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Colorado Mega Millions Jackpot Annuity Payout Schedule for Dec 16, 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 $429,000,000 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, Dec 16, 2022
Jackpot:$429,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,457,066$2,347,302$284,111$3,825,653
2$6,779,919$2,466,758$298,316$4,014,845
3$7,118,915$2,592,186$313,232$4,213,496
4$7,474,861$2,723,886$328,894$4,422,081
5$7,848,603$2,862,171$345,339$4,641,094
6$8,241,034$3,007,370$362,605$4,871,058
7$8,653,086$3,159,829$380,736$5,112,520
8$9,085,740$3,319,912$399,773$5,366,056
9$9,540,027$3,487,998$419,761$5,632,268
10$10,017,028$3,664,488$440,749$5,911,791
11$10,517,880$3,849,803$462,787$6,205,290
12$11,043,774$4,044,384$485,926$6,513,464
13$11,595,962$4,248,694$510,222$6,837,046
14$12,175,760$4,463,219$535,733$7,176,808
15$12,784,548$4,688,471$562,520$7,533,558
16$13,423,776$4,924,985$590,646$7,908,145
17$14,094,964$5,173,325$620,178$8,301,461
18$14,799,713$5,434,081$651,187$8,714,444
19$15,539,698$5,707,876$683,747$9,148,075
20$16,316,683$5,995,361$717,934$9,603,389
21$17,132,517$6,297,219$753,831$10,081,467
22$17,989,143$6,614,171$791,522$10,583,450
23$18,888,601$6,946,970$831,098$11,110,532
24$19,833,030$7,296,409$872,653$11,663,968
25$20,824,682$7,663,320$916,286$12,245,076
26$21,865,916$8,048,577$962,100$12,855,239
27$22,959,212$8,453,096$1,010,205$13,495,911
28$24,107,172$8,877,842$1,060,716$14,168,615
29$25,312,531$9,323,824$1,113,751$14,874,955
30$26,578,158$9,792,106$1,169,439$15,616,613
Total$429,000,001$157,475,633$18,875,997$252,648,368

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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.