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Connecticut Mega Millions Jackpot Annuity Payout Schedule for Jun 23, 2023

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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 $320,000,000 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, Jun 23, 2023
Jackpot:$320,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,816,459$1,740,278$336,670$2,739,511
2$5,057,282$1,829,382$353,504$2,874,396
3$5,310,146$1,922,942$371,179$3,016,025
4$5,575,654$2,021,180$389,738$3,164,736
5$5,854,436$2,124,329$409,225$3,320,882
6$6,147,158$2,232,636$429,686$3,484,835
7$6,454,516$2,346,359$451,171$3,656,987
8$6,777,242$2,465,767$473,729$3,837,745
9$7,116,104$2,591,146$497,416$4,027,542
10$7,471,909$2,722,794$522,286$4,226,829
11$7,845,505$2,861,024$548,401$4,436,079
12$8,237,780$3,006,166$575,821$4,655,793
13$8,649,669$3,158,565$604,612$4,886,492
14$9,082,152$3,318,584$634,842$5,128,726
15$9,536,260$3,486,604$666,585$5,383,071
16$10,013,073$3,663,025$699,914$5,650,134
17$10,513,726$3,848,267$734,909$5,930,550
18$11,039,413$4,042,770$771,655$6,224,987
19$11,591,383$4,247,000$810,238$6,534,146
20$12,170,953$4,461,440$850,750$6,858,763
21$12,779,500$4,686,603$893,287$7,199,610
22$13,418,475$4,923,024$937,951$7,557,500
23$14,089,399$5,171,265$984,849$7,933,285
24$14,793,869$5,431,919$1,034,091$8,327,858
25$15,533,562$5,705,606$1,085,796$8,742,160
26$16,310,241$5,992,977$1,140,086$9,177,178
27$17,125,753$6,294,716$1,197,090$9,633,946
28$17,982,040$6,611,543$1,256,945$10,113,553
29$18,881,142$6,944,210$1,319,792$10,617,140
30$19,825,199$7,293,512$1,385,781$11,145,906
Total$320,000,001$117,145,633$22,367,999$180,486,365

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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.