Michigan Lottery

MILottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Jun 11, 2025 is estimated to be $65 Million, with a cash option of 29.2 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 Jun 11, 2025

Draw Date	Jackpot	Cash Option
Wed Jun 11, 2025	$65,000,000	$29,200,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$29,200,000
Federal Tax(24%)	$7,008,000
Additional Federal Tax	$3,756,330
State Tax(4.25%)	$1,241,000
Net Lumpsum Payment	$17,194,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$978,315	-$322,307 -$41,578	$614,430
2	$1,027,260	-$340,417 -$43,659	$643,184
3	$1,078,610	-$359,416 -$45,841	$673,353
4	$1,132,560	-$379,378 -$48,134	$705,048
5	$1,189,175	-$400,325 -$50,540	$738,310
6	$1,248,650	-$422,331 -$53,068	$773,251
7	$1,311,050	-$445,419 -$55,720	$809,911
8	$1,376,635	-$469,685 -$58,507	$848,443
9	$1,445,470	-$495,154 -$61,432	$888,884
10	$1,517,750	-$521,898 -$64,504	$931,348
11	$1,593,605	-$549,964 -$67,728	$975,913
12	$1,673,295	-$579,450 -$71,115	$1,022,730
13	$1,756,950	-$610,402 -$74,670	$1,071,878
14	$1,844,830	-$642,917 -$78,405	$1,123,508
15	$1,937,065	-$677,044 -$82,325	$1,177,696
16	$2,033,915	-$712,879 -$86,441	$1,234,595
17	$2,135,575	-$750,493 -$90,762	$1,294,320
18	$2,242,370	-$790,007 -$95,301	$1,357,062
19	$2,354,495	-$831,494 -$100,066	$1,422,935
20	$2,472,210	-$875,048 -$105,069	$1,492,093
21	$2,595,840	-$920,791 -$110,323	$1,564,726
22	$2,725,645	-$968,819 -$115,840	$1,640,986
23	$2,861,885	-$1,019,228 -$121,630	$1,721,027
24	$3,005,015	-$1,072,186 -$127,713	$1,805,116
25	$3,155,230	-$1,127,765 -$134,097	$1,893,368
26	$3,313,050	-$1,186,159 -$140,805	$1,986,086
27	$3,478,670	-$1,247,438 -$147,843	$2,083,389
28	$3,652,610	-$1,311,796 -$155,236	$2,185,578
29	$3,835,260	-$1,379,377 -$162,999	$2,292,884
30	$4,027,010	-$1,450,324 -$171,148	$2,405,538