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Connecticut Mega Millions Jackpot Annuity Payout Schedule for Nov 20, 2020

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The tax information provided here is based on 2021 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 $188,000,000 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 prize money, as well as deductions claimed.

State:

Connecticut

Drawing Date:Fri, Nov 20, 2020
Jackpot:$188,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,829,670$1,011,050$197,794$1,620,826
2$2,971,153$1,063,399$207,684$1,700,071
3$3,119,711$1,118,365$218,068$1,783,278
4$3,275,697$1,176,080$228,971$1,870,645
5$3,439,481$1,236,680$240,420$1,962,381
6$3,611,455$1,300,311$252,441$2,058,704
7$3,792,028$1,367,123$265,063$2,159,843
8$3,981,630$1,437,275$278,316$2,266,039
9$4,180,711$1,510,935$292,232$2,377,544
10$4,389,747$1,588,278$306,843$2,494,625
11$4,609,234$1,669,489$322,185$2,617,560
12$4,839,696$1,754,760$338,295$2,746,641
13$5,081,680$1,844,294$355,209$2,882,177
14$5,335,764$1,938,305$372,970$3,024,489
15$5,602,553$2,037,017$391,618$3,173,917
16$5,882,680$2,140,664$411,199$3,330,817
17$6,176,814$2,249,494$431,759$3,495,561
18$6,485,655$2,363,765$453,347$3,668,543
19$6,809,938$2,483,749$476,015$3,850,174
20$7,150,435$2,609,733$499,815$4,040,886
21$7,507,956$2,742,016$524,806$4,241,134
22$7,883,354$2,880,913$551,046$4,451,394
23$8,277,522$3,026,755$578,599$4,672,168
24$8,691,398$3,179,889$607,529$4,903,980
25$9,125,968$3,340,680$637,905$5,147,382
26$9,582,266$3,509,511$669,800$5,402,955
27$10,061,380$3,686,783$703,290$5,671,307
28$10,564,449$3,872,918$738,455$5,953,075
29$11,092,671$4,068,361$775,378$6,248,933
30$11,647,305$4,273,575$814,147$6,559,583
Total$188,000,000$68,482,167$13,141,199$106,376,632

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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.