USA Mega

Connecticut Mega Millions Jackpot Annuity Payout Schedule for Dec 5, 1997

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The tax information provided here is based on 2024 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $8,000,000 for a ticket purchased in 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 exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

Connecticut

Drawing Date:Fri, Dec 5, 1997
Jackpot:$8,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$120,411$21,941$8,417$90,053
2$126,432$23,386$8,838$94,208
3$132,754$24,903$9,279$98,571
4$139,391$26,496$9,743$103,151
5$146,361$28,169$10,231$107,961
6$153,679$29,925$10,742$113,011
7$161,363$31,770$11,279$118,314
8$169,431$33,706$11,843$123,882
9$177,903$35,739$12,435$129,728
10$186,798$37,874$13,057$135,867
11$196,138$40,451$13,710$141,977
12$205,944$43,589$14,396$147,960
13$216,242$46,884$15,115$154,243
14$227,054$50,344$15,871$160,839
15$238,406$53,977$16,665$167,765
16$250,327$57,989$17,498$174,840
17$262,843$62,370$18,373$182,101
18$275,985$66,970$19,291$189,724
19$289,785$71,799$20,256$197,729
20$304,274$76,871$21,269$206,134
21$319,488$82,195$22,332$214,960
22$335,462$87,786$23,449$224,227
23$352,235$93,657$24,621$233,957
24$369,847$99,821$25,852$244,173
25$388,339$106,293$27,145$254,901
26$407,756$113,089$28,502$266,165
27$428,144$120,225$29,927$277,991
28$449,551$127,718$31,424$290,410
29$472,029$135,585$32,995$303,449
30$495,630$143,845$34,645$317,140
Total$8,000,000$1,975,367$559,200$5,465,431

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.