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Colorado Mega Millions Jackpot Annuity Payout Schedule for Jan 1, 2021

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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 $401,000,000 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, Jan 1, 2021
Jackpot:$401,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,035,625$2,191,369$265,568$3,578,689
2$6,337,407$2,303,028$278,846$3,755,533
3$6,654,277$2,420,270$292,788$3,941,219
4$6,986,991$2,543,374$307,428$4,136,189
5$7,336,340$2,672,634$322,799$4,340,908
6$7,703,157$2,808,356$338,939$4,555,863
7$8,088,316$2,950,865$355,886$4,781,565
8$8,492,731$3,100,498$373,680$5,018,553
9$8,917,368$3,257,614$392,364$5,267,390
10$9,363,236$3,422,585$411,982$5,528,669
11$9,831,398$3,595,805$432,582$5,803,011
12$10,322,968$3,777,686$454,211$6,091,071
13$10,839,116$3,968,661$476,921$6,393,534
14$11,381,072$4,169,184$500,767$6,711,121
15$11,950,126$4,379,734$525,806$7,044,586
16$12,547,632$4,600,812$552,096$7,394,725
17$13,175,013$4,832,943$579,701$7,762,370
18$13,833,764$5,076,680$608,686$8,148,398
19$14,525,452$5,332,605$639,120$8,553,727
20$15,251,725$5,601,326$671,076$8,979,323
21$16,014,311$5,883,483$704,630$9,426,199
22$16,815,027$6,179,748$739,861$9,895,418
23$17,655,778$6,490,826$776,854$10,388,098
24$18,538,567$6,817,457$815,697$10,905,412
25$19,465,495$7,160,421$856,482$11,448,592
26$20,438,770$7,520,533$899,306$12,018,932
27$21,460,709$7,898,650$944,271$12,617,788
28$22,533,744$8,295,673$991,485$13,246,586
29$23,660,431$8,712,547$1,041,059$13,906,825
30$24,843,453$9,150,265$1,093,112$14,600,076
Total$401,000,001$147,115,632$17,644,003$236,240,370

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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.