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Colorado Mega Millions Jackpot Annuity Payout Schedule for Oct 3, 2014

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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 $120,000,000 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, Oct 3, 2014
Jackpot:$120,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,806,172$631,239$79,472$1,095,462
2$1,896,481$664,653$83,445$1,148,383
3$1,991,305$699,738$87,617$1,203,950
4$2,090,870$736,577$91,998$1,262,295
5$2,195,414$775,258$96,598$1,323,557
6$2,305,184$815,873$101,428$1,387,883
7$2,420,444$858,519$106,500$1,455,425
8$2,541,466$903,297$111,824$1,526,344
9$2,668,539$950,314$117,416$1,600,809
10$2,801,966$999,682$123,287$1,678,997
11$2,942,064$1,051,519$129,451$1,761,095
12$3,089,167$1,105,947$135,923$1,847,297
13$3,243,626$1,163,097$142,720$1,937,810
14$3,405,807$1,223,104$149,856$2,032,848
15$3,576,097$1,286,111$157,348$2,132,638
16$3,754,902$1,352,269$165,216$2,237,418
17$3,942,647$1,421,735$173,476$2,347,436
18$4,139,780$1,494,674$182,150$2,462,956
19$4,346,769$1,571,259$191,258$2,584,251
20$4,564,107$1,651,675$200,821$2,711,612
21$4,792,313$1,736,111$210,862$2,845,340
22$5,031,928$1,824,768$221,405$2,985,755
23$5,283,525$1,917,859$232,475$3,133,190
24$5,547,701$2,015,604$244,099$3,287,998
25$5,825,086$2,118,237$256,304$3,450,545
26$6,116,340$2,226,001$269,119$3,621,220
27$6,422,157$2,339,153$282,575$3,800,429
28$6,743,265$2,457,963$296,704$3,988,598
29$7,080,428$2,582,713$311,539$4,186,176
30$7,434,450$2,713,701$327,116$4,393,633
Total$120,000,000$43,288,650$5,280,002$71,431,350

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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.