USA Mega

Colorado Mega Millions Jackpot Annuity Payout Schedule for Jan 7, 2011

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The tax information provided here is based on 2022 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 $12,000,000 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 prize money, as well as deductions claimed.

State:

Colorado

Drawing Date:Fri, Jan 7, 2011
Jackpot:$12,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$180,617$38,029$7,947$134,641
2$189,648$40,919$8,345$140,385
3$199,130$43,953$8,762$146,415
4$209,087$47,139$9,200$152,748
5$219,541$50,592$9,660$159,289
6$230,518$54,434$10,143$165,941
7$242,044$58,469$10,650$172,926
8$254,147$62,704$11,182$180,260
9$266,854$67,152$11,742$187,960
10$280,197$71,822$12,329$196,046
11$294,206$76,725$12,945$204,536
12$308,917$81,874$13,592$213,451
13$324,363$87,280$14,272$222,811
14$340,581$92,956$14,986$232,639
15$357,610$98,916$15,735$242,959
16$375,490$105,175$16,522$253,794
17$394,265$111,746$17,348$265,171
18$413,978$118,645$18,215$277,118
19$434,677$125,890$19,126$289,661
20$456,411$133,497$20,082$302,832
21$479,231$141,484$21,086$316,661
22$503,193$149,870$22,140$331,182
23$528,352$158,676$23,248$346,429
24$554,770$168,220$24,410$362,140
25$582,509$178,483$25,630$378,395
26$611,634$189,260$26,912$395,463
27$642,216$200,575$28,257$413,383
28$674,327$212,456$29,670$432,200
29$708,043$224,931$31,154$451,958
30$743,445$238,030$32,712$472,704
Total$12,000,000$3,429,902$528,002$8,042,098

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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.