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Connecticut Mega Millions Jackpot Annuity Payout Schedule for Jul 26, 2024

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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 $306,000,000 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, Jul 26, 2024
Jackpot:$306,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,605,739$1,662,311$321,941$2,621,487
2$4,836,026$1,747,517$338,038$2,750,470
3$5,077,827$1,836,984$354,940$2,885,903
4$5,331,719$1,930,924$372,687$3,028,108
5$5,598,305$2,029,560$391,321$3,177,423
6$5,878,220$2,133,129$410,888$3,334,203
7$6,172,131$2,241,876$431,432$3,498,823
8$6,480,738$2,356,061$453,004$3,671,673
9$6,804,774$2,475,954$475,654$3,853,166
10$7,145,013$2,601,843$499,436$4,043,734
11$7,502,264$2,734,025$524,408$4,243,830
12$7,877,377$2,872,817$550,629$4,453,931
13$8,271,246$3,018,549$578,160$4,674,537
14$8,684,808$3,171,567$607,068$4,906,173
15$9,119,048$3,332,236$637,421$5,149,391
16$9,575,001$3,500,938$669,293$5,404,770
17$10,053,751$3,678,076$702,757$5,672,918
18$10,556,438$3,864,070$737,895$5,954,473
19$11,084,260$4,059,364$774,790$6,250,106
20$11,638,473$4,264,423$813,529$6,560,521
21$12,220,397$4,479,735$854,206$6,886,457
22$12,831,417$4,705,812$896,916$7,228,689
23$13,472,988$4,943,193$941,762$7,588,033
24$14,146,637$5,192,443$988,850$7,965,344
25$14,853,969$5,454,156$1,038,292$8,361,520
26$15,596,668$5,728,955$1,090,207$8,777,506
27$16,376,501$6,017,493$1,144,717$9,214,290
28$17,195,326$6,320,458$1,201,953$9,672,914
29$18,055,092$6,638,572$1,262,051$10,154,469
30$18,957,847$6,972,591$1,325,153$10,660,102
Total$306,000,001$111,965,632$21,389,398$172,644,964

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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.