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Connecticut Powerball Jackpot Annuity Payout Schedule for Aug 31, 2011

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The tax information provided here is based on 2025 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 $76,500,000 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, Aug 31, 2011
Jackpot:$76,500,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,364,003$461,701$95,344$806,958
2$1,418,563$481,888$99,158$837,517
3$1,475,305$502,883$103,124$869,298
4$1,534,317$524,718$107,249$902,351
5$1,595,690$547,426$111,539$936,726
6$1,659,518$571,042$116,000$972,476
7$1,725,898$595,603$120,640$1,009,655
8$1,794,934$621,146$125,466$1,048,322
9$1,866,732$647,711$130,485$1,088,536
10$1,941,401$675,339$135,704$1,130,358
11$2,019,057$704,071$141,132$1,173,854
12$2,099,819$733,953$146,777$1,219,089
13$2,183,812$765,031$152,648$1,266,133
14$2,271,165$797,351$158,754$1,315,059
15$2,362,011$830,964$165,105$1,365,942
16$2,456,492$865,922$171,709$1,418,861
17$2,554,751$902,278$178,577$1,473,896
18$2,656,941$940,089$185,720$1,531,133
19$2,763,219$979,411$193,149$1,590,659
20$2,873,748$1,020,307$200,875$1,652,566
21$2,988,698$1,062,838$208,910$1,716,949
22$3,108,246$1,107,071$217,266$1,783,908
23$3,232,575$1,153,073$225,957$1,853,545
24$3,361,878$1,200,915$234,995$1,925,968
25$3,496,354$1,250,671$244,395$2,001,287
26$3,636,208$1,302,417$254,171$2,079,620
27$3,781,656$1,356,233$264,338$2,161,085
28$3,932,922$1,412,201$274,911$2,245,809
29$4,090,239$1,470,409$285,908$2,333,923
30$4,253,849$1,530,944$297,344$2,425,560
Total$76,500,000$27,015,606$5,347,350$44,137,043

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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.