USA Mega

Colorado Powerball Jackpot Annuity Payout Schedule for Jan 23, 2021

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The tax information provided here is based on 2021 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 $20,000,000 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 prize money, as well as deductions claimed.

State:

Colorado

Drawing Date:Sat, Jan 23, 2021
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 4.63%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$79,904$13,938$207,187
2$316,080$85,172$14,635$216,273
3$331,884$90,704$15,366$225,814
4$348,478$96,512$16,135$235,832
5$365,902$102,610$16,941$246,351
6$384,197$109,013$17,788$257,396
7$403,407$115,737$18,678$268,993
8$423,578$122,796$19,612$281,170
9$444,757$130,209$20,592$293,955
10$466,994$137,992$21,622$307,380
11$490,344$146,165$22,703$321,476
12$514,861$154,746$23,838$336,277
13$540,604$164,096$25,030$351,478
14$567,635$174,097$26,281$367,256
15$596,016$184,598$27,596$383,822
16$625,817$195,625$28,975$401,217
17$657,108$207,202$30,424$419,482
18$689,963$219,359$31,945$438,659
19$724,461$232,123$33,543$458,796
20$760,685$245,526$35,220$479,939
21$798,719$259,598$36,981$502,140
22$838,655$274,374$38,830$525,450
23$880,587$289,890$40,771$549,927
24$924,617$306,180$42,810$575,627
25$970,848$323,286$44,950$602,612
26$1,019,390$341,247$47,198$630,946
27$1,070,360$360,105$49,558$660,697
28$1,123,878$379,907$52,036$691,935
29$1,180,071$400,699$54,637$724,735
30$1,239,075$422,530$57,369$759,176
Total$20,000,000$6,352,002$926,002$12,721,998

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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.