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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 $133,000,000 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, Sep 5, 2015
Jackpot:$133,000,000
Federal Tax:  25%
State Tax:4.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,371,403$592,851$94,856$1,683,696
2$2,466,259$616,565$98,650$1,751,044
3$2,564,910$641,227$102,596$1,821,086
4$2,667,506$666,877$106,700$1,893,929
5$2,774,206$693,552$110,968$1,969,686
6$2,885,175$721,294$115,407$2,048,474
7$3,000,582$750,145$120,023$2,130,413
8$3,120,605$780,151$124,824$2,215,629
9$3,245,429$811,357$129,817$2,304,255
10$3,375,246$843,812$135,010$2,396,425
11$3,510,256$877,564$140,410$2,492,282
12$3,650,666$912,667$146,027$2,591,973
13$3,796,693$949,173$151,868$2,695,652
14$3,948,561$987,140$157,942$2,803,478
15$4,106,503$1,026,626$164,260$2,915,617
16$4,270,763$1,067,691$170,831$3,032,242
17$4,441,594$1,110,398$177,664$3,153,532
18$4,619,257$1,154,814$184,770$3,279,673
19$4,804,028$1,201,007$192,161$3,410,860
20$4,996,189$1,249,047$199,848$3,547,294
21$5,196,036$1,299,009$207,841$3,689,186
22$5,403,878$1,350,969$216,155$3,836,753
23$5,620,033$1,405,008$224,801$3,990,223
24$5,844,834$1,461,209$233,793$4,149,832
25$6,078,628$1,519,657$243,145$4,315,826
26$6,321,773$1,580,443$252,871$4,488,459
27$6,574,644$1,643,661$262,986$4,667,997
28$6,837,629$1,709,407$273,505$4,854,717
29$7,111,135$1,777,784$284,445$5,048,906
30$7,395,580$1,848,895$295,823$5,250,862
Total$133,000,000$33,250,000$5,320,000$94,430,000
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