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Connecticut Mega Millions Jackpot Annuity Payout Schedule for Sep 15, 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 $162,000,000 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:Fri, Sep 15, 2023
Jackpot:$162,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,438,332$860,371$170,439$1,407,522
2$2,560,249$905,480$178,961$1,475,808
3$2,688,262$952,845$187,909$1,547,508
4$2,822,675$1,002,577$197,305$1,622,792
5$2,963,808$1,054,797$207,170$1,701,841
6$3,111,999$1,109,627$217,529$1,784,843
7$3,267,599$1,167,199$228,405$1,871,994
8$3,430,979$1,227,650$239,825$1,963,503
9$3,602,528$1,291,123$251,817$2,059,588
10$3,782,654$1,357,770$264,408$2,160,477
11$3,971,787$1,427,749$277,628$2,266,410
12$4,170,376$1,501,227$291,509$2,377,640
13$4,378,895$1,578,379$306,085$2,494,431
14$4,597,840$1,659,388$321,389$2,617,062
15$4,827,732$1,744,448$337,458$2,745,825
16$5,069,118$1,833,761$354,331$2,881,025
17$5,322,574$1,927,540$372,048$3,022,986
18$5,588,703$2,026,008$390,650$3,172,045
19$5,868,138$2,129,399$410,183$3,328,556
20$6,161,545$2,237,959$430,692$3,492,893
21$6,469,622$2,351,948$452,227$3,665,448
22$6,793,103$2,471,636$474,838$3,846,629
23$7,132,758$2,597,308$498,580$4,036,870
24$7,489,396$2,729,264$523,509$4,236,623
25$7,863,866$2,867,818$549,684$4,446,364
26$8,257,059$3,013,300$577,168$4,666,591
27$8,669,912$3,166,055$606,027$4,897,830
28$9,103,408$3,326,449$636,328$5,140,631
29$9,558,578$3,494,862$668,145$5,395,572
30$10,036,507$3,671,695$701,552$5,663,260
Total$162,000,000$58,685,632$11,323,799$91,990,567

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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.