USA Mega

Connecticut Powerball Jackpot Annuity Payout Schedule for Jul 17, 2002

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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 $35,000,000 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, Jul 17, 2002
Jackpot:$35,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$624,053$189,088$43,621$391,345
2$649,016$198,324$45,366$405,326
3$674,976$207,929$47,181$419,866
4$701,975$217,919$49,068$434,989
5$730,054$228,308$51,031$450,716
6$759,256$239,113$53,072$467,072
7$789,627$250,350$55,195$484,082
8$821,212$262,036$57,403$501,773
9$854,060$274,190$59,699$520,171
10$888,223$286,830$62,087$539,306
11$923,752$299,976$64,570$559,206
12$960,702$313,647$67,153$579,901
13$999,130$327,866$69,839$601,425
14$1,039,095$342,653$72,633$623,809
15$1,080,659$358,031$75,538$647,089
16$1,123,885$374,025$78,560$671,300
17$1,168,840$390,659$81,702$696,480
18$1,215,594$407,958$84,970$722,666
19$1,264,218$425,948$88,369$749,901
20$1,314,787$444,659$91,904$778,224
21$1,367,378$464,118$95,580$807,681
22$1,422,073$484,355$99,403$838,315
23$1,478,956$505,401$103,379$870,176
24$1,538,114$527,290$107,514$903,310
25$1,599,639$550,054$111,815$937,770
26$1,663,624$573,729$116,287$973,608
27$1,730,169$598,350$120,939$1,010,880
28$1,799,376$623,957$125,776$1,049,643
29$1,871,351$650,588$130,807$1,089,956
30$1,946,205$678,284$136,040$1,131,882
Total$35,000,000$11,695,635$2,446,501$20,857,868

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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.