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Connecticut Mega Millions Jackpot Annuity Payout Schedule for Jan 31, 2023

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The tax information provided here is based on 2025 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 $31,000,000 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:Tue, Jan 31, 2023
Jackpot:$31,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$466,594$132,855$32,615$301,124
2$489,924$141,021$34,246$314,658
3$514,420$149,594$35,958$328,868
4$540,141$158,597$37,756$343,789
5$567,149$168,049$39,644$359,456
6$595,506$177,974$41,626$375,906
7$625,281$188,396$43,707$393,178
8$656,545$199,942$45,893$410,711
9$689,373$212,088$48,187$429,097
10$723,841$224,841$50,596$448,403
11$760,033$238,233$53,126$468,674
12$798,035$252,293$55,783$489,959
13$837,937$267,057$58,572$512,308
14$879,834$282,559$61,500$535,774
15$923,825$298,836$64,575$560,414
16$970,016$315,926$67,804$586,286
17$1,018,517$333,872$71,194$613,451
18$1,069,443$352,714$74,754$641,975
19$1,122,915$372,499$78,492$671,925
20$1,179,061$393,273$82,416$703,372
21$1,238,014$415,085$86,537$736,391
22$1,299,915$437,989$90,864$771,062
23$1,364,911$462,037$95,407$807,466
24$1,433,156$487,288$100,178$845,690
25$1,504,814$513,801$105,186$885,826
26$1,580,055$541,640$110,446$927,968
27$1,659,057$570,871$115,968$972,218
28$1,742,010$601,564$121,767$1,018,680
29$1,829,111$633,791$127,855$1,067,465
30$1,920,566$667,630$134,248$1,118,689
Total$31,000,000$10,192,315$2,166,900$18,640,783

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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.