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Connecticut Mega Millions Jackpot Annuity Payout Schedule for Jun 27, 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 $343,000,000 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, Jun 27, 2023
Jackpot:$343,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,162,642$1,868,365$360,869$2,933,408
2$5,420,774$1,963,874$378,912$3,077,988
3$5,691,813$2,064,159$397,858$3,229,797
4$5,976,404$2,169,457$417,751$3,389,196
5$6,275,224$2,280,021$438,638$3,556,565
6$6,588,985$2,396,112$460,570$3,732,303
7$6,918,435$2,518,009$483,599$3,916,827
8$7,264,356$2,646,000$507,778$4,110,578
9$7,627,574$2,780,390$533,167$4,314,016
10$8,008,953$2,921,500$559,826$4,527,627
11$8,409,400$3,069,666$587,817$4,751,917
12$8,829,870$3,225,240$617,208$4,987,423
13$9,271,364$3,388,592$648,068$5,234,703
14$9,734,932$3,560,113$680,472$5,494,348
15$10,221,679$3,740,209$714,495$5,766,974
16$10,732,763$3,929,310$750,220$6,053,233
17$11,269,400$4,127,866$787,731$6,353,803
18$11,832,871$4,336,350$827,118$6,669,403
19$12,424,514$4,555,258$868,474$7,000,783
20$13,045,740$4,785,111$911,897$7,348,731
21$13,698,027$5,026,458$957,492$7,714,077
22$14,382,928$5,279,871$1,005,367$8,097,690
23$15,102,075$5,545,955$1,055,635$8,500,484
24$15,857,178$5,825,344$1,108,417$8,923,418
25$16,650,037$6,118,701$1,163,838$9,367,498
26$17,482,539$6,426,727$1,222,029$9,833,782
27$18,356,666$6,750,154$1,283,131$10,323,381
28$19,274,499$7,089,752$1,347,287$10,837,459
29$20,238,224$7,446,331$1,414,652$11,377,242
30$21,250,136$7,820,738$1,485,384$11,944,013
Total$343,000,001$125,655,633$23,975,700$193,368,667

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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.