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Colorado Mega Millions Jackpot Annuity Payout Schedule for Aug 23, 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 $535,000,000 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, Aug 23, 2024
Jackpot:$535,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$8,052,518$2,937,619$354,311$4,760,588
2$8,455,144$3,086,591$372,026$4,996,526
3$8,877,901$3,243,011$390,628$5,244,262
4$9,321,796$3,407,252$410,159$5,504,385
5$9,787,885$3,579,705$430,667$5,777,513
6$10,277,280$3,760,781$452,200$6,064,298
7$10,791,144$3,950,911$474,810$6,365,423
8$11,330,701$4,150,547$498,551$6,681,603
9$11,897,236$4,360,165$523,478$7,013,593
10$12,492,098$4,580,264$549,652$7,362,182
11$13,116,703$4,811,368$577,135$7,728,200
12$13,772,538$5,054,027$605,992$8,112,520
13$14,461,165$5,308,819$636,291$8,516,055
14$15,184,223$5,576,350$668,106$8,939,767
15$15,943,434$5,857,258$701,511$9,384,665
16$16,740,606$6,152,212$736,587$9,851,808
17$17,577,636$6,461,913$773,416$10,342,307
18$18,456,518$6,787,100$812,087$10,857,332
19$19,379,344$7,128,545$852,691$11,398,108
20$20,348,311$7,487,063$895,326$11,965,923
21$21,365,727$7,863,507$940,092$12,562,128
22$22,434,013$8,258,773$987,097$13,188,144
23$23,555,714$8,673,802$1,036,451$13,845,461
24$24,733,499$9,109,583$1,088,274$14,535,643
25$25,970,174$9,567,152$1,142,688$15,260,334
26$27,268,684$10,047,601$1,199,822$16,021,261
27$28,632,118$10,552,071$1,259,813$16,820,233
28$30,063,723$11,081,765$1,322,804$17,659,154
29$31,566,909$11,637,944$1,388,944$18,540,021
30$33,145,255$12,221,932$1,458,391$19,464,932
Total$535,000,001$196,695,631$23,540,000$314,764,369

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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.