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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 $348,000,000 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:  Wed, May 4, 2016
Jackpot:$348,000,000
Federal Tax:  25%
State Tax:4.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,237,899$1,309,475$209,516$3,718,909
2$5,499,794$1,374,949$219,992$3,904,854
3$5,774,784$1,443,696$230,991$4,100,097
4$6,063,523$1,515,881$242,541$4,305,102
5$6,366,699$1,591,675$254,668$4,520,357
6$6,685,034$1,671,259$267,401$4,746,374
7$7,019,286$1,754,822$280,771$4,983,693
8$7,370,251$1,842,563$294,810$5,232,878
9$7,738,763$1,934,691$309,551$5,494,522
10$8,125,701$2,031,425$325,028$5,769,248
11$8,531,986$2,132,997$341,279$6,057,710
12$8,958,586$2,239,646$358,343$6,360,596
13$9,406,515$2,351,629$376,261$6,678,626
14$9,876,841$2,469,210$395,074$7,012,557
15$10,370,683$2,592,671$414,827$7,363,185
16$10,889,217$2,722,304$435,569$7,731,344
17$11,433,677$2,858,419$457,347$8,117,911
18$12,005,361$3,001,340$480,214$8,523,807
19$12,605,629$3,151,407$504,225$8,949,997
20$13,235,911$3,308,978$529,436$9,397,497
21$13,897,706$3,474,427$555,908$9,867,372
22$14,592,592$3,648,148$583,704$10,360,740
23$15,322,221$3,830,555$612,889$10,878,777
24$16,088,332$4,022,083$643,533$11,422,716
25$16,892,749$4,223,187$675,710$11,993,852
26$17,737,387$4,434,347$709,495$12,593,545
27$18,624,256$4,656,064$744,970$13,223,222
28$19,555,469$4,888,867$782,219$13,884,383
29$20,533,242$5,133,311$821,330$14,578,602
30$21,559,904$5,389,976$862,396$15,307,532
Total$348,000,001$87,000,000$13,920,000$247,080,000
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