USA Mega

Colorado Powerball Jackpot Annuity Payout Schedule for Jun 26, 2002

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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 $12,000,000 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:Wed, Jun 26, 2002
Jackpot:$12,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$213,961$46,154$9,414$158,393
2$222,520$48,893$9,791$163,836
3$231,420$51,741$10,182$169,497
4$240,677$54,703$10,590$175,384
5$250,304$57,981$11,013$181,310
6$260,317$61,486$11,454$187,377
7$270,729$65,130$11,912$193,687
8$281,558$68,920$12,389$200,250
9$292,821$72,862$12,884$207,075
10$304,533$76,961$13,399$214,173
11$316,715$81,225$13,935$221,554
12$329,383$85,659$14,493$229,232
13$342,559$90,270$15,073$237,216
14$356,261$95,066$15,675$245,519
15$370,512$100,054$16,303$254,155
16$385,332$105,241$16,955$263,136
17$400,745$110,636$17,633$272,477
18$416,775$116,246$18,338$282,191
19$433,446$122,081$19,072$292,294
20$450,784$128,149$19,834$302,800
21$468,815$134,460$20,628$313,727
22$487,568$141,024$21,453$325,091
23$507,071$147,849$22,311$336,910
24$527,353$154,948$23,204$349,201
25$548,448$162,331$24,132$361,985
26$570,386$170,010$25,097$375,279
27$593,201$177,995$26,101$389,105
28$616,929$186,451$27,145$403,333
29$641,606$195,582$28,231$417,793
30$667,270$205,078$29,360$432,833
Total$12,000,000$3,315,186$528,001$8,156,813

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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.