USA Mega

Colorado Mega Millions Jackpot Annuity Payout Schedule for Aug 21, 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 $22,000,000 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, Aug 21, 1998
Jackpot:$22,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$331,132$86,271$14,570$230,291
2$347,688$92,066$15,298$240,324
3$365,073$98,150$16,063$250,859
4$383,326$104,539$16,866$261,921
5$402,492$111,247$17,710$273,536
6$422,617$118,291$18,595$285,731
7$443,748$125,687$19,525$298,537
8$465,935$133,452$20,501$311,982
9$489,232$141,606$21,526$326,100
10$513,694$150,168$22,603$340,924
11$539,378$159,157$23,733$356,489
12$566,347$168,596$24,919$372,832
13$594,665$178,507$26,165$389,992
14$624,398$189,215$27,474$407,709
15$655,618$200,766$28,847$426,004
16$688,399$212,895$30,290$445,214
17$722,819$225,631$31,804$465,384
18$758,960$239,003$33,394$486,563
19$796,908$253,044$35,064$508,800
20$836,753$267,786$36,817$532,150
21$878,591$283,266$38,658$556,666
22$922,520$299,520$40,591$582,409
23$968,646$316,587$42,620$609,439
24$1,017,078$334,507$44,751$637,820
25$1,067,932$353,323$46,989$667,621
26$1,121,329$373,079$49,338$698,911
27$1,177,395$393,824$51,805$731,766
28$1,236,265$415,606$54,396$766,264
29$1,298,079$438,477$57,115$802,486
30$1,362,982$462,491$59,971$840,520
Total$22,000,000$6,926,757$967,998$14,105,244

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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.