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Connecticut Powerball Jackpot Annuity Payout Schedule for Nov 2, 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 $254,200,000 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, Nov 2, 2011
Jackpot:$254,200,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,532,411$1,635,180$316,816$2,580,416
2$4,713,708$1,702,260$329,488$2,681,960
3$4,902,256$1,772,022$342,668$2,787,566
4$5,098,346$1,844,576$356,374$2,897,396
5$5,302,280$1,920,031$370,629$3,011,619
6$5,514,371$1,998,505$385,455$3,130,412
7$5,734,946$2,080,118$400,873$3,253,956
8$5,964,344$2,164,995$416,908$3,382,441
9$6,202,918$2,253,267$433,584$3,516,066
10$6,451,034$2,345,070$450,927$3,655,037
11$6,709,076$2,440,546$468,964$3,799,566
12$6,977,439$2,539,840$487,723$3,949,876
13$7,256,536$2,643,106$507,232$4,106,198
14$7,546,798$2,750,503$527,521$4,268,774
15$7,848,670$2,862,196$548,622$4,437,852
16$8,162,617$2,978,356$570,567$4,613,694
17$8,489,121$3,099,163$593,390$4,796,569
18$8,828,686$3,224,802$617,125$4,986,759
19$9,181,833$3,355,466$641,810$5,184,557
20$9,549,107$3,491,357$667,483$5,390,267
21$9,931,071$3,632,684$694,182$5,604,205
22$10,328,314$3,779,664$721,949$5,826,701
23$10,741,446$3,932,523$750,827$6,058,096
24$11,171,104$4,091,496$780,860$6,298,748
25$11,617,949$4,256,829$812,095$6,549,025
26$12,082,666$4,428,774$844,578$6,809,314
27$12,565,973$4,607,598$878,362$7,080,014
28$13,068,612$4,793,574$913,496$7,361,542
29$13,591,357$4,986,990$950,036$7,654,331
30$14,135,011$5,188,142$988,037$7,958,832
Total$254,200,000$92,799,633$17,768,581$143,631,789

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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.