USA Mega

Connecticut Powerball Jackpot Annuity Payout Schedule for Apr 30, 1997

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The tax information provided here is based on 2024 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 $26,000,000 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 money, as well as deductions claimed.

State:

Connecticut

Drawing Date:Wed, Apr 30, 1997
Jackpot:$26,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$463,583$132,629$32,404$298,550
2$482,126$139,119$33,701$309,306
3$501,411$145,869$35,049$320,494
4$521,467$152,888$36,451$332,128
5$542,326$160,189$37,909$344,229
6$564,019$167,781$39,425$356,813
7$586,580$175,678$41,002$369,900
8$610,043$183,904$42,642$383,497
9$634,445$192,932$44,348$397,165
10$659,823$202,322$46,122$411,379
11$686,215$212,087$47,966$426,162
12$713,664$222,243$49,885$441,536
13$742,211$232,806$51,881$457,524
14$771,899$243,790$53,956$474,153
15$802,775$255,215$56,114$491,447
16$834,886$267,096$58,359$509,432
17$868,281$279,452$60,693$528,137
18$903,013$292,302$63,121$547,590
19$939,133$305,667$65,645$567,821
20$976,699$319,566$68,271$588,861
21$1,015,767$334,021$71,002$610,743
22$1,056,397$349,055$73,842$633,500
23$1,098,653$364,689$76,796$657,168
24$1,142,599$380,949$79,868$681,782
25$1,188,303$397,860$83,062$707,381
26$1,235,835$415,447$86,385$734,004
27$1,285,269$433,737$89,840$761,691
28$1,336,679$452,759$93,434$790,486
29$1,390,147$472,542$97,171$820,433
30$1,445,752$493,116$101,058$851,578
Total$26,000,000$8,377,710$1,817,402$15,804,890

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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.