USA Mega

Colorado Mega Millions Jackpot Annuity Payout Schedule for Nov 20, 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 $25,000,000 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, Nov 20, 1998
Jackpot:$25,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$376,286$102,075$16,557$257,654
2$395,100$108,660$17,384$269,056
3$414,855$115,574$18,254$281,027
4$435,598$122,834$19,166$293,598
5$457,378$130,457$20,125$306,796
6$480,247$138,461$21,131$320,655
7$504,259$146,865$22,187$335,206
8$529,472$155,690$23,297$350,485
9$555,946$164,956$24,462$366,528
10$583,743$174,685$25,685$383,373
11$612,930$184,972$26,969$400,989
12$643,577$196,311$28,317$418,948
13$675,755$208,217$29,733$437,805
14$709,543$220,719$31,220$457,605
15$745,020$233,845$32,781$478,394
16$782,271$247,628$34,420$500,223
17$821,385$262,100$36,141$523,144
18$862,454$277,296$37,948$547,210
19$905,577$293,251$39,845$572,480
20$950,856$310,004$41,838$599,014
21$998,398$327,595$43,930$626,874
22$1,048,318$346,066$46,126$656,127
23$1,100,734$365,459$48,432$686,843
24$1,155,771$385,823$50,854$719,094
25$1,213,560$407,205$53,397$752,958
26$1,274,238$429,656$56,066$788,515
27$1,337,949$453,229$58,870$825,851
28$1,404,847$477,981$61,813$865,053
29$1,475,089$503,971$64,904$906,215
30$1,548,844$531,260$68,149$949,435
Total$25,000,000$8,022,845$1,100,001$15,877,155

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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.