USA Mega

Colorado Mega Millions Jackpot Annuity Payout Schedule for Jan 23, 1998

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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 $5,000,000 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, Jan 23, 1998
Jackpot:$5,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$75,257$11,610$3,311$60,336
2$79,020$12,437$3,477$63,106
3$82,971$13,307$3,651$66,014
4$87,120$14,219$3,833$69,067
5$91,476$15,178$4,025$72,273
6$96,049$16,184$4,226$75,639
7$100,852$17,247$4,437$79,167
8$105,894$18,457$4,659$82,778
9$111,189$19,728$4,892$86,569
10$116,749$21,062$5,137$90,549
11$122,586$22,463$5,394$94,729
12$128,715$23,934$5,663$99,118
13$135,151$25,479$5,947$103,726
14$141,909$27,101$6,244$108,564
15$149,004$28,803$6,556$113,644
16$156,454$30,592$6,884$118,979
17$164,277$32,469$7,228$124,580
18$172,491$34,440$7,590$130,461
19$181,115$36,510$7,969$136,636
20$190,171$38,684$8,368$143,120
21$199,680$41,584$8,786$149,310
22$209,664$44,779$9,225$155,660
23$220,147$48,133$9,686$162,327
24$231,154$51,656$10,171$169,328
25$242,712$55,354$10,679$176,678
26$254,848$59,571$11,213$184,063
27$267,590$64,031$11,774$191,785
28$280,969$68,714$12,363$199,893
29$295,018$73,631$12,981$208,406
30$309,769$78,794$13,630$217,345
Total$5,000,000$1,046,151$219,999$3,733,850

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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.