USA Mega
Home of Mega Millions and Powerball, the USA's biggest multi-state lottery games.
Marketplace

Powerball Annuity Jackpot Analysis for Connecticut

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

The Powerball annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $158,000,000 would be for a resident of 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 final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Connecticut

Drawing Date:  Sat, Aug 8, 2020
Jackpot:$158,000,000
Federal Tax:  24%
State Tax:6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,378,127$570,750$166,231$1,641,145
2$2,497,033$599,288$174,543$1,723,203
3$2,621,885$629,252$183,270$1,809,363
4$2,752,979$660,715$192,433$1,899,831
5$2,890,628$693,751$202,055$1,994,822
6$3,035,159$728,438$212,158$2,094,563
7$3,186,917$764,860$222,766$2,199,292
8$3,346,263$803,103$233,904$2,309,256
9$3,513,576$843,258$245,599$2,424,719
10$3,689,255$885,421$257,879$2,545,955
11$3,873,718$929,692$270,773$2,673,253
12$4,067,404$976,177$284,312$2,806,915
13$4,270,774$1,024,986$298,527$2,947,261
14$4,484,313$1,076,235$313,453$3,094,624
15$4,708,528$1,130,047$329,126$3,249,355
16$4,943,955$1,186,549$345,582$3,411,823
17$5,191,152$1,245,877$362,862$3,582,414
18$5,450,710$1,308,170$381,005$3,761,535
19$5,723,246$1,373,579$400,055$3,949,612
20$6,009,408$1,442,258$420,058$4,147,092
21$6,309,878$1,514,371$441,060$4,354,447
22$6,625,372$1,590,089$463,114$4,572,169
23$6,956,641$1,669,594$486,269$4,800,778
24$7,304,473$1,753,073$510,583$5,040,817
25$7,669,696$1,840,727$536,112$5,292,857
26$8,053,181$1,932,764$562,917$5,557,500
27$8,455,840$2,029,402$591,063$5,835,375
28$8,878,632$2,130,872$620,616$6,127,144
29$9,322,564$2,237,415$651,647$6,433,501
30$9,788,692$2,349,286$684,230$6,755,176
Total$158,000,000$37,920,000$11,044,200$109,035,800
<( Back )Powerball Jackpot Analysis
(Current Drawing)
Top ^



Accuracy Statement  |  Advertise  |  Privacy Policy  |  Site Map  |  DMCA  |  Terms of Use
Copyright © 1999-2020 Speednet Group.  All rights reserved.