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Connecticut Powerball Jackpot Annuity Payout Schedule for Dec 7, 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 $53,200,000 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, Dec 7, 2011
Jackpot:$53,200,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$948,561$309,155$66,304$573,101
2$986,504$323,194$68,957$594,353
3$1,025,964$337,794$71,715$616,455
4$1,067,002$352,979$74,583$639,440
5$1,109,683$368,770$77,567$663,345
6$1,154,070$385,194$80,669$688,207
7$1,200,233$402,274$83,896$714,063
8$1,248,242$420,037$87,252$740,953
9$1,298,172$438,511$90,742$768,918
10$1,350,098$457,724$94,372$798,002
11$1,404,102$477,706$98,147$828,250
12$1,460,267$498,486$102,073$859,708
13$1,518,677$520,098$106,156$892,423
14$1,579,424$542,575$110,402$926,448
15$1,642,601$565,950$114,818$961,833
16$1,708,305$590,261$119,411$998,634
17$1,776,637$615,544$124,187$1,036,907
18$1,847,703$641,838$129,154$1,076,711
19$1,921,611$669,184$134,321$1,118,107
20$1,998,476$697,624$139,693$1,161,158
21$2,078,415$727,201$145,281$1,205,932
22$2,161,551$757,962$151,092$1,252,497
23$2,248,013$789,953$157,136$1,300,924
24$2,337,934$823,223$163,422$1,351,289
25$2,431,451$857,825$169,958$1,403,668
26$2,528,709$893,810$176,757$1,458,142
27$2,629,857$931,235$183,827$1,514,795
28$2,735,052$970,157$191,180$1,573,715
29$2,844,454$1,010,636$198,827$1,634,991
30$2,958,232$1,052,734$206,780$1,698,718
Total$53,200,000$18,429,634$3,718,679$31,051,687

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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.