USA Mega
Home of Mega Millions and Powerball, the USA's biggest multi-state lottery games.
Marketplace

Mega Millions Annuity Jackpot Analysis for Connecticut (Jul. 28, 2020 Drawing)

Media: You may freely use any information on this page, but you must credit www.usamega.com.

The Mega Millions annuity jackpot is awarded according to an 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 would be for a resident of Connecticut, 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 final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Connecticut

Drawing Date:  Jul. 28, 2020
Jackpot:$20,000,000
Federal Tax:  24%
State Tax:6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$72,247$21,042$207,740
2$316,080$75,859$22,094$218,127
3$331,884$79,652$23,199$229,033
4$348,478$83,635$24,359$240,485
5$365,902$87,817$25,577$252,509
6$384,197$92,207$26,855$265,135
7$403,407$96,818$28,198$278,391
8$423,578$101,659$29,608$292,311
9$444,757$106,742$31,088$306,926
10$466,994$112,079$32,643$322,273
11$490,344$117,683$34,275$338,386
12$514,861$123,567$35,989$355,306
13$540,604$129,745$37,788$373,071
14$567,635$136,232$39,678$391,725
15$596,016$143,044$41,662$411,311
16$625,817$150,196$43,745$431,876
17$657,108$157,706$45,932$453,470
18$689,963$165,591$48,228$476,144
19$724,461$173,871$50,640$499,951
20$760,685$182,564$53,172$524,948
21$798,719$191,693$55,830$551,196
22$838,655$201,277$58,622$578,756
23$880,587$211,341$61,553$607,693
24$924,617$221,908$64,631$638,078
25$970,848$233,003$67,862$669,982
26$1,019,390$244,654$71,255$703,481
27$1,070,360$256,886$74,818$738,655
28$1,123,878$269,731$78,559$775,588
29$1,180,071$283,217$82,487$814,367
30$1,239,075$297,378$86,611$855,086
Total$20,000,000$4,800,000$1,398,000$13,802,000
<( Back )Mega Millions Jackpot Analysis
(Current Drawing)
Top ^



Accuracy Statement  |  Advertise  |  Privacy Policy  |  Site Map  |  DMCA  |  Terms of Use
Copyright © 1999-2020 Speednet Group.  All rights reserved.