Michigan Lottery

MILottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Nov 24, 2025 is estimated to be $654 Million, with a cash option of 303.2 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 Mon Nov 24, 2025

Draw Date	Jackpot	Cash Option
Mon Nov 24, 2025	$654,000,000	$303,200,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$303,200,000
Federal Tax(24%)	$72,768,000
Additional Federal Tax	$39,376,330
State Tax(4.25%)	$12,886,000
Net Lumpsum Payment	$178,169,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$9,843,354	-$3,602,371 -$418,343	$5,822,640
2	$10,335,816	-$3,784,582 -$439,272	$6,111,962
3	$10,852,476	-$3,975,747 -$461,230	$6,415,499
4	$11,395,296	-$4,176,590 -$484,300	$6,734,406
5	$11,964,930	-$4,387,354 -$508,510	$7,069,066
6	$12,563,340	-$4,608,766 -$533,942	$7,420,632
7	$13,191,180	-$4,841,067 -$560,625	$7,789,488
8	$13,851,066	-$5,085,225 -$588,670	$8,177,171
9	$14,543,652	-$5,341,482 -$618,105	$8,584,065
10	$15,270,900	-$5,610,563 -$649,013	$9,011,324
11	$16,034,118	-$5,892,954 -$681,450	$9,459,714
12	$16,835,922	-$6,189,622 -$715,527	$9,930,773
13	$17,677,620	-$6,501,050 -$751,299	$10,425,271
14	$18,561,828	-$6,828,207 -$788,878	$10,944,743
15	$19,489,854	-$7,171,576 -$828,319	$11,489,959
16	$20,464,314	-$7,532,127 -$869,733	$12,062,454
17	$21,487,170	-$7,910,583 -$913,205	$12,663,382
18	$22,561,692	-$8,308,156 -$958,872	$13,294,664
19	$23,689,842	-$8,725,572 -$1,006,818	$13,957,452
20	$24,874,236	-$9,163,798 -$1,057,155	$14,653,283
21	$26,118,144	-$9,624,044 -$1,110,021	$15,384,079
22	$27,424,182	-$10,107,278 -$1,165,528	$16,151,376
23	$28,794,966	-$10,614,468 -$1,223,786	$16,956,712
24	$30,235,074	-$11,147,308 -$1,284,991	$17,802,775
25	$31,746,468	-$11,706,524 -$1,349,225	$18,690,719
26	$33,334,380	-$12,294,051 -$1,416,711	$19,623,618
27	$35,000,772	-$12,910,616 -$1,487,533	$20,602,623
28	$36,750,876	-$13,558,155 -$1,561,912	$21,630,809
29	$38,588,616	-$14,238,118 -$1,640,016	$22,710,482
30	$40,517,916	-$14,951,959 -$1,722,011	$23,843,946