USA Mega

Colorado Mega Millions Jackpot Annuity Payout Schedule for Jan 9, 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 $14,000,000 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 9, 1998
Jackpot:$14,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$210,720$45,117$9,272$156,331
2$221,256$48,488$9,735$163,032
3$232,319$52,029$10,222$170,068
4$243,935$55,752$10,733$177,450
5$256,132$60,021$11,270$184,841
6$268,938$64,503$11,833$192,602
7$282,385$69,210$12,425$200,751
8$296,504$74,151$13,046$209,307
9$311,330$79,340$13,699$218,291
10$326,896$84,788$14,383$227,724
11$343,241$90,509$15,103$237,629
12$360,403$96,516$15,858$248,029
13$378,423$102,823$16,651$258,950
14$397,344$109,445$17,483$270,416
15$417,211$116,399$18,357$282,455
16$438,072$123,700$19,275$295,097
17$459,976$131,366$20,239$308,370
18$482,974$139,416$21,251$322,308
19$507,123$147,868$22,313$336,942
20$532,479$156,742$23,429$352,308
21$559,103$166,061$24,601$368,442
22$587,058$175,845$25,831$385,383
23$616,411$186,260$27,122$403,029
24$647,232$197,664$28,478$421,090
25$679,593$209,637$29,902$440,054
26$713,573$222,210$31,397$459,966
27$749,252$235,411$32,967$480,874
28$786,714$249,272$34,615$502,827
29$826,050$263,826$36,346$525,878
30$867,352$279,108$38,164$550,081
Total$14,000,000$4,033,477$616,000$9,350,525

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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.