Colorado Lottery

COLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 19, 2025 is estimated to be $216 Million, with a cash option of 97 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Colorado, your state will take 4% of your lottery winnings.

Please note that the calculation of the MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Colorado MEGA Millions Jackpot/Cash Option for Tue Aug 19, 2025

Draw Date	Jackpot	Cash Option
Tue Aug 19, 2025	$216,000,000	$97,000,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$97,000,000
Federal Tax(24%)	$23,280,000
Additional Federal Tax	$12,570,330
State Tax(4%)	$3,880,000
Net Lumpsum Payment	$57,269,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,251,016	-$1,163,206 -$130,041	$1,957,769
2	$3,413,664	-$1,223,386 -$136,547	$2,053,731
3	$3,584,304	-$1,286,523 -$143,372	$2,154,409
4	$3,763,584	-$1,352,856 -$150,543	$2,260,185
5	$3,951,720	-$1,422,467 -$158,069	$2,371,184
6	$4,149,360	-$1,495,594 -$165,974	$2,487,792
7	$4,356,720	-$1,572,317 -$174,269	$2,610,134
8	$4,574,664	-$1,652,956 -$182,987	$2,738,721
9	$4,803,408	-$1,737,591 -$192,136	$2,873,681
10	$5,043,600	-$1,826,462 -$201,744	$3,015,394
11	$5,295,672	-$1,919,729 -$211,827	$3,164,116
12	$5,560,488	-$2,017,711 -$222,420	$3,320,357
13	$5,838,480	-$2,120,568 -$233,539	$3,484,373
14	$6,130,512	-$2,228,620 -$245,220	$3,656,672
15	$6,437,016	-$2,342,026 -$257,481	$3,837,509
16	$6,758,856	-$2,461,107 -$270,354	$4,027,395
17	$7,096,680	-$2,586,102 -$283,867	$4,226,711
18	$7,451,568	-$2,717,411 -$298,063	$4,436,094
19	$7,824,168	-$2,855,273 -$312,967	$4,655,928
20	$8,215,344	-$3,000,008 -$328,614	$4,886,722
21	$8,626,176	-$3,152,016 -$345,047	$5,129,113
22	$9,057,528	-$3,311,616 -$362,301	$5,383,611
23	$9,510,264	-$3,479,128 -$380,411	$5,650,725
24	$9,985,896	-$3,655,112 -$399,436	$5,931,348
25	$10,485,072	-$3,839,807 -$419,403	$6,225,862
26	$11,009,520	-$4,033,853 -$440,381	$6,535,286
27	$11,559,888	-$4,237,489 -$462,396	$6,860,003
28	$12,137,904	-$4,451,355 -$485,516	$7,201,033
29	$12,744,864	-$4,675,930 -$509,795	$7,559,139
30	$13,382,064	-$4,911,694 -$535,283	$7,935,087