USA Mega

Colorado Mega Millions Jackpot Annuity Payout Schedule for Oct 25, 2022

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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 $45,000,000 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:Tue, Oct 25, 2022
Jackpot:$45,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$677,315$208,794$29,802$438,719
2$711,180$221,324$31,292$458,564
3$746,739$234,481$32,857$479,401
4$784,076$248,296$34,499$501,281
5$823,280$262,801$36,224$524,254
6$864,444$278,032$38,036$548,376
7$907,666$294,024$39,937$573,705
8$953,050$310,816$41,934$600,299
9$1,000,702$328,448$44,031$628,224
10$1,050,737$346,961$46,232$657,544
11$1,103,274$366,399$48,544$688,331
12$1,158,438$386,810$50,971$720,657
13$1,216,360$408,241$53,520$754,599
14$1,277,178$430,743$56,196$790,238
15$1,341,037$454,371$59,006$827,660
16$1,408,088$479,180$61,956$866,952
17$1,478,493$505,230$65,054$908,209
18$1,552,417$532,582$68,306$951,529
19$1,630,038$561,302$71,722$997,015
20$1,711,540$591,458$75,308$1,044,775
21$1,797,117$623,121$79,073$1,094,923
22$1,886,973$656,368$83,027$1,147,578
23$1,981,322$691,277$87,178$1,202,867
24$2,080,388$727,931$91,537$1,260,920
25$2,184,407$766,418$96,114$1,321,875
26$2,293,628$806,830$100,920$1,385,878
27$2,408,309$849,262$105,966$1,453,081
28$2,528,724$893,816$111,264$1,523,645
29$2,655,161$940,597$116,827$1,597,736
30$2,787,919$989,718$122,668$1,675,533
Total$45,000,000$15,395,631$1,980,001$27,624,368

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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.