USA Mega

Connecticut Mega Millions Jackpot Annuity Payout Schedule for Aug 22, 2023

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $33,000,000 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, Aug 22, 2023
Jackpot:$33,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$496,697$144,219$34,719$317,759
2$521,532$152,911$36,455$332,166
3$547,609$162,038$38,278$347,293
4$574,989$171,621$40,192$363,177
5$603,739$181,683$42,201$379,854
6$633,926$192,740$44,311$396,874
7$665,622$204,468$46,527$414,627
8$698,903$216,782$48,853$433,268
9$733,848$229,712$51,296$452,841
10$770,541$243,288$53,861$473,392
11$809,068$257,543$56,554$494,971
12$849,521$272,511$59,382$517,629
13$891,997$288,227$62,351$541,420
14$936,597$304,729$65,468$566,400
15$983,427$322,056$68,742$592,630
16$1,032,598$340,249$72,179$620,170
17$1,084,228$359,352$75,788$649,088
18$1,138,439$379,410$79,577$679,452
19$1,195,361$400,471$83,556$711,334
20$1,255,129$422,586$87,734$744,810
21$1,317,886$445,806$92,120$779,960
22$1,383,780$470,186$96,726$816,868
23$1,452,969$495,786$101,563$855,620
24$1,525,618$522,666$106,641$896,311
25$1,601,899$550,890$111,973$939,036
26$1,681,994$580,525$117,571$983,897
27$1,766,093$611,642$123,450$1,031,001
28$1,854,398$644,315$129,622$1,080,460
29$1,947,118$678,621$136,104$1,132,393
30$2,044,474$714,643$142,909$1,186,922
Total$33,000,000$10,961,676$2,306,703$19,731,623

◄ Back to Jackpot Analysis

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.