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Connecticut Mega Millions Jackpot Annuity Payout Schedule for Jul 25, 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 $820,000,000 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, Jul 25, 2023
Jackpot:$820,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$12,342,177$4,524,793$862,718$6,954,665
2$12,959,286$4,753,123$905,854$7,300,308
3$13,607,250$4,992,870$951,147$7,663,233
4$14,287,613$5,244,604$998,704$8,044,304
5$15,001,993$5,508,925$1,048,639$8,444,428
6$15,752,093$5,786,462$1,101,071$8,864,559
7$16,539,698$6,077,876$1,156,125$9,305,697
8$17,366,682$6,383,860$1,213,931$9,768,891
9$18,235,017$6,705,144$1,274,628$10,255,245
10$19,146,767$7,042,492$1,338,359$10,765,917
11$20,104,106$7,396,707$1,405,277$11,302,122
12$21,109,311$7,768,633$1,475,541$11,865,137
13$22,164,776$8,159,155$1,549,318$12,456,303
14$23,273,015$8,569,203$1,626,784$13,077,028
15$24,436,666$8,999,754$1,708,123$13,728,789
16$25,658,499$9,451,833$1,793,529$14,413,138
17$26,941,424$9,926,515$1,883,206$15,131,704
18$28,288,495$10,424,931$1,977,366$15,886,198
19$29,702,920$10,948,268$2,076,234$16,678,418
20$31,188,066$11,497,772$2,180,046$17,510,248
21$32,747,469$12,074,751$2,289,048$18,383,670
22$34,384,843$12,680,580$2,403,501$19,300,763
23$36,104,085$13,316,699$2,523,676$20,263,710
24$37,909,289$13,984,625$2,649,859$21,274,805
25$39,804,753$14,685,946$2,782,352$22,336,455
26$41,794,992$15,422,335$2,921,470$23,451,187
27$43,884,741$16,195,542$3,067,543$24,621,656
28$46,078,978$17,007,409$3,220,921$25,850,648
29$48,382,927$17,859,871$3,381,967$27,141,089
30$50,802,073$18,754,955$3,551,065$28,496,054
Total$820,000,002$302,145,633$57,318,002$460,536,369

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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.