Michigan Lottery

MILottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Mar 10, 2025 is estimated to be $335 Million, with a cash option of 157.3 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 Mar 10, 2025

Draw Date	Jackpot	Cash Option
Mon Mar 10, 2025	$335,000,000	$157,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$157,300,000
Federal Tax(24%)	$37,752,000
Additional Federal Tax	$20,409,330
State Tax(4.25%)	$6,685,250
Net Lumpsum Payment	$92,453,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,042,085	-$1,825,902 -$214,289	$3,001,894
2	$5,294,340	-$1,919,236 -$225,009	$3,150,095
3	$5,558,990	-$2,017,157 -$236,257	$3,305,576
4	$5,837,040	-$2,120,035 -$248,074	$3,468,931
5	$6,128,825	-$2,227,996 -$260,475	$3,640,354
6	$6,435,350	-$2,341,410 -$273,502	$3,820,438
7	$6,756,950	-$2,460,402 -$287,170	$4,009,378
8	$7,094,965	-$2,585,467 -$301,536	$4,207,962
9	$7,449,730	-$2,716,730 -$316,614	$4,416,386
10	$7,822,250	-$2,854,563 -$332,446	$4,635,241
11	$8,213,195	-$2,999,213 -$349,061	$4,864,921
12	$8,623,905	-$3,151,175 -$366,516	$5,106,214
13	$9,055,050	-$3,310,699 -$384,840	$5,359,511
14	$9,507,970	-$3,478,279 -$404,089	$5,625,602
15	$9,983,335	-$3,654,164 -$424,292	$5,904,879
16	$10,482,485	-$3,838,850 -$445,506	$6,198,129
17	$11,006,425	-$4,032,708 -$467,773	$6,505,944
18	$11,556,830	-$4,236,357 -$491,165	$6,829,308
19	$12,134,705	-$4,450,171 -$515,725	$7,168,809
20	$12,741,390	-$4,674,645 -$541,509	$7,525,236
21	$13,378,560	-$4,910,398 -$568,589	$7,899,573
22	$14,047,555	-$5,157,926 -$597,021	$8,292,608
23	$14,749,715	-$5,417,725 -$626,863	$8,705,127
24	$15,487,385	-$5,690,663 -$658,214	$9,138,508
25	$16,261,570	-$5,977,111 -$691,117	$9,593,342
26	$17,074,950	-$6,278,062 -$725,685	$10,071,203
27	$17,928,530	-$6,593,886 -$761,963	$10,572,681
28	$18,824,990	-$6,925,577 -$800,062	$11,099,351
29	$19,766,340	-$7,273,876 -$840,069	$11,652,395
30	$20,754,590	-$7,639,529 -$882,070	$12,232,991