 -$202,647	$2,840,973
15	$5,006,568	-$1,812,761 -$212,779	$2,981,028
16	$5,256,888	-$1,905,379 -$223,418	$3,128,091
17	$5,519,640	-$2,002,597 -$234,585	$3,282,458
18	$5,795,664	-$2,104,726 -$246,316	$3,444,622
19	$6,085,464	-$2,211,952 -$258,632	$3,614,880
20	$6,389,712	-$2,324,524 -$271,563	$3,793,625
21	$6,709,248	-$2,442,752 -$285,143	$3,981,353
22	$7,044,744	-$2,566,886 -$299,402	$4,178,456
23	$7,396,872	-$2,697,173 -$314,367	$4,385,332
24	$7,766,808	-$2,834,049 -$330,089	$4,602,670
25	$8,155,056	-$2,977,701 -$346,590	$4,830,765
26	$8,562,960	-$3,128,626 -$363,926	$5,070,408
27	$8,991,024	-$3,287,009 -$382,119	$5,321,896
28	$9,440,592	-$3,453,349 -$401,225	$5,586,018
29	$9,912,672	-$3,628,019 -$421,289	$5,863,364
30	$10,408,272	-$3,811,391 -$442,352	$6,154,529