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Connecticut Powerball Jackpot Annuity Payout Schedule for Oct 5, 2011

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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 $60,200,000 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 5, 2011
Jackpot:$60,200,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,073,372$355,335$75,029$643,008
2$1,116,307$371,221$78,030$667,056
3$1,160,959$387,743$81,151$692,065
4$1,207,397$404,925$84,397$718,076
5$1,255,693$422,794$87,773$745,126
6$1,305,921$441,379$91,284$773,259
7$1,358,158$460,706$94,935$802,517
8$1,412,484$480,807$98,733$832,945
9$1,468,984$501,712$102,682$864,590
10$1,527,743$523,453$106,789$897,501
11$1,588,853$546,063$111,061$931,729
12$1,652,407$569,578$115,503$967,325
13$1,718,503$594,034$120,123$1,004,346
14$1,787,243$619,468$124,928$1,042,847
15$1,858,733$645,919$129,925$1,082,889
16$1,933,082$673,428$135,122$1,124,532
17$2,010,406$702,038$140,527$1,167,840
18$2,090,822$731,792$146,148$1,212,882
19$2,174,455$762,736$151,994$1,259,724
20$2,261,433$794,918$158,074$1,308,441
21$2,351,890$828,387$164,397$1,359,106
22$2,445,966$863,195$170,973$1,411,798
23$2,543,804$899,395$177,812$1,466,597
24$2,645,557$937,044$184,924$1,523,588
25$2,751,379$976,198$192,321$1,582,860
26$2,861,434$1,016,918$200,014$1,644,501
27$2,975,891$1,059,268$208,015$1,708,609
28$3,094,927$1,103,311$216,335$1,775,281
29$3,218,724$1,149,116$224,989$1,844,620
30$3,347,473$1,196,753$233,988$1,916,732
Total$60,200,000$21,019,634$4,207,976$34,972,390

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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.