USA Mega

Colorado Mega Millions Jackpot Annuity Payout Schedule for Feb 24, 1998

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The tax information provided here is based on 2025 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 $7,000,000 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:Tue, Feb 24, 1998
Jackpot:$7,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$105,360$18,133$4,636$82,591
2$110,628$19,398$4,868$86,363
3$116,159$20,725$5,111$90,323
4$121,967$22,119$5,367$94,482
5$128,066$23,583$5,635$98,848
6$134,469$25,120$5,917$103,433
7$141,193$26,733$6,212$108,247
8$148,252$28,428$6,523$113,302
9$155,665$30,207$6,849$118,609
10$163,448$32,075$7,192$124,182
11$171,620$34,036$7,551$130,033
12$180,201$36,095$7,929$136,177
13$189,212$38,258$8,325$142,628
14$198,672$40,638$8,742$149,292
15$208,606$43,817$9,179$155,610
16$219,036$47,155$9,638$162,244
17$229,988$50,659$10,119$169,209
18$241,487$54,339$10,625$176,523
19$253,562$58,294$11,157$184,111
20$266,240$62,731$11,715$191,794
21$279,552$67,390$12,300$199,861
22$293,529$72,282$12,915$208,331
23$308,206$77,419$13,561$217,225
24$323,616$82,813$14,239$226,564
25$339,797$88,476$14,951$236,370
26$356,787$94,423$15,699$246,665
27$374,626$100,666$16,484$257,476
28$393,357$107,222$17,308$268,827
29$413,025$114,106$18,173$280,746
30$433,676$121,334$19,082$293,261
Total$7,000,000$1,638,674$308,002$5,053,327

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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.