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Connecticut Mega Millions Jackpot Annuity Payout Schedule for Aug 29, 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 $67,000,000 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 29, 2023
Jackpot:$67,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,008,446$331,313$70,490$606,643
2$1,058,868$349,969$74,015$634,884
3$1,111,812$369,558$77,716$664,538
4$1,167,403$390,127$81,601$695,674
5$1,225,773$411,724$85,682$728,367
6$1,287,061$434,400$89,966$762,695
7$1,351,414$458,211$94,464$798,739
8$1,418,985$483,212$99,187$836,586
9$1,489,934$509,463$104,146$876,324
10$1,564,431$537,027$109,354$918,050
11$1,642,653$565,969$114,821$961,862
12$1,724,785$596,358$120,562$1,007,864
13$1,811,024$628,267$126,591$1,056,167
14$1,901,576$661,771$132,920$1,106,885
15$1,996,654$696,950$139,566$1,160,138
16$2,096,487$733,888$146,544$1,216,055
17$2,201,311$772,673$153,872$1,274,767
18$2,311,377$813,397$161,565$1,336,415
19$2,426,946$856,158$169,644$1,401,145
20$2,548,293$901,056$178,126$1,469,111
21$2,675,708$948,200$187,032$1,540,476
22$2,809,493$997,700$196,384$1,615,409
23$2,949,968$1,049,676$206,203$1,694,089
24$3,097,466$1,104,250$216,513$1,776,703
25$3,252,340$1,161,553$227,339$1,863,448
26$3,414,957$1,221,722$238,705$1,954,529
27$3,585,704$1,284,898$250,641$2,050,165
28$3,764,990$1,351,234$263,173$2,150,583
29$3,953,239$1,420,886$276,331$2,256,021
30$4,150,901$1,494,021$290,148$2,366,732
Total$67,000,000$23,535,631$4,683,301$38,781,064

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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.