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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 2022 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 prize 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$7,408,749$1,406,651$11,308,368
2$21,129,957$7,781,039$1,476,984$11,871,934
3$22,186,455$8,171,943$1,550,833$12,463,678
4$23,295,778$8,582,393$1,628,375$13,085,010
5$24,460,566$9,013,364$1,709,794$13,737,408
6$25,683,595$9,465,885$1,795,283$14,422,426
7$26,967,775$9,941,032$1,885,047$15,141,696
8$28,316,164$10,439,936$1,979,300$15,896,928
9$29,731,972$10,963,785$2,078,265$16,689,923
10$31,218,570$11,513,826$2,182,178$17,522,566
11$32,779,499$12,091,370$2,291,287$18,396,842
12$34,418,474$12,697,790$2,405,851$19,314,832
13$36,139,397$13,334,532$2,526,144$20,278,722
14$37,946,368$14,003,111$2,652,451$21,290,806
15$39,843,686$14,705,119$2,785,074$22,353,493
16$41,835,870$15,442,227$2,924,327$23,469,316
17$43,927,663$16,216,190$3,070,544$24,640,929
18$46,124,047$17,028,852$3,224,071$25,871,124
19$48,430,249$17,882,147$3,385,274$27,162,827
20$50,851,761$18,778,107$3,554,538$28,519,117
21$53,394,349$19,718,864$3,732,265$29,943,220
22$56,064,067$20,706,660$3,918,878$31,438,529
23$58,867,270$21,743,845$4,114,822$33,008,603
24$61,810,633$22,832,889$4,320,563$34,657,181
25$64,901,165$23,976,386$4,536,591$36,388,187
26$68,146,224$25,177,058$4,763,421$38,205,745
27$71,553,535$26,437,763$5,001,592$40,114,180
28$75,131,211$27,761,503$5,251,672$42,118,036
29$78,887,772$29,151,431$5,514,255$44,222,086
30$82,832,161$30,610,855$5,789,968$46,431,338
Total$1,337,000,003$493,578,651$93,456,298$749,965,050

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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.