USA Mega

Colorado Powerball Jackpot Annuity Payout Schedule for May 20, 2024

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The tax information provided here is based on 2024 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Powerball annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $88,000,000 for a ticket purchased in 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 exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

Colorado

Drawing Date:Mon, May 20, 2024
Jackpot:$88,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,324,526$448,262$58,279$817,985
2$1,390,753$472,766$61,193$856,793
3$1,460,290$498,495$64,253$897,542
4$1,533,305$525,511$67,465$940,329
5$1,609,970$553,877$70,839$985,255
6$1,690,468$583,661$74,381$1,032,427
7$1,774,992$614,935$78,100$1,081,958
8$1,863,742$647,772$82,005$1,133,965
9$1,956,929$682,251$86,105$1,188,572
10$2,054,775$718,455$90,410$1,245,910
11$2,157,514$756,468$94,931$1,306,115
12$2,265,389$796,382$99,677$1,369,330
13$2,378,659$838,292$104,661$1,435,706
14$2,497,592$882,297$109,894$1,505,401
15$2,622,471$928,502$115,389$1,578,581
16$2,753,595$977,018$121,158$1,655,419
17$2,891,275$1,027,959$127,216$1,736,099
18$3,035,839$1,081,448$133,577$1,820,814
19$3,187,630$1,137,611$140,256$1,909,764
20$3,347,012$1,196,582$147,269$2,003,161
21$3,514,363$1,258,502$154,632$2,101,229
22$3,690,081$1,323,518$162,364$2,204,200
23$3,874,585$1,391,784$170,482$2,312,319
24$4,068,314$1,463,464$179,006$2,425,844
25$4,271,730$1,538,728$187,956$2,545,046
26$4,485,316$1,617,755$197,354$2,670,208
27$4,709,582$1,700,733$207,222$2,801,627
28$4,945,061$1,787,860$217,583$2,939,618
29$5,192,314$1,879,344$228,462$3,084,508
30$5,451,930$1,975,402$239,885$3,236,643
Total$88,000,000$31,305,634$3,872,004$52,822,368

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.