USA Mega

Connecticut Powerball Jackpot Annuity Payout Schedule for Jan 7, 2012

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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 $43,500,000 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:Sat, Jan 7, 2012
Jackpot:$43,500,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$775,609$245,163$54,215$476,231
2$806,634$256,642$56,384$493,608
3$838,899$268,580$58,639$511,680
4$872,455$280,996$60,985$530,474
5$907,353$293,908$63,424$550,021
6$943,647$307,337$65,961$570,349
7$981,393$321,303$68,599$591,491
8$1,020,649$335,828$71,343$613,478
9$1,061,475$350,933$74,197$636,344
10$1,103,934$366,643$77,165$660,126
11$1,148,091$382,982$80,252$684,858
12$1,194,015$399,973$83,462$710,580
13$1,241,775$417,645$86,800$737,331
14$1,291,447$436,023$90,272$765,151
15$1,343,104$455,136$93,883$794,085
16$1,396,829$475,014$97,638$824,176
17$1,452,702$495,687$101,544$855,470
18$1,510,810$517,187$105,606$888,017
19$1,571,242$539,547$109,830$921,865
20$1,634,092$562,802$114,223$957,067
21$1,699,456$586,986$118,792$993,677
22$1,767,434$612,138$123,544$1,031,752
23$1,838,131$638,296$128,485$1,071,349
24$1,911,656$665,501$133,625$1,112,531
25$1,988,123$693,793$138,970$1,155,360
26$2,067,647$723,217$144,529$1,199,902
27$2,150,353$753,819$150,310$1,246,225
28$2,236,368$785,644$156,322$1,294,402
29$2,325,822$818,742$162,575$1,344,505
30$2,418,855$853,164$169,078$1,396,613
Total$43,500,000$14,840,629$3,040,652$25,618,718

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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.