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Connecticut Mega Millions Jackpot Annuity Payout Schedule for Jul 29, 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 $1,337,000,000 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 29, 2022
Jackpot:$1,337,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$20,123,769$7,403,982$1,406,651$11,313,135
2$21,129,957$7,776,272$1,476,984$11,876,701
3$22,186,455$8,167,176$1,550,833$12,468,446
4$23,295,778$8,577,626$1,628,375$13,089,778
5$24,460,566$9,008,597$1,709,794$13,742,175
6$25,683,595$9,461,118$1,795,283$14,427,194
7$26,967,775$9,936,265$1,885,047$15,146,463
8$28,316,164$10,435,168$1,979,300$15,901,696
9$29,731,972$10,959,017$2,078,265$16,694,690
10$31,218,570$11,509,059$2,182,178$17,527,333
11$32,779,499$12,086,602$2,291,287$18,401,610
12$34,418,474$12,693,023$2,405,851$19,319,599
13$36,139,397$13,329,765$2,526,144$20,283,489
14$37,946,368$13,998,344$2,652,451$21,295,573
15$39,843,686$14,700,351$2,785,074$22,358,261
16$41,835,870$15,437,460$2,924,327$23,474,083
17$43,927,663$16,211,423$3,070,544$24,645,696
18$46,124,047$17,024,085$3,224,071$25,875,891
19$48,430,249$17,877,380$3,385,274$27,167,594
20$50,851,761$18,773,340$3,554,538$28,523,884
21$53,394,349$19,714,097$3,732,265$29,947,987
22$56,064,067$20,701,892$3,918,878$31,443,296
23$58,867,270$21,739,078$4,114,822$33,013,370
24$61,810,633$22,828,122$4,320,563$34,661,948
25$64,901,165$23,971,619$4,536,591$36,392,955
26$68,146,224$25,172,291$4,763,421$38,210,512
27$71,553,535$26,432,996$5,001,592$40,118,947
28$75,131,211$27,756,736$5,251,672$42,122,803
29$78,887,772$29,146,663$5,514,255$44,226,853
30$82,832,161$30,606,087$5,789,968$46,436,106
Total$1,337,000,003$493,435,634$93,456,298$750,108,068

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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.