Jackpot Analysis Michigan Powerball

Jackpot Analysis for Michigan Powerball
The jackpot for the Powerball draw on Sat Aug 9, 2025, is projected to be $482 Million, with an option for a cash payout of $218.9 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Michigan residents, the state will deduct 4.25% from your lottery earnings.

Michigan Powerball Jackpot/Cash Option for Sat Aug 9, 2025
Draw DateSat Aug 9, 2025
Projected Jackpot$482,000,000
Cash Value$218,900,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$218,900,000
Federal Tax(24%)$52,536,000
Additional Federal Tax$28,417,330
State Tax(4.25%)$9,303,250
Net Lumpsum Payment$128,643,420
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $7,254,582 $2,644,526
$308,320
$4,301,736
2 $7,617,528 $2,778,816
$323,745
$4,514,967
3 $7,998,308 $2,919,704
$339,928
$4,738,676
4 $8,398,368 $3,067,727
$356,931
$4,973,710
5 $8,818,190 $3,223,061
$374,773
$5,220,356
6 $9,259,220 $3,386,242
$393,517
$5,479,461
7 $9,721,940 $3,557,448
$413,182
$5,751,310
8 $10,208,278 $3,737,393
$433,852
$6,037,033
9 $10,718,716 $3,926,255
$455,545
$6,336,916
10 $11,254,700 $4,124,569
$478,325
$6,651,806
11 $11,817,194 $4,332,692
$502,231
$6,982,271
12 $12,408,126 $4,551,337
$527,345
$7,329,444
13 $13,028,460 $4,780,861
$553,710
$7,693,889
14 $13,680,124 $5,021,976
$581,405
$8,076,743
15 $14,364,082 $5,275,041
$610,473
$8,478,568
16 $15,082,262 $5,540,767
$640,996
$8,900,499
17 $15,836,110 $5,819,691
$673,035
$9,343,384
18 $16,628,036 $6,112,704
$706,692
$9,808,640
19 $17,459,486 $6,420,340
$742,028
$10,297,118
20 $18,332,388 $6,743,314
$779,126
$10,809,948
21 $19,249,152 $7,082,517
$818,089
$11,348,546
22 $20,211,706 $7,438,662
$858,998
$11,914,046
23 $21,221,978 $7,812,462
$901,934
$12,507,582
24 $22,283,342 $8,205,167
$947,042
$13,131,133
25 $23,397,244 $8,617,311
$994,383
$13,785,550
26 $24,567,540 $9,050,320
$1,044,120
$14,473,100
27 $25,795,676 $9,504,731
$1,096,316
$15,194,629
28 $27,085,508 $9,981,968
$1,151,134
$15,952,406
29 $28,439,928 $10,483,104
$1,208,697
$16,748,127
30 $29,861,828 $11,009,207
$1,269,128
$17,583,493