Michigan Lottery

MILottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Sep 1, 2025 is estimated to be $1.10 Billion, with a cash option of 498.4 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 Sep 1, 2025

Draw Date	Jackpot	Cash Option
Mon Sep 1, 2025	$1,100,000,000	$498,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$498,400,000
Federal Tax(24%)	$119,616,000
Additional Federal Tax	$64,752,330
State Tax(4.25%)	$21,182,000
Net Lumpsum Payment	$292,849,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$16,556,100	-$6,086,087 -$703,634	$9,766,379
2	$17,384,400	-$6,392,558 -$738,837	$10,253,005
3	$18,253,400	-$6,714,088 -$775,770	$10,763,542
4	$19,166,400	-$7,051,898 -$814,572	$11,299,930
5	$20,124,500	-$7,406,395 -$855,291	$11,862,814
6	$21,131,000	-$7,778,800 -$898,068	$12,454,132
7	$22,187,000	-$8,169,520 -$942,948	$13,074,532
8	$23,296,900	-$8,580,183 -$990,118	$13,726,599
9	$24,461,800	-$9,011,196 -$1,039,627	$14,410,977
10	$25,685,000	-$9,463,780 -$1,091,613	$15,129,607
11	$26,968,700	-$9,938,749 -$1,146,170	$15,883,781
12	$28,317,300	-$10,437,731 -$1,203,485	$16,676,084
13	$29,733,000	-$10,961,540 -$1,263,653	$17,507,807
14	$31,220,200	-$11,511,804 -$1,326,859	$18,381,537
15	$32,781,100	-$12,089,337 -$1,393,197	$19,298,566
16	$34,420,100	-$12,695,767 -$1,462,854	$20,261,479
17	$36,140,500	-$13,332,315 -$1,535,971	$21,272,214
18	$37,947,800	-$14,001,016 -$1,612,782	$22,334,002
19	$39,845,300	-$14,703,091 -$1,693,425	$23,448,784
20	$41,837,400	-$15,440,168 -$1,778,090	$24,619,142
21	$43,929,600	-$16,214,282 -$1,867,008	$25,848,310
22	$46,126,300	-$17,027,061 -$1,960,368	$27,138,871
23	$48,431,900	-$17,880,133 -$2,058,356	$28,493,411
24	$50,854,100	-$18,776,347 -$2,161,299	$29,916,454
25	$53,396,200	-$19,716,924 -$2,269,339	$31,409,937
26	$56,067,000	-$20,705,120 -$2,382,848	$32,979,032
27	$58,869,800	-$21,742,156 -$2,501,967	$34,625,677
28	$61,813,400	-$22,831,288 -$2,627,070	$36,355,042
29	$64,904,400	-$23,974,958 -$2,758,437	$38,171,005
30	$68,149,400	-$25,175,608 -$2,896,350	$40,077,442