USA Mega

Colorado Mega Millions Jackpot Annuity Payout Schedule for Jul 5, 2024

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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 $162,000,000 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, Jul 5, 2024
Jackpot:$162,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,438,332$860,371$107,287$1,470,675
2$2,560,249$905,480$112,651$1,542,118
3$2,688,262$952,845$118,284$1,617,134
4$2,822,675$1,002,577$124,198$1,695,900
5$2,963,808$1,054,797$130,408$1,778,604
6$3,111,999$1,109,627$136,928$1,865,444
7$3,267,599$1,167,199$143,774$1,956,625
8$3,430,979$1,227,650$150,963$2,052,366
9$3,602,528$1,291,123$158,511$2,152,893
10$3,782,654$1,357,770$166,437$2,258,447
11$3,971,787$1,427,749$174,759$2,369,279
12$4,170,376$1,501,227$183,497$2,485,653
13$4,378,895$1,578,379$192,671$2,607,845
14$4,597,840$1,659,388$202,305$2,736,146
15$4,827,732$1,744,448$212,420$2,870,863
16$5,069,118$1,833,761$223,041$3,012,316
17$5,322,574$1,927,540$234,193$3,160,841
18$5,588,703$2,026,008$245,903$3,316,792
19$5,868,138$2,129,399$258,198$3,480,541
20$6,161,545$2,237,959$271,108$3,652,477
21$6,469,622$2,351,948$284,663$3,833,011
22$6,793,103$2,471,636$298,897$4,022,571
23$7,132,758$2,597,308$313,841$4,221,609
24$7,489,396$2,729,264$329,533$4,430,598
25$7,863,866$2,867,818$346,010$4,650,038
26$8,257,059$3,013,300$363,311$4,880,449
27$8,669,912$3,166,055$381,476$5,122,381
28$9,103,408$3,326,449$400,550$5,376,409
29$9,558,578$3,494,862$420,577$5,643,139
30$10,036,507$3,671,695$441,606$5,923,205
Total$162,000,000$58,685,632$7,128,000$96,186,369

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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.