USA Mega

Connecticut Powerball Jackpot Annuity Payout Schedule for Jan 30, 2023

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The tax information provided here is based on 2022 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 $613,000,000 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:Mon, Jan 30, 2023
Jackpot:$613,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,226,530$3,376,771$644,934$5,204,824
2$9,687,856$3,547,462$677,181$5,463,213
3$10,172,249$3,726,687$711,040$5,734,522
4$10,680,862$3,914,874$746,592$6,019,396
5$11,214,904$4,112,470$783,922$6,318,513
6$11,775,650$4,319,945$823,118$6,632,586
7$12,364,433$4,537,795$864,274$6,962,364
8$12,982,654$4,766,537$907,488$7,308,630
9$13,631,787$5,006,716$952,862$7,672,209
10$14,313,376$5,258,904$1,000,505$8,053,967
11$15,029,045$5,523,702$1,050,530$8,454,813
12$15,780,497$5,801,739$1,103,057$8,875,701
13$16,569,522$6,093,678$1,158,210$9,317,634
14$17,397,998$6,400,214$1,216,120$9,781,664
15$18,267,898$6,722,077$1,276,926$10,268,895
16$19,181,293$7,060,033$1,340,772$10,780,487
17$20,140,357$7,414,887$1,407,811$11,317,659
18$21,147,375$7,787,484$1,478,202$11,881,690
19$22,204,744$8,178,710$1,552,112$12,473,922
20$23,314,981$8,589,498$1,629,717$13,095,766
21$24,480,730$9,020,825$1,711,203$13,748,702
22$25,704,767$9,473,719$1,796,763$14,434,285
23$26,990,005$9,949,257$1,886,601$15,154,147
24$28,339,505$10,448,572$1,980,931$15,910,002
25$29,756,480$10,972,853$2,079,978$16,703,650
26$31,244,305$11,523,348$2,183,977$17,536,980
27$32,806,520$12,101,367$2,293,176$18,411,977
28$34,446,845$12,708,288$2,407,834$19,330,723
29$36,169,188$13,345,554$2,528,226$20,295,407
30$37,977,648$14,014,685$2,654,638$21,308,325
Total$613,000,001$225,698,651$42,848,700$344,452,653

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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.