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 $125,000,000 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, May 30, 2020
Jackpot:$125,000,000
Federal Tax:  24%
State Tax:6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,881,429$451,543$131,512$1,298,374
2$1,975,501$474,120$138,088$1,363,293
3$2,074,276$497,826$144,992$1,431,458
4$2,177,990$522,718$152,241$1,503,031
5$2,286,889$548,853$159,854$1,578,182
6$2,401,234$576,296$167,846$1,657,091
7$2,521,295$605,111$176,239$1,739,946
8$2,647,360$635,366$185,050$1,826,943
9$2,779,728$667,135$194,303$1,918,290
10$2,918,715$700,491$204,018$2,014,205
11$3,064,650$735,516$214,219$2,114,915
12$3,217,883$772,292$224,930$2,220,661
13$3,378,777$810,906$236,177$2,331,694
14$3,547,716$851,452$247,985$2,448,279
15$3,725,102$894,024$260,385$2,570,693
16$3,911,357$938,726$273,404$2,699,227
17$4,106,924$985,662$287,074$2,834,189
18$4,312,271$1,034,945$301,428$2,975,898
19$4,527,884$1,086,692$316,499$3,124,693
20$4,754,278$1,141,027$332,324$3,280,928
21$4,991,992$1,198,078$348,940$3,444,974
22$5,241,592$1,257,982$366,387$3,617,223
23$5,503,672$1,320,881$384,707$3,798,084
24$5,778,855$1,386,925$403,942$3,987,988
25$6,067,798$1,456,271$424,139$4,187,387
26$6,371,188$1,529,085$445,346$4,396,757
27$6,689,747$1,605,539$467,613$4,616,594
28$7,024,234$1,685,816$490,994$4,847,424
29$7,375,446$1,770,107$515,544$5,089,795
30$7,744,219$1,858,612$541,321$5,344,285
Total$125,000,000$30,000,000$8,737,500$86,262,500
<( 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.