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Connecticut Mega Millions Jackpot Annuity Payout Schedule for Sep 30, 2014

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The tax information provided here is based on 2025 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 $105,000,000 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:Tue, Sep 30, 2014
Jackpot:$105,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,580,401$541,768$110,470$928,162
2$1,659,421$571,006$115,994$972,421
3$1,742,392$601,705$121,793$1,018,893
4$1,829,511$633,939$127,883$1,067,689
5$1,920,987$667,785$134,277$1,118,924
6$2,017,036$703,324$140,991$1,172,722
7$2,117,888$740,639$148,040$1,229,209
8$2,223,783$779,820$155,442$1,288,520
9$2,334,972$820,960$163,215$1,350,797
10$2,451,720$864,157$171,375$1,416,188
11$2,574,306$909,514$179,944$1,484,849
12$2,703,022$957,138$188,941$1,556,942
13$2,838,173$1,007,144$198,388$1,632,640
14$2,980,081$1,059,650$208,308$1,712,123
15$3,129,085$1,114,782$218,723$1,795,580
16$3,285,540$1,172,670$229,659$1,883,210
17$3,449,816$1,233,452$241,142$1,975,222
18$3,622,307$1,297,274$253,199$2,071,834
19$3,803,423$1,364,287$265,859$2,173,277
20$3,993,594$1,434,650$279,152$2,279,792
21$4,193,273$1,508,531$293,110$2,391,632
22$4,402,937$1,586,107$307,765$2,509,065
23$4,623,084$1,667,561$323,154$2,632,369
24$4,854,238$1,753,088$339,311$2,761,839
25$5,096,950$1,842,892$356,277$2,897,782
26$5,351,798$1,937,185$374,091$3,040,522
27$5,619,388$2,036,194$392,795$3,190,399
28$5,900,357$2,140,152$412,435$3,347,770
29$6,195,375$2,249,309$433,057$3,513,009
30$6,505,144$2,363,923$454,710$3,686,511
Total$105,000,000$37,560,606$7,339,500$60,099,892

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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.