USA Mega

Connecticut Powerball Jackpot Annuity Payout Schedule for Aug 28, 2002

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $55,300,000 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, Aug 28, 2002
Jackpot:$55,300,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$986,004$323,009$68,922$594,073
2$1,025,445$337,602$71,679$616,164
3$1,066,462$352,779$74,546$639,138
4$1,109,121$368,562$77,528$663,031
5$1,153,486$384,977$80,629$687,880
6$1,199,625$402,049$83,854$713,722
7$1,247,610$419,804$87,208$740,599
8$1,297,515$438,268$90,696$768,550
9$1,349,415$457,471$94,324$797,620
10$1,403,392$477,443$98,097$827,852
11$1,459,527$498,213$102,021$859,294
12$1,517,909$519,814$106,102$891,993
13$1,578,625$542,279$110,346$926,000
14$1,641,770$565,643$114,760$961,368
15$1,707,441$589,941$119,350$998,150
16$1,775,738$615,211$124,124$1,036,403
17$1,846,768$641,492$129,089$1,076,187
18$1,920,639$668,824$134,253$1,117,562
19$1,997,464$697,249$139,623$1,160,592
20$2,077,363$726,812$145,208$1,205,343
21$2,160,457$757,557$151,016$1,251,884
22$2,246,876$789,532$157,057$1,300,287
23$2,336,751$822,785$163,339$1,350,626
24$2,430,221$857,369$169,872$1,402,979
25$2,527,429$893,337$176,667$1,457,425
26$2,628,527$930,743$183,734$1,514,050
27$2,733,668$969,645$191,083$1,572,939
28$2,843,014$1,010,103$198,727$1,634,185
29$2,956,735$1,052,180$206,676$1,697,879
30$3,075,004$1,095,939$214,943$1,764,122
Total$55,300,000$19,206,632$3,865,473$32,227,897

◄ Back to Jackpot Analysis

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.