USA Mega

Colorado Mega Millions Jackpot Annuity Payout Schedule for Aug 6, 2013

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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 $20,000,000 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:Tue, Aug 6, 2013
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 4.55%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$79,113$13,697$208,219
2$316,080$84,381$14,382$217,317
3$331,884$89,912$15,101$226,871
4$348,478$95,720$15,856$236,902
5$365,902$101,819$16,649$247,435
6$384,197$108,222$17,481$258,494
7$403,407$114,946$18,355$270,107
8$423,578$122,005$19,273$282,300
9$444,757$129,418$20,236$295,102
10$466,994$137,201$21,248$308,545
11$490,344$145,373$22,311$322,660
12$514,861$153,954$23,426$337,481
13$540,604$162,979$24,597$353,028
14$567,635$172,980$25,827$368,827
15$596,016$183,481$27,119$385,416
16$625,817$194,507$28,475$402,835
17$657,108$206,085$29,898$421,125
18$689,963$218,241$31,393$440,329
19$724,461$231,006$32,963$460,493
20$760,685$244,408$34,611$481,665
21$798,719$258,481$36,342$503,896
22$838,655$273,257$38,159$527,239
23$880,587$288,772$40,067$551,748
24$924,617$305,063$42,070$577,484
25$970,848$322,169$44,174$604,505
26$1,019,390$340,129$46,382$632,878
27$1,070,360$358,988$48,701$662,670
28$1,123,878$378,790$51,136$693,951
29$1,180,071$399,581$53,693$726,797
30$1,239,075$421,413$56,378$761,284
Total$20,000,000$6,322,394$910,000$12,767,603

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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.