USA Mega

Connecticut Powerball Jackpot Annuity Payout Schedule for Oct 27, 2004

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The tax information provided here is based on 2025 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 $20,300,000 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, Oct 27, 2004
Jackpot:$20,300,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$361,951$96,230$25,300$240,421
2$376,429$101,297$26,312$248,819
3$391,486$106,567$27,365$257,554
4$407,146$112,048$28,459$266,638
5$423,431$117,748$29,598$276,085
6$440,369$123,676$30,782$285,911
7$457,983$129,841$32,013$296,129
8$476,303$136,253$33,294$306,756
9$495,355$142,921$34,625$317,808
10$515,169$149,856$36,010$329,302
11$535,776$157,069$37,451$341,256
12$557,207$164,570$38,949$353,689
13$579,495$172,371$40,507$366,618
14$602,675$180,484$42,127$380,065
15$626,782$188,930$43,812$394,040
16$651,853$198,206$45,565$408,083
17$677,927$207,853$47,387$422,687
18$705,045$217,887$49,283$437,875
19$733,246$228,321$51,254$453,671
20$762,576$239,173$53,304$470,099
21$793,079$250,460$55,436$487,183
22$824,802$262,197$57,654$504,952
23$857,795$274,404$59,960$523,430
24$892,106$287,100$62,358$542,648
25$927,791$300,303$64,853$562,635
26$964,902$314,034$67,447$583,421
27$1,003,498$328,315$70,145$605,039
28$1,043,638$343,166$72,950$627,521
29$1,085,384$358,612$75,868$650,903
30$1,128,799$374,676$78,903$675,220
Total$20,300,000$6,264,568$1,418,971$12,616,458

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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.