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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 $138,000,000 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, May 23, 2015
Jackpot:$138,000,000
Federal Tax:  25%
State Tax:4.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,460,554$615,138$98,422$1,746,993
2$2,558,976$639,744$102,359$1,816,873
3$2,661,335$665,334$106,453$1,889,548
4$2,767,788$691,947$110,712$1,965,130
5$2,878,500$719,625$115,140$2,043,735
6$2,993,640$748,410$119,746$2,125,484
7$3,113,385$778,346$124,535$2,210,504
8$3,237,921$809,480$129,517$2,298,924
9$3,367,438$841,859$134,698$2,390,881
10$3,502,135$875,534$140,085$2,486,516
11$3,642,221$910,555$145,689$2,585,977
12$3,787,909$946,977$151,516$2,689,416
13$3,939,426$984,856$157,577$2,796,992
14$4,097,003$1,024,251$163,880$2,908,872
15$4,260,883$1,065,221$170,435$3,025,227
16$4,431,318$1,107,830$177,253$3,146,236
17$4,608,571$1,152,143$184,343$3,272,085
18$4,792,914$1,198,228$191,717$3,402,969
19$4,984,630$1,246,158$199,385$3,539,088
20$5,184,015$1,296,004$207,361$3,680,651
21$5,391,376$1,347,844$215,655$3,827,877
22$5,607,031$1,401,758$224,281$3,980,992
23$5,831,312$1,457,828$233,252$4,140,232
24$6,064,565$1,516,141$242,583$4,305,841
25$6,307,147$1,576,787$252,286$4,478,075
26$6,559,433$1,639,858$262,377$4,657,198
27$6,821,811$1,705,453$272,872$4,843,486
28$7,094,683$1,773,671$283,787$5,037,225
29$7,378,470$1,844,618$295,139$5,238,714
30$7,673,609$1,918,402$306,944$5,448,263
Total$138,000,000$34,500,000$5,520,000$97,980,000
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