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Connecticut Powerball Jackpot Annuity Payout Schedule for Jun 6, 2012

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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 $179,700,000 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, Jun 6, 2012
Jackpot:$179,700,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,204,069$1,142,526$223,964$1,837,579
2$3,332,232$1,189,946$232,923$1,909,363
3$3,465,521$1,239,263$242,240$1,984,018
4$3,604,142$1,290,553$251,930$2,061,659
5$3,748,307$1,343,894$262,007$2,142,407
6$3,898,240$1,399,369$272,487$2,226,384
7$4,054,169$1,457,063$283,386$2,313,720
8$4,216,336$1,517,065$294,722$2,404,550
9$4,384,989$1,579,466$306,511$2,499,012
10$4,560,389$1,644,364$318,771$2,597,254
11$4,742,805$1,711,858$331,522$2,699,425
12$4,932,517$1,782,051$344,783$2,805,682
13$5,129,817$1,855,053$358,574$2,916,190
14$5,335,010$1,930,974$372,917$3,031,119
15$5,548,411$2,009,932$387,834$3,150,644
16$5,770,347$2,092,049$403,347$3,274,951
17$6,001,161$2,177,450$419,481$3,404,230
18$6,241,207$2,266,267$436,260$3,538,680
19$6,490,856$2,358,637$453,711$3,678,508
20$6,750,490$2,454,701$471,859$3,823,929
21$7,020,509$2,554,609$490,734$3,975,167
22$7,301,330$2,658,512$510,363$4,132,455
23$7,593,383$2,766,572$530,777$4,296,034
24$7,897,118$2,878,954$552,009$4,466,156
25$8,213,003$2,995,831$574,089$4,643,083
26$8,541,523$3,117,384$597,052$4,827,087
27$8,883,184$3,243,798$620,935$5,018,451
28$9,238,511$3,375,269$645,772$5,217,470
29$9,608,052$3,511,999$671,603$5,424,450
30$9,992,374$3,654,199$698,467$5,639,708
Total$179,700,000$65,199,608$12,561,030$101,939,365

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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.