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Powerball Annuity Jackpot Analysis for Colorado (Apr. 3, 2019 Drawing)

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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:  Apr. 3, 2019
Jackpot:$54,000,000
Federal Tax:  24%
State Tax:4.00%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$812,777$195,067$32,511$585,200
2$853,416$204,820$34,137$614,460
3$896,087$215,061$35,843$645,183
4$940,892$225,814$37,636$677,442
5$987,936$237,105$39,517$711,314
6$1,037,333$248,960$41,493$746,880
7$1,089,200$261,408$43,568$784,224
8$1,143,660$274,478$45,746$823,435
9$1,200,843$288,202$48,034$864,607
10$1,260,885$302,612$50,435$907,837
11$1,323,929$317,743$52,957$953,229
12$1,390,125$333,630$55,605$1,000,890
13$1,459,632$350,312$58,385$1,050,935
14$1,532,613$367,827$61,305$1,103,482
15$1,609,244$386,219$64,370$1,158,656
16$1,689,706$405,529$67,588$1,216,588
17$1,774,191$425,806$70,968$1,277,418
18$1,862,901$447,096$74,516$1,341,289
19$1,956,046$469,451$78,242$1,408,353
20$2,053,848$492,924$82,154$1,478,771
21$2,156,541$517,570$86,262$1,552,709
22$2,264,368$543,448$90,575$1,630,345
23$2,377,586$570,621$95,103$1,711,862
24$2,496,465$599,152$99,859$1,797,455
25$2,621,289$629,109$104,852$1,887,328
26$2,752,353$660,565$110,094$1,981,694
27$2,889,971$693,593$115,599$2,080,779
28$3,034,469$728,273$121,379$2,184,818
29$3,186,193$764,686$127,448$2,294,059
30$3,345,502$802,921$133,820$2,408,762
Total$54,000,000$12,960,000$2,160,000$38,880,000
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