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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 $108,000,000 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, Jun 22, 2019
Jackpot:$108,000,000
Federal Tax:  24%
State Tax:4.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,625,555$390,133$65,022$1,170,400
2$1,706,833$409,640$68,273$1,228,920
3$1,792,174$430,122$71,687$1,290,366
4$1,881,783$451,628$75,271$1,354,884
5$1,975,872$474,209$79,035$1,422,628
6$2,074,666$497,920$82,987$1,493,759
7$2,178,399$522,816$87,136$1,568,447
8$2,287,319$548,957$91,493$1,646,870
9$2,401,685$576,404$96,067$1,729,213
10$2,521,769$605,225$100,871$1,815,674
11$2,647,858$635,486$105,914$1,906,458
12$2,780,251$667,260$111,210$2,001,781
13$2,919,263$700,623$116,771$2,101,870
14$3,065,226$735,654$122,609$2,206,963
15$3,218,488$772,437$128,740$2,317,311
16$3,379,412$811,059$135,176$2,433,177
17$3,548,383$851,612$141,935$2,554,836
18$3,725,802$894,192$149,032$2,682,577
19$3,912,092$938,902$156,484$2,816,706
20$4,107,697$985,847$164,308$2,957,541
21$4,313,081$1,035,140$172,523$3,105,419
22$4,528,735$1,086,896$181,149$3,260,689
23$4,755,172$1,141,241$190,207$3,423,724
24$4,992,931$1,198,303$199,717$3,594,910
25$5,242,577$1,258,219$209,703$3,774,656
26$5,504,706$1,321,129$220,188$3,963,388
27$5,779,942$1,387,186$231,198$4,161,558
28$6,068,939$1,456,545$242,758$4,369,636
29$6,372,385$1,529,373$254,895$4,588,118
30$6,691,005$1,605,841$267,640$4,817,523
Total$108,000,000$25,920,000$4,320,000$77,760,000
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