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Connecticut Mega Millions Jackpot Annuity Payout Schedule for Jul 22, 2022

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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 $660,000,000 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, Jul 22, 2022
Jackpot:$660,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,933,947$3,633,748$694,383$5,605,816
2$10,430,645$3,817,526$729,102$5,884,016
3$10,952,177$4,010,493$765,557$6,176,126
4$11,499,786$4,213,109$803,835$6,482,842
5$12,074,775$4,425,854$844,027$6,804,893
6$12,678,514$4,649,238$886,228$7,143,048
7$13,312,440$4,883,790$930,540$7,498,110
8$13,978,061$5,130,070$977,066$7,870,924
9$14,676,965$5,388,665$1,025,920$8,262,380
10$15,410,813$5,660,188$1,077,216$8,673,408
11$16,181,353$5,945,288$1,131,077$9,104,988
12$16,990,421$6,244,643$1,187,630$9,558,147
13$17,839,942$6,558,966$1,247,012$10,033,964
14$18,731,939$6,889,005$1,309,363$10,533,571
15$19,668,536$7,235,546$1,374,831$11,058,159
16$20,651,963$7,599,414$1,443,572$11,608,977
17$21,684,561$7,981,475$1,515,751$12,187,335
18$22,768,789$8,382,640$1,591,538$12,794,611
19$23,907,228$8,803,862$1,671,115$13,432,251
20$25,102,590$9,246,146$1,754,671$14,101,773
21$26,357,719$9,710,544$1,842,405$14,804,771
22$27,675,605$10,198,162$1,934,525$15,542,919
23$29,059,386$10,710,160$2,031,251$16,317,974
24$30,512,354$11,247,759$2,132,814$17,131,782
25$32,037,972$11,812,237$2,239,454$17,986,280
26$33,639,871$12,404,940$2,351,427$18,883,504
27$35,321,865$13,027,278$2,468,998$19,825,589
28$37,087,958$13,680,732$2,592,448$20,814,777
29$38,942,356$14,366,859$2,722,071$21,853,426
30$40,889,474$15,087,293$2,858,174$22,944,006
Total$660,000,001$242,945,630$46,134,001$370,920,367

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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.