USA Mega

Colorado Mega Millions Jackpot Annuity Payout Schedule for Sep 20, 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 $47,000,000 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, Sep 20, 2024
Jackpot:$47,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$707,417$219,932$31,126$456,359
2$742,788$233,019$32,683$477,086
3$779,928$246,761$34,317$498,850
4$818,924$261,190$36,033$521,702
5$859,870$276,340$37,834$545,696
6$902,864$292,247$39,726$570,890
7$948,007$308,950$41,712$597,344
8$995,407$326,488$43,798$625,121
9$1,045,178$344,904$45,988$654,286
10$1,097,437$364,239$48,287$684,910
11$1,152,308$384,542$50,702$717,065
12$1,209,924$405,860$53,237$750,828
13$1,270,420$428,243$55,898$786,278
14$1,333,941$451,746$58,693$823,502
15$1,400,638$476,424$61,628$862,586
16$1,470,670$502,336$64,709$903,625
17$1,544,204$529,543$67,945$946,716
18$1,621,414$558,111$71,342$991,961
19$1,702,484$588,107$74,909$1,039,468
20$1,787,609$619,603$78,655$1,089,351
21$1,876,989$652,674$82,588$1,141,728
22$1,970,839$687,398$86,717$1,196,724
23$2,069,380$723,859$91,053$1,254,469
24$2,172,849$762,142$95,605$1,315,102
25$2,281,492$802,340$100,386$1,378,767
26$2,395,567$844,547$105,405$1,445,614
27$2,515,345$888,865$110,675$1,515,804
28$2,641,112$935,399$116,209$1,589,504
29$2,773,168$984,260$122,019$1,666,889
30$2,911,826$1,035,563$128,120$1,748,142
Total$47,000,000$16,135,632$2,067,999$28,796,367

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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.