![]() The Payconnexion system is sunsetting, and will no longer be an available option. ![]() June 29, tax payments can no longer be remitted through Pa圜onnexion, by Electronic Fund Transfer (EFT). “Expanding where the program is offered will make our roads safer and cut red tape for folks working toward their American dream.”Įffective after 4 p.m. “Ten years ago, we signed the Colorado Road and Community Safety Act into law to empower new Coloradans - like international students and immigrants - to drive their families to work, school, medical appointments and the supermarket,” Sen. John Hickenlooper, created a self-funded program that enabled undocumented residents and international students to legally obtain a Colorado driver license or identification card. The bill, which was signed into law on Jby then Gov. ![]() “With the bipartisan SB251, over 250,000 Coloradans have been able to get their driver licenses and insurance, making all of us safer on the roads and helping reduce automobile insurance rates for everyone and we are proud to continue building on this important work today and expand access to all DMV locations.” “Here in Colorado, we know that our immigrants strengthen the fabric of who we are,” Gov. Jared Polis and the Division of Motor Vehicles announced that all 36 State driver license offices now offer licensing services to undocumented residents on Friday at the History Colorado Center in Denver. Bill is also getting 100 gift cards to give to the folks at his local City Market, “because they are nice to him”.Ĭelebrating the Colorado Road and Community Safety Act’s (CO-RCSA) 10 year anniversary, Gov. He plans to use his winnings to get back to those things he loves the most in the beautiful Colorado outdoors. As he is retired, Bill is on a fixed budget and with his cost of living increasing, he had to stop his beloved horseback riding and paragliding because of the cost. He chose the cash option of $1,948,019.īill says he has no huge plans for his windfall, other than maybe taking a train trip and buying a new vacuum (how responsible!). When he checked his ticket on the Lottery’s website and realized he had hit the jackpot, Bill said he was “beyond belief” and has been nervous and trembling since the big win. He says he’s played the Lottery weekly for 10 years, but this is by far his biggest prize. Bill came to Colorado after his parents passed away, having remembered the mountains fondly from when he was “an old hippie” who learned to ski here in ‘72. of Carbondale won the $3,896,039 Colorado Lotto+ jackpot!īill is a retired trauma nurse who worked in New York City for 30 years before moving to Colorado and working at Aspen Valley Hospital until he retired last year. The total value is approximately 61% of the advertised jackpot.Bill S. Lump Sum Option: Payment scheme wherein a one-time payment is immediately awarded to the winner. The total value of all payments is equivalent to 100% of the advertised jackpot. These payments are graduated – meaning they increase by 5% each year to account for inflation. This number is based on the funds in the prize pool (including all prior rollovers), expected ticket sales for the next drawing, and current market interest rates.Īnnuity Payout Option: Payment scheme wherein prizes are awarded starting with 1 immediate payment followed by 29 yearly payments. Glossary of TermsĪdvertised Jackpot: The total payment a winner would receive should they choose the annuity option for any given drawing. Numbers Matchedįigures in this chart are rounded to the nearest one and are based on a single $2 play. The Powerball payout chart below captures the different prize tiers and odds of winning. For example, large charitable donations can be written off, meaning reduced tax liabilities. What our Powerball calculator provides is a quick overview of the gross and net (after taxes) winnings you'd receive for both options – allowing you to make a more informed decision when comparing the two.įinally, as an added feature, our tool also breaks down the annuity option into a handy payout schedule so you know how much you'll receive each year. Since the lump sum and annuity option award different payouts, it only follows that your tax liability (federal tax + state tax) will also be different for both. On the other hand, the annuity option awards the winner with the full amount or 100% of the jackpot – starting with one initial payment, followed by annual payments over the next 29 years. Lump Sum/Cash Option Calculator Gross Payout (~61% of the jackpot)Īs you might already know, when a player wins the Powerball jackpot, they have to choose between a single lump sum or 30 annual payments to receive their prize.Ĭhoosing the lump sum, also known as the cash option, reduces the jackpot size to approximately 61% of the original amount, but awards it all at once to the player. Lottery Calculators: From Odds to Taxes.
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