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Connecticut Mega Millions Jackpot Annuity Payout Schedule for Sep 30, 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 $355,000,000 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, Sep 30, 2022
Jackpot:$355,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,343,259$1,935,194$373,494$3,034,572
2$5,610,422$2,034,044$392,169$3,184,210
3$5,890,943$2,137,837$411,777$3,341,330
4$6,185,491$2,246,819$432,366$3,506,306
5$6,494,765$2,361,251$453,984$3,679,530
6$6,819,503$2,481,404$476,683$3,861,416
7$7,160,479$2,607,565$500,517$4,052,396
8$7,518,503$2,740,034$525,543$4,252,926
9$7,894,428$2,879,126$551,821$4,463,481
10$8,289,149$3,025,173$579,412$4,684,565
11$8,703,607$3,178,522$608,382$4,916,702
12$9,138,787$3,339,539$638,801$5,160,447
13$9,595,726$3,508,606$670,741$5,416,379
14$10,075,513$3,686,127$704,278$5,685,107
15$10,579,288$3,872,524$739,492$5,967,272
16$11,108,253$4,068,241$776,467$6,263,545
17$11,663,665$4,273,744$815,290$6,574,631
18$12,246,849$4,489,522$856,055$6,901,272
19$12,859,191$4,716,088$898,857$7,244,245
20$13,502,151$4,953,983$943,800$7,604,367
21$14,177,258$5,203,773$990,990$7,982,494
22$14,886,121$5,466,052$1,040,540$8,379,529
23$15,630,427$5,741,446$1,092,567$8,796,414
24$16,411,948$6,030,609$1,147,195$9,234,144
25$17,232,546$6,334,230$1,204,555$9,693,761
26$18,094,173$6,653,032$1,264,783$10,176,359
27$18,998,882$6,987,774$1,328,022$10,683,086
28$19,948,826$7,339,253$1,394,423$11,215,149
29$20,946,267$7,708,307$1,464,144$11,773,816
30$21,993,581$8,095,813$1,537,351$12,360,417
Total$355,000,001$130,095,632$24,814,499$200,089,868

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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.