Colorado Lottery Tax Calculator
Calculate your take-home winnings after 4.40% Colorado state tax and federal taxes.
State Tax Rate
4.40%
Colorado Income Tax
Federal Tax Rate
24–37%
24% withheld upfront
Max Combined Rate
41.40%
Federal + state
Colorado withholds 4.40% state income tax on lottery prizes above the threshold, in addition to 24% federal withholding. Your maximum combined rate could reach 41.40%.
Enter Your Winnings
Lump sum is approximately 55% of the advertised jackpot
Your estimated take-home winnings
$363,753
After 33.86% effective tax rate
Tax Breakdown
Cash value before taxes
Winnings Distribution
Frequently Asked Questions — Colorado Lottery Taxes
How much tax do I pay on a $1 million lottery win in Colorado?
On a $1 million lottery win in Colorado, the lump sum cash value is approximately $550,000. Federal withholding is 24% ($132,000) and Colorado state tax is 4.40% ($24,200). Your estimated take-home lump sum is approximately $393,800 — though your final federal tax bill may be higher depending on your total income for the year.
Does Colorado tax lottery winnings?
Yes. Colorado taxes lottery winnings at a 4.40% state income tax rate. This is in addition to federal taxes of 24-37%. The Colorado lottery withholds state taxes automatically on prizes above the threshold.
What is the lottery tax rate in Colorado?
In Colorado, the lottery tax rate is 4.40% at the state level, plus federal taxes of 24-37%. The federal government withholds 24% upfront on prizes over $5,000. Combined, lottery winners in Colorado may pay up to 41.40% in total taxes.
Lottery Tax in Colorado
Colorado imposes a 4.40% state income tax on lottery winnings (Colorado Income Tax). This is in addition to federal taxes of up to 37%. Combined, lottery winners in Colorado may pay up to 41.40% in total taxes.
The Colorado lottery withholds state taxes automatically on prizes over a certain threshold. If you are a non-resident winner, different withholding rates may apply.
Tax Sources & References
Federal withholding rates are based on IRS Topic No. 419 — Gambling Income and Losses. State tax rates are sourced from each state's department of revenue. Official Colorado lottery rules and prize information are published on the Colorado Lottery official website.
Disclaimer
This calculator provides estimates only and does not constitute tax advice. Actual tax amounts may vary based on your individual circumstances, deductions, and other income. Please consult a qualified tax professional for advice specific to your situation.