USA Mega

Colorado Mega Millions Jackpot Annuity Payout Schedule for Feb 14, 1997

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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 $13,000,000 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 14, 1997
Jackpot:$13,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$195,669$40,300$8,609$146,759
2$205,452$43,431$9,040$152,981
3$215,725$46,718$9,492$159,514
4$226,511$50,170$9,966$166,374
5$237,836$53,794$10,465$173,577
6$249,728$57,780$10,988$180,961
7$262,215$62,150$11,537$188,527
8$275,325$66,739$12,114$196,472
9$289,092$71,557$12,720$204,815
10$303,546$76,616$13,356$213,574
11$318,724$81,928$14,024$222,772
12$334,660$87,506$14,725$232,429
13$351,393$93,362$15,461$242,569
14$368,962$99,512$16,234$253,216
15$387,411$105,968$17,046$264,396
16$406,781$112,748$17,898$276,135
17$427,120$119,867$18,793$288,460
18$448,476$127,341$19,733$301,402
19$470,900$135,190$20,720$314,991
20$494,445$143,430$21,756$329,259
21$519,167$152,083$22,843$344,241
22$545,126$161,169$23,986$359,971
23$572,382$170,708$25,185$376,489
24$601,001$180,725$26,444$393,832
25$631,051$191,677$27,766$411,608
26$662,604$203,351$29,155$430,098
27$695,734$215,609$30,612$449,512
28$730,520$228,480$32,143$469,897
29$767,046$241,995$33,750$491,301
30$805,399$256,185$35,438$513,776
Total$13,000,000$3,678,089$571,999$8,749,908

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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.