USA Mega

Colorado Mega Millions Jackpot Annuity Payout Schedule for Aug 1, 2023

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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 $1,100,000,000 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, Aug 1, 2023
Jackpot:$1,100,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$16,556,579$6,084,122$728,489$9,743,967
2$17,384,408$6,390,419$764,914$10,229,075
3$18,253,628$6,712,030$803,160$10,738,438
4$19,166,310$7,049,722$843,318$11,273,270
5$20,124,624$7,404,299$885,483$11,834,842
6$21,130,856$7,776,604$929,758$12,424,494
7$22,187,399$8,167,525$976,246$13,043,628
8$23,296,769$8,577,992$1,025,058$13,693,719
9$24,461,608$9,008,983$1,076,311$14,376,314
10$25,684,688$9,461,522$1,130,126$15,093,039
11$26,968,922$9,936,689$1,186,633$15,845,601
12$28,317,368$10,435,614$1,245,964$16,635,790
13$29,733,237$10,959,485$1,308,262$17,465,489
14$31,219,899$11,509,550$1,373,676$18,336,673
15$32,780,893$12,087,118$1,442,359$19,251,416
16$34,419,938$12,693,565$1,514,477$20,211,896
17$36,140,935$13,330,334$1,590,201$21,220,400
18$37,947,982$13,998,941$1,669,711$22,279,329
19$39,845,380$14,700,978$1,753,197$23,391,205
20$41,837,650$15,438,118$1,840,857$24,558,675
21$43,929,532$16,212,115$1,932,899$25,784,518
22$46,126,009$17,024,811$2,029,544$27,071,653
23$48,432,309$17,878,142$2,131,022$28,423,145
24$50,853,924$18,774,140$2,237,573$29,842,212
25$53,396,620$19,714,937$2,349,451$31,332,232
26$56,066,452$20,702,775$2,466,924$32,896,753
27$58,869,775$21,740,004$2,590,270$34,539,500
28$61,813,263$22,829,095$2,719,784$36,264,384
29$64,903,926$23,972,640$2,855,773$38,075,513
30$68,149,123$25,173,363$2,998,561$39,977,198
Total$1,100,000,002$405,745,632$48,400,001$645,854,368

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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.