Michigan Lottery

MILottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Aug 4, 2025 is estimated to be $426 Million, with a cash option of 193.5 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 Mon Aug 4, 2025

Draw Date	Jackpot	Cash Option
Mon Aug 4, 2025	$426,000,000	$193,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$193,500,000
Federal Tax(24%)	$46,440,000
Additional Federal Tax	$25,115,330
State Tax(4.25%)	$8,223,750
Net Lumpsum Payment	$113,720,920

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$6,411,726	-$2,332,669 -$272,498	$3,806,559
2	$6,732,504	-$2,451,357 -$286,131	$3,995,016
3	$7,069,044	-$2,575,877 -$300,434	$4,192,733
4	$7,422,624	-$2,706,701 -$315,462	$4,400,461
5	$7,793,670	-$2,843,988 -$331,231	$4,618,451
6	$8,183,460	-$2,988,211 -$347,797	$4,847,452
7	$8,592,420	-$3,139,526 -$365,178	$5,087,716
8	$9,022,254	-$3,298,564 -$383,446	$5,340,244
9	$9,473,388	-$3,465,484 -$402,619	$5,605,285
10	$9,947,100	-$3,640,757 -$422,752	$5,883,591
11	$10,444,242	-$3,824,700 -$443,880	$6,175,662
12	$10,966,518	-$4,017,942 -$466,077	$6,482,499
13	$11,514,780	-$4,220,799 -$489,378	$6,804,603
14	$12,090,732	-$4,433,901 -$513,856	$7,142,975
15	$12,695,226	-$4,657,564 -$539,547	$7,498,115
16	$13,329,966	-$4,892,418 -$566,524	$7,871,024
17	$13,996,230	-$5,138,935 -$594,840	$8,262,455
18	$14,696,148	-$5,397,905 -$624,586	$8,673,657
19	$15,430,998	-$5,669,800 -$655,817	$9,105,381
20	$16,202,484	-$5,955,249 -$688,606	$9,558,629
21	$17,012,736	-$6,255,043 -$723,041	$10,034,652
22	$17,863,458	-$6,569,810 -$759,197	$10,534,451
23	$18,756,354	-$6,900,181 -$797,145	$11,059,028
24	$19,694,406	-$7,247,261 -$837,012	$11,610,133
25	$20,678,892	-$7,611,520 -$878,853	$12,188,519
26	$21,713,220	-$7,994,222 -$922,812	$12,796,186
27	$22,798,668	-$8,395,838 -$968,943	$13,433,887
28	$23,938,644	-$8,817,629 -$1,017,392	$14,103,623
29	$25,135,704	-$9,260,541 -$1,068,267	$14,806,896
30	$26,392,404	-$9,725,520 -$1,121,677	$15,545,207