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Colorado Mega Millions Jackpot Annuity Payout Schedule for Feb 23, 2024

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The tax information provided here is based on 2024 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $525,000,000 for a ticket purchased in 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 exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

Colorado

Drawing Date:Fri, Feb 23, 2024
Jackpot:$525,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,902,003$2,881,929$347,688$4,672,386
2$8,297,104$3,028,116$365,073$4,903,915
3$8,711,959$3,181,612$383,326$5,147,020
4$9,147,557$3,342,784$402,493$5,402,281
5$9,604,934$3,512,013$422,617$5,670,304
6$10,085,181$3,689,705$443,748$5,951,728
7$10,589,441$3,876,281$465,935$6,247,224
8$11,118,913$4,072,185$489,232$6,557,495
9$11,674,858$4,277,885$513,694$6,883,279
10$12,258,601$4,493,870$539,378$7,225,352
11$12,871,531$4,720,654$566,347$7,584,529
12$13,515,108$4,958,778$594,665$7,961,665
13$14,190,863$5,208,807$624,398$8,357,658
14$14,900,406$5,471,338$655,618$8,773,450
15$15,645,426$5,746,995$688,399$9,210,032
16$16,427,698$6,036,436$722,819$9,668,443
17$17,249,082$6,340,348$758,960$10,149,775
18$18,111,537$6,659,456$796,908$10,655,173
19$19,017,113$6,994,520$836,753$11,185,841
20$19,967,969$7,346,336$878,591$11,743,042
21$20,966,367$7,715,744$922,520$12,328,104
22$22,014,686$8,103,622$968,646$12,942,418
23$23,115,420$8,510,893$1,017,078$13,587,449
24$24,271,191$8,938,528$1,067,932$14,264,730
25$25,484,751$9,387,545$1,121,329$14,975,876
26$26,758,989$9,859,014$1,177,395$15,722,580
27$28,096,938$10,354,055$1,236,265$16,506,618
28$29,501,784$10,873,848$1,298,079$17,329,858
29$30,976,874$11,419,631$1,362,982$18,194,260
30$32,525,718$11,992,703$1,431,132$19,101,883
Total$525,000,001$192,995,631$23,100,000$308,904,368

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.