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Connecticut Mega Millions Jackpot Annuity Payout Schedule for Sep 5, 2014

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The tax information provided here is based on 2022 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 $33,000,000 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, Sep 5, 2014
Jackpot:$33,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$496,697$147,597$34,719$314,381
2$521,532$156,289$36,455$328,788
3$547,609$165,570$38,278$343,761
4$574,989$175,701$40,192$359,097
5$603,739$186,338$42,201$375,199
6$633,926$197,508$44,311$392,107
7$665,622$209,235$46,527$409,860
8$698,903$221,549$48,853$428,501
9$733,848$234,479$51,296$448,073
10$770,541$248,055$53,861$468,625
11$809,068$262,310$56,554$490,204
12$849,521$277,278$59,382$512,862
13$891,997$292,994$62,351$536,653
14$936,597$309,496$65,468$561,633
15$983,427$326,823$68,742$587,862
16$1,032,598$345,016$72,179$615,403
17$1,084,228$364,119$75,788$644,321
18$1,138,439$384,178$79,577$674,685
19$1,195,361$405,239$83,556$706,567
20$1,255,129$427,353$87,734$740,043
21$1,317,886$450,573$92,120$775,193
22$1,383,780$474,954$96,726$812,100
23$1,452,969$500,554$101,563$850,853
24$1,525,618$527,434$106,641$891,543
25$1,601,899$555,657$111,973$934,268
26$1,681,994$585,293$117,571$979,130
27$1,766,093$616,409$123,450$1,026,234
28$1,854,398$649,082$129,622$1,075,693
29$1,947,118$683,389$136,104$1,127,626
30$2,044,474$719,410$142,909$1,182,155
Total$33,000,000$11,099,882$2,306,703$19,593,420

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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.