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Connecticut Powerball Jackpot Annuity Payout Schedule for Sep 4, 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 $70,100,000 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, Sep 4, 2002
Jackpot:$70,100,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,249,890$420,647$87,367$741,876
2$1,299,886$439,145$90,862$769,878
3$1,351,881$458,384$94,496$799,001
4$1,405,956$478,392$98,276$829,288
5$1,462,194$499,200$102,207$860,787
6$1,520,682$520,840$106,296$893,546
7$1,581,510$543,346$110,548$927,616
8$1,644,770$566,753$114,969$963,048
9$1,710,561$591,095$119,568$999,897
10$1,778,983$616,412$124,351$1,038,221
11$1,850,142$642,740$129,325$1,078,077
12$1,924,148$670,123$134,498$1,119,528
13$2,001,114$698,600$139,878$1,162,636
14$2,081,159$728,216$145,473$1,207,469
15$2,164,405$759,018$151,292$1,254,095
16$2,250,981$791,051$157,344$1,302,587
17$2,341,020$824,365$163,637$1,353,018
18$2,434,661$859,012$170,183$1,405,466
19$2,532,048$895,045$176,990$1,460,012
20$2,633,330$932,520$184,070$1,516,740
21$2,738,663$971,493$191,433$1,575,737
22$2,848,209$1,012,025$199,090$1,637,094
23$2,962,138$1,054,179$207,053$1,700,906
24$3,080,623$1,098,018$215,336$1,767,269
25$3,203,848$1,143,612$223,949$1,836,288
26$3,332,002$1,191,029$232,907$1,908,067
27$3,465,282$1,240,342$242,223$1,982,717
28$3,603,893$1,291,628$251,912$2,060,353
29$3,748,049$1,344,966$261,989$2,141,095
30$3,897,971$1,400,437$272,468$2,225,066
Total$70,100,000$24,682,633$4,899,990$40,517,378

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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.