USA Mega

Colorado Mega Millions Jackpot Annuity Payout Schedule for Sep 5, 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 $33,000,000 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, Sep 5, 2014
Jackpot:$33,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$496,697$147,597$21,855$327,246
2$521,532$156,289$22,947$342,296
3$547,609$165,570$24,095$357,944
4$574,989$175,701$25,300$373,989
5$603,739$186,338$26,565$390,836
6$633,926$197,508$27,893$408,525
7$665,622$209,235$29,287$427,099
8$698,903$221,549$30,752$446,602
9$733,848$234,479$32,289$467,080
10$770,541$248,055$33,904$488,582
11$809,068$262,310$35,599$511,159
12$849,521$277,278$37,379$534,864
13$891,997$292,994$39,248$559,755
14$936,597$309,496$41,210$585,891
15$983,427$326,823$43,271$613,333
16$1,032,598$345,016$45,434$642,148
17$1,084,228$364,119$47,706$672,403
18$1,138,439$384,178$50,091$704,171
19$1,195,361$405,239$52,596$737,527
20$1,255,129$427,353$55,226$772,551
21$1,317,886$450,573$57,987$809,326
22$1,383,780$474,954$60,886$847,940
23$1,452,969$500,554$63,931$888,485
24$1,525,618$527,434$67,127$931,057
25$1,601,899$555,657$70,484$975,758
26$1,681,994$585,293$74,008$1,022,693
27$1,766,093$616,409$77,708$1,071,976
28$1,854,398$649,082$81,594$1,123,722
29$1,947,118$683,389$85,673$1,178,056
30$2,044,474$719,410$89,957$1,235,107
Total$33,000,000$11,099,882$1,452,002$20,448,121

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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.