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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 $54,000,000 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, Dec 3, 2016
Jackpot:$54,000,000
Federal Tax:  25%
State Tax:4.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$812,777$203,194$32,511$577,072
2$853,416$213,354$34,137$605,926
3$896,087$224,022$35,843$636,222
4$940,892$235,223$37,636$668,033
5$987,936$246,984$39,517$701,435
6$1,037,333$259,333$41,493$736,506
7$1,089,200$272,300$43,568$773,332
8$1,143,660$285,915$45,746$811,998
9$1,200,843$300,211$48,034$852,598
10$1,260,885$315,221$50,435$895,228
11$1,323,929$330,982$52,957$939,990
12$1,390,125$347,531$55,605$986,989
13$1,459,632$364,908$58,385$1,036,338
14$1,532,613$383,153$61,305$1,088,155
15$1,609,244$402,311$64,370$1,142,563
16$1,689,706$422,427$67,588$1,199,691
17$1,774,191$443,548$70,968$1,259,676
18$1,862,901$465,725$74,516$1,322,660
19$1,956,046$489,011$78,242$1,388,793
20$2,053,848$513,462$82,154$1,458,232
21$2,156,541$539,135$86,262$1,531,144
22$2,264,368$566,092$90,575$1,607,701
23$2,377,586$594,397$95,103$1,688,086
24$2,496,465$624,116$99,859$1,772,490
25$2,621,289$655,322$104,852$1,861,115
26$2,752,353$688,088$110,094$1,954,171
27$2,889,971$722,493$115,599$2,051,879
28$3,034,469$758,617$121,379$2,154,473
29$3,186,193$796,548$127,448$2,262,197
30$3,345,502$836,376$133,820$2,375,307
Total$54,000,000$13,500,000$2,160,000$38,340,000
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