USA Mega

Colorado Powerball Jackpot Annuity Payout Schedule for Apr 22, 2023

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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 $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 money, as well as deductions claimed.

State:

Colorado

Drawing Date:Sat, Apr 22, 2023
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 4.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$75,735$13,245$212,049
2$316,080$81,003$13,908$221,170
3$331,884$86,534$14,603$230,747
4$348,478$92,342$15,333$240,803
5$365,902$98,441$16,100$251,362
6$384,197$104,844$16,905$262,449
7$403,407$111,567$17,750$274,090
8$423,578$118,627$18,637$286,313
9$444,757$126,040$19,569$299,148
10$466,994$133,823$20,548$312,624
11$490,344$141,995$21,575$326,774
12$514,861$150,576$22,654$341,631
13$540,604$159,586$23,787$357,231
14$567,635$169,047$24,976$373,612
15$596,016$178,980$26,225$390,811
16$625,817$189,740$27,536$408,541
17$657,108$201,318$28,913$426,877
18$689,963$213,474$30,358$446,131
19$724,461$226,238$31,876$466,347
20$760,685$239,641$33,470$487,573
21$798,719$253,714$35,144$509,861
22$838,655$268,490$36,901$533,264
23$880,587$284,005$38,746$557,836
24$924,617$300,296$40,683$583,638
25$970,848$317,401$42,717$610,729
26$1,019,390$335,362$44,853$639,175
27$1,070,360$354,221$47,096$669,043
28$1,123,878$374,022$49,451$700,404
29$1,180,071$394,814$51,923$733,334
30$1,239,075$416,645$54,519$767,910
Total$20,000,000$6,198,521$880,001$12,921,477

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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.