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Connecticut Powerball Jackpot Annuity Payout Schedule for May 25, 2013

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The tax information provided here is based on 2022 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 $50,000,000 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, May 25, 2013
Jackpot:$50,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$891,505$292,812$62,316$536,377
2$927,165$306,006$64,809$556,350
3$964,252$319,728$67,401$577,122
4$1,002,822$333,999$70,097$598,726
5$1,042,935$348,841$72,901$621,193
6$1,084,652$364,276$75,817$644,559
7$1,128,038$380,329$78,850$668,859
8$1,173,160$397,024$82,004$694,132
9$1,220,086$414,387$85,284$720,415
10$1,268,890$432,444$88,695$747,750
11$1,319,645$451,224$92,243$776,178
12$1,372,431$470,754$95,933$805,744
13$1,427,328$491,066$99,770$836,492
14$1,484,421$512,191$103,761$868,469
15$1,543,798$534,160$107,911$901,726
16$1,605,550$557,009$112,228$936,314
17$1,669,772$580,771$116,717$972,284
18$1,736,563$605,483$121,386$1,009,694
19$1,806,025$631,184$126,241$1,048,600
20$1,878,266$657,914$131,291$1,089,062
21$1,953,397$685,712$136,542$1,131,143
22$2,031,533$714,622$142,004$1,174,907
23$2,112,794$744,689$147,684$1,220,421
24$2,197,306$775,958$153,592$1,267,756
25$2,285,198$808,478$159,735$1,316,985
26$2,376,606$842,299$166,125$1,368,182
27$2,471,671$877,473$172,770$1,421,428
28$2,570,537$914,054$179,681$1,476,803
29$2,673,359$952,098$186,868$1,534,393
30$2,780,293$991,663$194,342$1,594,287
Total$50,000,000$17,388,648$3,494,998$29,116,351

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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.