Michigan Lottery

MILottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Jul 2, 2025 is estimated to be $174 Million, with a cash option of 79.7 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 Wed Jul 2, 2025

Draw Date	Jackpot	Cash Option
Wed Jul 2, 2025	$174,000,000	$79,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$79,700,000
Federal Tax(24%)	$19,128,000
Additional Federal Tax	$10,321,330
State Tax(4.25%)	$3,387,250
Net Lumpsum Payment	$46,863,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,618,874	-$929,314 -$111,302	$1,578,258
2	$2,749,896	-$977,792 -$116,871	$1,655,233
3	$2,887,356	-$1,028,652 -$122,713	$1,735,991
4	$3,031,776	-$1,082,088 -$128,850	$1,820,838
5	$3,183,330	-$1,138,162 -$135,292	$1,909,876
6	$3,342,540	-$1,197,070 -$142,058	$2,003,412
7	$3,509,580	-$1,258,875 -$149,157	$2,101,548
8	$3,685,146	-$1,323,834 -$156,619	$2,204,693
9	$3,869,412	-$1,392,013 -$164,450	$2,312,949
10	$4,062,900	-$1,463,603 -$172,673	$2,426,624
11	$4,265,958	-$1,538,735 -$181,303	$2,545,920
12	$4,479,282	-$1,617,665 -$190,369	$2,671,248
13	$4,703,220	-$1,700,522 -$199,887	$2,802,811
14	$4,938,468	-$1,787,564 -$209,885	$2,941,019
15	$5,185,374	-$1,878,919 -$220,378	$3,086,077
16	$5,444,634	-$1,974,845 -$231,397	$3,238,392
17	$5,716,770	-$2,075,535 -$242,963	$3,398,272
18	$6,002,652	-$2,181,312 -$255,113	$3,566,227
19	$6,302,802	-$2,292,367 -$267,869	$3,742,566
20	$6,617,916	-$2,408,959 -$281,261	$3,927,696
21	$6,948,864	-$2,531,410 -$295,327	$4,122,127
22	$7,296,342	-$2,659,977 -$310,095	$4,326,270
23	$7,661,046	-$2,794,917 -$325,594	$4,540,535
24	$8,044,194	-$2,936,682 -$341,878	$4,765,634
25	$8,446,308	-$3,085,464 -$358,968	$5,001,876
26	$8,868,780	-$3,241,779 -$376,923	$5,250,078
27	$9,312,132	-$3,405,819 -$395,766	$5,510,547
28	$9,777,756	-$3,578,100 -$415,555	$5,784,101
29	$10,266,696	-$3,759,008 -$436,335	$6,071,353
30	$10,779,996	-$3,948,929 -$458,150	$6,372,917