USA Mega

Colorado Mega Millions Jackpot Annuity Payout Schedule for Dec 7, 2004

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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 $10,000,000 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, Dec 7, 2004
Jackpot:$10,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$150,514$29,166$6,623$114,726
2$158,040$30,972$6,954$120,114
3$165,942$32,869$7,301$125,772
4$174,239$34,860$7,667$131,713
5$182,951$36,951$8,050$137,951
6$192,099$39,158$8,452$144,488
7$201,704$42,232$8,875$150,597
8$211,789$45,459$9,319$157,011
9$222,378$48,848$9,785$163,746
10$233,497$52,406$10,274$170,818
11$245,172$56,185$10,788$178,199
12$257,431$60,475$11,327$185,628
13$270,302$64,981$11,893$193,428
14$283,817$69,711$12,488$201,619
15$298,008$74,678$13,112$210,218
16$312,909$79,893$13,768$219,248
17$328,554$85,369$14,456$228,729
18$344,982$91,118$15,179$238,684
19$362,231$97,156$15,938$249,137
20$380,342$103,495$16,735$260,113
21$399,359$110,151$17,572$271,637
22$419,327$117,139$18,450$283,738
23$440,294$124,478$19,373$296,443
24$462,308$132,183$20,342$309,784
25$485,424$140,273$21,359$323,792
26$509,695$148,768$22,427$338,500
27$535,180$157,688$23,548$353,944
28$561,939$167,053$24,725$370,160
29$590,036$176,887$25,962$387,187
30$619,537$187,417$27,260$404,861
Total$10,000,000$2,638,019$440,002$6,921,985

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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.