Jackpot Analysis Colorado Mega Millions

Jackpot Analysis for Colorado Mega Millions
The jackpot for the MEGA Millions draw on Fri Nov 15, 2024, is projected to be $387 Million, with an option for a cash payout of $181.4 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Colorado residents, the state will deduct 4% from your lottery earnings.

Colorado MEGA Millions Jackpot/Cash Option for Fri Nov 15, 2024
Draw DateFri Nov 15, 2024
Projected Jackpot$387,000,000
Cash Value$181,400,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$181,400,000
Federal Tax(24%)$43,536,000
Additional Federal Tax$23,542,330
State Tax(4%)$7,256,000
Net Lumpsum Payment$107,065,670
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $5,824,737 $2,115,483
$232,989
$3,476,265
2 $6,116,148 $2,223,305
$244,646
$3,648,197
3 $6,421,878 $2,336,425
$256,875
$3,828,578
4 $6,743,088 $2,455,273
$269,724
$4,018,091
5 $7,080,165 $2,579,991
$283,207
$4,216,967
6 $7,434,270 $2,711,010
$297,371
$4,425,889
7 $7,805,790 $2,848,473
$312,232
$4,645,085
8 $8,196,273 $2,992,951
$327,851
$4,875,471
9 $8,606,106 $3,144,590
$344,244
$5,117,272
10 $9,036,450 $3,303,817
$361,458
$5,371,175
11 $9,488,079 $3,470,920
$379,523
$5,637,636
12 $9,962,541 $3,646,471
$398,502
$5,917,568
13 $10,460,610 $3,830,756
$418,424
$6,211,430
14 $10,983,834 $4,024,349
$439,353
$6,520,132
15 $11,532,987 $4,227,536
$461,319
$6,844,132
16 $12,109,617 $4,440,889
$484,385
$7,184,343
17 $12,714,885 $4,664,838
$508,595
$7,541,452
18 $13,350,726 $4,900,099
$534,029
$7,916,598
19 $14,018,301 $5,147,102
$560,732
$8,310,467
20 $14,719,158 $5,406,419
$588,766
$8,723,973
21 $15,455,232 $5,678,766
$618,209
$9,158,257
22 $16,228,071 $5,964,717
$649,123
$9,614,231
23 $17,039,223 $6,264,843
$681,569
$10,092,811
24 $17,891,397 $6,580,147
$715,656
$10,595,594
25 $18,785,754 $6,911,059
$751,430
$11,123,265
26 $19,725,390 $7,258,725
$789,016
$11,677,649
27 $20,711,466 $7,623,573
$828,459
$12,259,434
28 $21,747,078 $8,006,749
$869,883
$12,870,446
29 $22,834,548 $8,409,113
$913,382
$13,512,053
30 $23,976,198 $8,831,524
$959,048
$14,185,626