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Connecticut Powerball Jackpot Annuity Payout Schedule for Oct 16, 2021

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The tax information provided here is based on 2021 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 Powerball 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 $60,000,000 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 prize money, as well as deductions claimed.

State:

Connecticut

Drawing Date:Sat, Oct 16, 2021
Jackpot:$60,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$903,086$298,214$63,126$541,746
2$948,240$314,921$66,282$567,037
3$995,652$332,464$69,596$593,593
4$1,045,435$350,883$73,076$621,476
5$1,097,707$370,224$76,730$650,753
6$1,152,592$390,531$80,566$681,495
7$1,210,222$411,854$84,595$713,773
8$1,270,733$434,243$88,824$747,665
9$1,334,270$457,752$93,265$783,252
10$1,400,983$482,436$97,929$820,618
11$1,471,032$508,354$102,825$859,853
12$1,544,584$535,568$107,966$901,049
13$1,621,813$564,143$113,365$944,305
14$1,702,904$594,147$119,033$989,724
15$1,788,049$625,650$124,985$1,037,414
16$1,877,451$658,729$131,234$1,087,488
17$1,971,324$693,462$137,796$1,140,066
18$2,069,890$729,932$144,685$1,195,273
19$2,173,384$768,224$151,920$1,253,240
20$2,282,054$808,432$159,516$1,314,106
21$2,396,156$850,650$167,491$1,378,015
22$2,515,964$894,979$175,866$1,445,119
23$2,641,762$941,524$184,659$1,515,579
24$2,773,850$990,397$193,892$1,589,561
25$2,912,543$1,041,713$203,587$1,667,243
26$3,058,170$1,095,595$213,766$1,748,809
27$3,211,079$1,152,171$224,454$1,834,453
28$3,371,633$1,211,576$235,677$1,924,379
29$3,540,214$1,273,951$247,461$2,018,802
30$3,717,225$1,339,445$259,834$2,117,945
Total$60,000,000$21,122,164$4,194,001$34,683,831

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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.