Michigan Lottery

MILottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Jul 7, 2025 is estimated to be $203 Million, with a cash option of 92.5 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 Jul 7, 2025

Draw Date	Jackpot	Cash Option
Mon Jul 7, 2025	$203,000,000	$92,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$92,500,000
Federal Tax(24%)	$22,200,000
Additional Federal Tax	$11,985,330
State Tax(4.25%)	$3,931,250
Net Lumpsum Payment	$54,383,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,055,353	-$1,090,811 -$129,853	$1,834,689
2	$3,208,212	-$1,147,369 -$136,349	$1,924,494
3	$3,368,582	-$1,206,706 -$143,165	$2,018,711
4	$3,537,072	-$1,269,047 -$150,326	$2,117,699
5	$3,713,885	-$1,334,468 -$157,840	$2,221,577
6	$3,899,630	-$1,403,193 -$165,734	$2,330,703
7	$4,094,510	-$1,475,299 -$174,017	$2,445,194
8	$4,299,337	-$1,551,085 -$182,722	$2,565,530
9	$4,514,314	-$1,630,627 -$191,858	$2,691,829
10	$4,740,050	-$1,714,149 -$201,452	$2,824,449
11	$4,976,951	-$1,801,802 -$211,520	$2,963,629
12	$5,225,829	-$1,893,887 -$222,098	$3,109,844
13	$5,487,090	-$1,990,554 -$233,201	$3,263,335
14	$5,761,546	-$2,092,102 -$244,866	$3,424,578
15	$6,049,603	-$2,198,683 -$257,108	$3,593,812
16	$6,352,073	-$2,310,597 -$269,963	$3,771,513
17	$6,669,565	-$2,428,069 -$283,457	$3,958,039
18	$7,003,094	-$2,551,475 -$297,631	$4,153,988
19	$7,353,269	-$2,681,040 -$312,514	$4,359,715
20	$7,720,902	-$2,817,064 -$328,138	$4,575,700
21	$8,107,008	-$2,959,923 -$344,548	$4,802,537
22	$8,512,399	-$3,109,918 -$361,777	$5,040,704
23	$8,937,887	-$3,267,349 -$379,860	$5,290,678
24	$9,384,893	-$3,432,741 -$398,858	$5,553,294
25	$9,854,026	-$3,606,320 -$418,796	$5,828,910
26	$10,346,910	-$3,788,687 -$439,744	$6,118,479
27	$10,864,154	-$3,980,067 -$461,727	$6,422,360
28	$11,407,382	-$4,181,062 -$484,814	$6,741,506
29	$11,977,812	-$4,392,121 -$509,057	$7,076,634
30	$12,576,662	-$4,613,695 -$534,508	$7,428,459