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Mega Millions Annuity Jackpot Analysis for Connecticut (Aug. 4, 2017 Drawing)

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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 $323,000,000 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:  Aug. 4, 2017
Jackpot:$323,000,000
Federal Tax:  24%
State Tax:6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,861,614$1,166,787$339,827$3,354,999
2$5,104,694$1,225,127$356,818$3,522,750
3$5,359,929$1,286,383$374,659$3,698,887
4$5,627,926$1,350,702$393,392$3,883,831
5$5,909,321$1,418,237$413,062$4,078,023
6$6,204,788$1,489,149$433,715$4,281,924
7$6,515,027$1,563,607$455,400$4,496,020
8$6,840,779$1,641,787$478,170$4,720,821
9$7,182,817$1,723,876$502,079$4,956,862
10$7,541,958$1,810,070$527,183$5,204,705
11$7,919,056$1,900,573$553,542$5,464,941
12$8,315,009$1,995,602$581,219$5,738,188
13$8,730,759$2,095,382$610,280$6,025,097
14$9,167,297$2,200,151$640,794$6,326,352
15$9,625,662$2,310,159$672,834$6,642,670
16$10,106,946$2,425,667$706,475$6,974,803
17$10,612,293$2,546,950$741,799$7,323,543
18$11,142,907$2,674,298$778,889$7,689,720
19$11,700,053$2,808,013$817,834$8,074,206
20$12,285,055$2,948,413$858,725$8,477,917
21$12,899,308$3,095,834$901,662$8,901,812
22$13,544,273$3,250,626$946,745$9,346,903
23$14,221,487$3,413,157$994,082$9,814,248
24$14,932,561$3,583,815$1,043,786$10,304,961
25$15,679,189$3,763,005$1,095,975$10,820,209
26$16,463,149$3,951,156$1,150,774$11,361,219
27$17,286,307$4,148,714$1,208,313$11,929,280
28$18,150,622$4,356,149$1,268,728$12,525,744
29$19,058,153$4,573,957$1,332,165$13,152,031
30$20,011,061$4,802,655$1,398,773$13,809,633
Total$323,000,001$77,520,000$22,577,700$222,902,300
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