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Connecticut Mega Millions Jackpot Annuity Payout Schedule for Aug 25, 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 $57,000,000 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:Tue, Aug 25, 2020
Jackpot:$57,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$857,932$281,507$59,969$516,455
2$900,828$297,379$62,968$540,482
3$945,870$314,044$66,116$565,709
4$993,163$331,543$69,422$592,199
5$1,042,821$349,916$72,893$620,012
6$1,094,963$369,208$76,538$649,216
7$1,149,711$389,465$80,365$679,881
8$1,207,196$410,735$84,383$712,078
9$1,267,556$433,068$88,602$745,886
10$1,330,934$456,518$93,032$781,384
11$1,397,481$481,140$97,684$818,657
12$1,467,355$506,993$102,568$857,793
13$1,540,722$534,139$107,696$898,886
14$1,617,758$562,643$113,081$942,034
15$1,698,646$592,571$118,735$987,340
16$1,783,579$623,996$124,672$1,034,910
17$1,872,758$656,993$130,906$1,084,859
18$1,966,395$691,639$137,451$1,137,306
19$2,064,715$728,017$144,324$1,192,375
20$2,167,951$766,214$151,540$1,250,197
21$2,276,348$806,321$159,117$1,310,911
22$2,390,166$848,434$167,073$1,374,660
23$2,509,674$892,652$175,426$1,441,596
24$2,635,158$939,081$184,198$1,511,880
25$2,766,916$987,831$193,407$1,585,677
26$2,905,262$1,039,019$203,078$1,663,165
27$3,050,525$1,092,766$213,232$1,744,527
28$3,203,051$1,149,201$223,893$1,829,957
29$3,363,203$1,208,458$235,088$1,919,658
30$3,531,364$1,270,677$246,842$2,013,845
Total$57,000,000$20,012,168$3,984,299$33,003,535

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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.