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Powerball Annuity Jackpot Analysis for Colorado

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The Powerball annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $70,000,000 would be for a resident of Colorado, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Colorado

Drawing Date:  Sat, Aug 2, 2014
Jackpot:$70,000,000
Federal Tax:  25%
State Tax:4.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,248,107$312,027$49,924$886,156
2$1,298,031$324,508$51,921$921,602
3$1,349,952$337,488$53,998$958,466
4$1,403,951$350,988$56,158$996,805
5$1,460,109$365,027$58,404$1,036,677
6$1,518,513$379,628$60,741$1,078,144
7$1,579,253$394,813$63,170$1,121,270
8$1,642,424$410,606$65,697$1,166,121
9$1,708,121$427,030$68,325$1,212,766
10$1,776,445$444,111$71,058$1,261,276
11$1,847,503$461,876$73,900$1,311,727
12$1,921,403$480,351$76,856$1,364,196
13$1,998,259$499,565$79,930$1,418,764
14$2,078,190$519,547$83,128$1,475,515
15$2,161,317$540,329$86,453$1,534,535
16$2,247,770$561,943$89,911$1,595,917
17$2,337,681$584,420$93,507$1,659,753
18$2,431,188$607,797$97,248$1,726,144
19$2,528,436$632,109$101,137$1,795,189
20$2,629,573$657,393$105,183$1,866,997
21$2,734,756$683,689$109,390$1,941,677
22$2,844,146$711,037$113,766$2,019,344
23$2,957,912$739,478$118,316$2,100,118
24$3,076,229$769,057$123,049$2,184,122
25$3,199,278$799,819$127,971$2,271,487
26$3,327,249$831,812$133,090$2,362,347
27$3,460,339$865,085$138,414$2,456,841
28$3,598,752$899,688$143,950$2,555,114
29$3,742,702$935,676$149,708$2,657,319
30$3,892,411$973,103$155,696$2,763,611
Total$70,000,000$17,500,000$2,800,000$49,700,000
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