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Colorado Mega Millions Jackpot Annuity Payout Schedule for Aug 9, 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 $405,000,000 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 9, 2024
Jackpot:$405,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,095,831$2,213,645$268,217$3,613,969
2$6,400,623$2,326,418$281,627$3,792,577
3$6,720,654$2,444,830$295,709$3,980,115
4$7,056,687$2,569,162$310,494$4,177,031
5$7,409,521$2,699,710$326,019$4,383,791
6$7,779,997$2,836,787$342,320$4,600,890
7$8,168,997$2,980,717$359,436$4,828,845
8$8,577,447$3,131,843$377,408$5,068,196
9$9,006,319$3,290,526$396,278$5,319,515
10$9,456,635$3,457,143$416,092$5,583,400
11$9,929,467$3,632,090$436,897$5,860,480
12$10,425,940$3,815,786$458,741$6,151,413
13$10,947,237$4,008,665$481,678$6,456,893
14$11,494,599$4,211,189$505,762$6,777,647
15$12,069,329$4,423,839$531,050$7,114,439
16$12,672,795$4,647,122$557,603$7,468,070
17$13,306,435$4,881,569$585,483$7,839,383
18$13,971,757$5,127,738$614,757$8,229,262
19$14,670,345$5,386,215$645,495$8,638,634
20$15,403,862$5,657,617$677,770$9,068,475
21$16,174,055$5,942,588$711,658$9,519,808
22$16,982,758$6,241,808$747,241$9,993,708
23$17,831,896$6,555,989$784,603$10,491,303
24$18,723,490$6,885,879$823,834$11,013,778
25$19,659,665$7,232,264$865,025$11,562,376
26$20,642,648$7,595,968$908,277$12,138,404
27$21,674,781$7,977,857$953,690$12,743,234
28$22,758,519$8,378,840$1,001,375$13,378,305
29$23,896,445$8,799,873$1,051,444$14,045,129
30$25,091,268$9,241,957$1,104,016$14,745,295
Total$405,000,001$148,595,634$17,819,999$238,584,365

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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.