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Connecticut Mega Millions Jackpot Annuity Payout Schedule for May 29, 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 $336,000,000 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, May 29, 2020
Jackpot:$336,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,057,282$1,835,267$353,504$2,868,511
2$5,310,146$1,928,826$371,179$3,010,141
3$5,575,654$2,027,064$389,738$3,158,851
4$5,854,436$2,130,214$409,225$3,314,998
5$6,147,158$2,238,521$429,686$3,478,951
6$6,454,516$2,352,243$451,171$3,651,102
7$6,777,242$2,471,652$473,729$3,831,861
8$7,116,104$2,597,031$497,416$4,021,658
9$7,471,909$2,728,679$522,286$4,220,944
10$7,845,505$2,866,909$548,401$4,430,195
11$8,237,780$3,012,051$575,821$4,649,908
12$8,649,669$3,164,450$604,612$4,880,607
13$9,082,152$3,324,469$634,842$5,122,841
14$9,536,260$3,492,488$666,585$5,377,187
15$10,013,073$3,668,909$699,914$5,644,250
16$10,513,727$3,854,151$734,909$5,924,666
17$11,039,413$4,048,655$771,655$6,219,103
18$11,591,383$4,252,884$810,238$6,528,262
19$12,170,953$4,467,325$850,750$6,852,878
20$12,779,500$4,692,487$893,287$7,193,726
21$13,418,475$4,928,908$937,951$7,551,616
22$14,089,399$5,177,150$984,849$7,927,400
23$14,793,869$5,437,804$1,034,091$8,321,974
24$15,533,562$5,711,490$1,085,796$8,736,276
25$16,310,240$5,998,861$1,140,086$9,171,293
26$17,125,753$6,300,601$1,197,090$9,628,062
27$17,982,040$6,617,427$1,256,945$10,107,669
28$18,881,142$6,950,095$1,319,792$10,611,255
29$19,825,199$7,299,396$1,385,781$11,140,022
30$20,816,459$7,666,162$1,455,071$11,695,227
Total$336,000,001$123,242,169$23,486,400$189,271,434

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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.