USA Mega

Colorado Mega Millions Jackpot Annuity Payout Schedule for Mar 10, 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 $17,000,000 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, Mar 10, 1998
Jackpot:$17,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$255,874$59,931$11,258$184,685
2$268,668$64,409$11,821$192,438
3$282,102$69,110$12,412$200,579
4$296,207$74,047$13,033$209,126
5$311,017$79,231$13,685$218,102
6$326,568$84,673$14,369$227,525
7$342,896$90,388$15,087$237,420
8$360,041$96,389$15,842$247,810
9$378,043$102,690$16,634$258,719
10$396,945$109,306$17,466$270,174
11$416,792$116,252$18,339$282,201
12$437,632$123,546$19,256$294,830
13$459,514$131,205$20,219$308,091
14$482,489$139,246$21,230$322,014
15$506,614$147,690$22,291$336,633
16$531,945$156,555$23,406$351,984
17$558,542$165,864$24,576$368,102
18$586,469$175,639$25,805$385,025
19$615,792$186,031$27,095$402,667
20$646,582$197,423$28,450$420,709
21$678,911$209,385$29,872$439,654
22$712,856$221,945$31,366$459,546
23$748,499$235,132$32,934$480,433
24$785,924$248,980$34,581$502,364
25$825,220$263,519$36,310$525,391
26$866,482$278,786$38,125$549,570
27$909,806$294,816$40,031$574,958
28$955,296$311,647$42,033$601,616
29$1,003,061$329,320$44,135$629,606
30$1,053,214$347,877$46,341$658,995
Total$17,000,000$5,111,032$748,002$11,140,967

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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.