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Powerball Annuity Jackpot Analysis for Colorado

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The Powerball annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $158,000,000 would be for a resident of 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 final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Colorado

Drawing Date:  Sat, Aug 8, 2020
Jackpot:$158,000,000
Federal Tax:  24%
State Tax:4.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,378,127$570,750$95,125$1,712,251
2$2,497,033$599,288$99,881$1,797,864
3$2,621,885$629,252$104,875$1,887,757
4$2,752,979$660,715$110,119$1,982,145
5$2,890,628$693,751$115,625$2,081,252
6$3,035,159$728,438$121,406$2,185,315
7$3,186,917$764,860$127,477$2,294,580
8$3,346,263$803,103$133,851$2,409,310
9$3,513,576$843,258$140,543$2,529,775
10$3,689,255$885,421$147,570$2,656,264
11$3,873,718$929,692$154,949$2,789,077
12$4,067,404$976,177$162,696$2,928,531
13$4,270,774$1,024,986$170,831$3,074,957
14$4,484,313$1,076,235$179,373$3,228,705
15$4,708,528$1,130,047$188,341$3,390,140
16$4,943,955$1,186,549$197,758$3,559,647
17$5,191,152$1,245,877$207,646$3,737,630
18$5,450,710$1,308,170$218,028$3,924,511
19$5,723,246$1,373,579$228,930$4,120,737
20$6,009,408$1,442,258$240,376$4,326,774
21$6,309,878$1,514,371$252,395$4,543,112
22$6,625,372$1,590,089$265,015$4,770,268
23$6,956,641$1,669,594$278,266$5,008,781
24$7,304,473$1,753,073$292,179$5,259,220
25$7,669,696$1,840,727$306,788$5,522,181
26$8,053,181$1,932,764$322,127$5,798,291
27$8,455,840$2,029,402$338,234$6,088,205
28$8,878,632$2,130,872$355,145$6,392,615
29$9,322,564$2,237,415$372,903$6,712,246
30$9,788,692$2,349,286$391,548$7,047,858
Total$158,000,000$37,920,000$6,320,000$113,760,000
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