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Connecticut Powerball Jackpot Annuity Payout Schedule for May 11, 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 $65,200,000 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, May 11, 2011
Jackpot:$65,200,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,162,522$388,321$81,260$692,941
2$1,209,023$405,526$84,511$718,986
3$1,257,384$423,420$87,891$746,073
4$1,307,680$442,029$91,407$774,244
5$1,359,987$461,383$95,063$803,541
6$1,414,386$481,511$98,866$834,010
7$1,470,962$502,444$102,820$865,698
8$1,529,800$524,214$106,933$898,653
9$1,590,992$546,855$111,210$932,927
10$1,654,632$570,402$115,659$968,572
11$1,720,817$594,890$120,285$1,005,642
12$1,789,650$620,358$125,097$1,044,195
13$1,861,236$646,845$130,100$1,084,290
14$1,935,685$674,391$135,304$1,125,990
15$2,013,113$703,039$140,717$1,169,357
16$2,093,637$732,834$146,345$1,214,458
17$2,177,383$763,819$152,199$1,261,364
18$2,264,478$796,045$158,287$1,310,146
19$2,355,057$829,559$164,618$1,360,880
20$2,449,259$864,414$171,203$1,413,642
21$2,547,230$900,663$178,051$1,468,516
22$2,649,119$938,362$185,173$1,525,584
23$2,755,084$977,569$192,580$1,584,935
24$2,865,287$1,018,344$200,284$1,646,660
25$2,979,899$1,060,750$208,295$1,710,853
26$3,099,095$1,104,853$216,627$1,777,615
27$3,223,058$1,150,719$225,292$1,847,047
28$3,351,981$1,198,421$234,303$1,919,257
29$3,486,060$1,248,030$243,676$1,994,354
30$3,625,502$1,299,624$253,423$2,072,456
Total$65,200,000$22,869,634$4,557,479$37,772,886

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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.