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Connecticut Powerball Jackpot Annuity Payout Schedule for Jun 20, 2015

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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 $80,000,000 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, Jun 20, 2015
Jackpot:$80,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,426,408$485,959$99,706$840,743
2$1,483,464$507,070$103,694$872,701
3$1,542,803$529,025$107,842$905,936
4$1,604,515$551,858$112,156$940,501
5$1,668,696$575,605$116,642$976,449
6$1,735,443$600,302$121,307$1,013,834
7$1,804,861$625,986$126,160$1,052,715
8$1,877,056$652,698$131,206$1,093,151
9$1,952,138$680,479$136,454$1,135,205
10$2,030,223$709,370$141,913$1,178,940
11$2,111,432$739,418$147,589$1,224,425
12$2,195,889$770,667$153,493$1,271,730
13$2,283,725$803,166$159,632$1,320,927
14$2,375,074$836,965$166,018$1,372,091
15$2,470,077$872,116$172,658$1,425,302
16$2,568,880$908,673$179,565$1,480,642
17$2,671,635$946,693$186,747$1,538,195
18$2,778,501$986,233$194,217$1,598,051
19$2,889,641$1,027,355$201,986$1,660,300
20$3,005,226$1,070,122$210,065$1,725,040
21$3,125,435$1,114,599$218,468$1,792,369
22$3,250,453$1,160,855$227,207$1,862,391
23$3,380,471$1,208,962$236,295$1,935,214
24$3,515,690$1,258,993$245,747$2,010,950
25$3,656,317$1,311,025$255,577$2,089,716
26$3,802,570$1,365,139$265,800$2,171,632
27$3,954,673$1,421,417$276,432$2,256,825
28$4,112,860$1,479,946$287,489$2,345,425
29$4,277,374$1,540,816$298,988$2,437,570
30$4,448,469$1,604,121$310,948$2,533,400
Total$80,000,000$28,345,633$5,592,001$46,062,370

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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.