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 $40,000,000 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, Mar 28, 2015
Jackpot:$40,000,000
Federal Tax:  25%
State Tax:6.70%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$713,204$178,301$47,785$487,118
2$741,732$185,433$49,696$506,603
3$771,401$192,850$51,684$526,867
4$802,257$200,564$53,751$547,942
5$834,348$208,587$55,901$569,860
6$867,722$216,930$58,137$592,654
7$902,431$225,608$60,463$616,360
8$938,528$234,632$62,881$641,014
9$976,069$244,017$65,397$666,655
10$1,015,112$253,778$68,012$693,321
11$1,055,716$263,929$70,733$721,054
12$1,097,945$274,486$73,562$749,896
13$1,141,863$285,466$76,505$779,892
14$1,187,537$296,884$79,565$811,088
15$1,235,039$308,760$82,748$843,531
16$1,284,440$321,110$86,057$877,273
17$1,335,818$333,954$89,500$912,363
18$1,389,250$347,313$93,080$948,858
19$1,444,820$361,205$96,803$986,812
20$1,502,613$375,653$100,675$1,026,285
21$1,562,718$390,679$104,702$1,067,336
22$1,625,226$406,307$108,890$1,110,030
23$1,690,235$422,559$113,246$1,154,431
24$1,757,845$439,461$117,776$1,200,608
25$1,828,159$457,040$122,487$1,248,632
26$1,901,285$475,321$127,386$1,298,578
27$1,977,336$494,334$132,482$1,350,521
28$2,056,430$514,107$137,781$1,404,542
29$2,138,687$534,672$143,292$1,460,723
30$2,224,235$556,059$149,024$1,519,152
Total$40,000,000$10,000,000$2,680,000$27,320,000
<( Back )Powerball Jackpot Analysis
(Current Drawing)
Top ^

The best selection at discount prices BOOKS & DVDs
Huge discounts!



Accuracy Statement  |  Advertise  |  Privacy Policy  |  Site Map  |  Terms of Use
Copyright © 1999-2015 Speednet Group.  All rights reserved.