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Connecticut Powerball Jackpot Annuity Payout Schedule for Apr 23, 2008

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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 $126,400,000 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 23, 2008
Jackpot:$126,400,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,253,725$792,066$157,535$1,304,123
2$2,343,874$825,421$163,837$1,354,616
3$2,437,628$860,110$170,390$1,407,128
4$2,535,134$896,187$177,206$1,461,741
5$2,636,539$933,707$184,294$1,518,538
6$2,742,000$972,728$191,666$1,577,607
7$2,851,681$1,013,310$199,332$1,639,039
8$2,965,748$1,055,514$207,306$1,702,928
9$3,084,378$1,099,407$215,598$1,769,372
10$3,207,753$1,145,056$224,222$1,838,475
11$3,336,063$1,192,531$233,191$1,910,341
12$3,469,505$1,241,905$242,518$1,985,082
13$3,608,286$1,293,253$252,219$2,062,813
14$3,752,617$1,346,656$262,308$2,143,653
15$3,902,722$1,402,195$272,800$2,227,727
16$4,058,831$1,459,955$283,712$2,315,163
17$4,221,184$1,520,026$295,061$2,406,097
18$4,390,031$1,582,499$306,863$2,500,669
19$4,565,632$1,647,472$319,138$2,599,023
20$4,748,258$1,715,043$331,903$2,701,311
21$4,938,188$1,785,317$345,179$2,807,691
22$5,135,715$1,858,402$358,987$2,918,326
23$5,341,144$1,934,411$373,346$3,033,387
24$5,554,790$2,013,460$388,280$3,153,050
25$5,776,981$2,095,671$403,811$3,277,500
26$6,008,061$2,181,170$419,963$3,406,927
27$6,248,383$2,270,090$436,762$3,541,532
28$6,498,318$2,362,566$454,232$3,681,520
29$6,758,251$2,458,741$472,402$3,827,109
30$7,028,581$2,558,763$491,298$3,978,521
Total$126,400,000$45,513,632$8,835,359$72,051,009

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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.