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Connecticut Mega Millions Jackpot Annuity Payout Schedule for Jan 15, 2021

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The tax information provided here is based on 2024 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 $750,000,000 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, Jan 15, 2021
Jackpot:$750,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$11,288,576$4,134,961$789,071$6,364,544
2$11,853,005$4,343,800$828,525$6,680,680
3$12,445,655$4,563,080$869,951$7,012,624
4$13,067,939$4,793,325$913,449$7,361,165
5$13,721,335$5,035,082$959,121$7,727,132
6$14,407,402$5,288,926$1,007,077$8,111,398
7$15,127,772$5,555,463$1,057,431$8,514,877
8$15,884,161$5,835,327$1,110,303$8,938,531
9$16,678,369$6,129,184$1,165,818$9,383,367
10$17,512,287$6,437,734$1,224,109$9,850,444
11$18,387,902$6,761,711$1,285,314$10,340,876
12$19,307,297$7,101,887$1,349,580$10,855,829
13$20,272,661$7,459,072$1,417,059$11,396,530
14$21,286,295$7,834,117$1,487,912$11,964,266
15$22,350,609$8,227,913$1,562,308$12,560,388
16$23,468,140$8,641,399$1,640,423$13,186,317
17$24,641,546$9,075,560$1,722,444$13,843,542
18$25,873,624$9,531,429$1,808,566$14,533,629
19$27,167,305$10,010,091$1,898,995$15,258,220
20$28,525,670$10,512,686$1,993,944$16,019,040
21$29,951,954$11,040,411$2,093,642$16,817,901
22$31,449,551$11,594,522$2,198,324$17,656,706
23$33,022,029$12,176,338$2,308,240$18,537,451
24$34,673,130$12,787,246$2,423,652$19,462,232
25$36,406,787$13,428,699$2,544,834$20,433,253
26$38,227,127$14,102,225$2,672,076$21,452,826
27$40,138,483$14,809,426$2,805,680$22,523,376
28$42,145,406$15,551,988$2,945,964$23,647,454
29$44,252,677$16,331,678$3,093,262$24,827,736
30$46,465,311$17,150,353$3,247,925$26,067,033
Total$750,000,002$276,245,633$52,424,999$421,329,367

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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.