USA Mega

Connecticut Mega Millions Jackpot Annuity Payout Schedule for Aug 22, 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 $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$143,391$34,719$318,587
2$521,532$152,084$36,455$332,994
3$547,609$161,210$38,278$348,121
4$574,989$170,794$40,192$364,004
5$603,739$180,856$42,201$380,682
6$633,926$191,573$44,311$398,042
7$665,622$203,300$46,527$415,795
8$698,903$215,614$48,853$434,435
9$733,848$228,544$51,296$454,008
10$770,541$242,120$53,861$474,560
11$809,068$256,375$56,554$496,139
12$849,521$271,343$59,382$518,796
13$891,997$287,059$62,351$542,587
14$936,597$303,561$65,468$567,568
15$983,427$320,888$68,742$593,797
16$1,032,598$339,082$72,179$621,338
17$1,084,228$358,185$75,788$650,256
18$1,138,439$378,243$79,577$680,620
19$1,195,361$399,304$83,556$712,502
20$1,255,129$421,418$87,734$745,978
21$1,317,886$444,638$92,120$781,128
22$1,383,780$469,019$96,726$818,035
23$1,452,969$494,619$101,563$856,788
24$1,525,618$521,499$106,641$897,478
25$1,601,899$549,723$111,973$940,203
26$1,681,994$579,358$117,571$985,064
27$1,766,093$610,475$123,450$1,032,169
28$1,854,398$643,147$129,622$1,081,628
29$1,947,118$677,454$136,104$1,133,560
30$2,044,474$713,476$142,909$1,188,089
Total$33,000,000$10,928,352$2,306,703$19,764,951

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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.