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Connecticut Powerball Jackpot Annuity Payout Schedule for Jul 11, 2020

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The tax information provided here is based on 2021 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 $78,300,000 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 prize money, as well as deductions claimed.

State:

Connecticut

Drawing Date:Sat, Jul 11, 2020
Jackpot:$78,300,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,178,527$400,127$82,379$696,021
2$1,237,454$421,930$86,498$729,026
3$1,299,326$444,823$90,823$763,680
4$1,364,293$468,861$95,364$800,068
5$1,432,507$494,100$100,132$838,275
6$1,504,133$520,601$105,139$878,392
7$1,579,339$548,428$110,396$920,516
8$1,658,306$577,646$115,916$964,745
9$1,741,222$608,324$121,711$1,011,186
10$1,828,283$640,537$127,797$1,059,949
11$1,919,697$674,360$134,187$1,111,150
12$2,015,682$709,874$140,896$1,164,911
13$2,116,466$747,165$147,941$1,221,360
14$2,222,289$786,319$155,338$1,280,632
15$2,333,404$827,432$163,105$1,342,867
16$2,450,074$870,600$171,260$1,408,214
17$2,572,577$915,926$179,823$1,476,828
18$2,701,206$963,519$188,814$1,548,873
19$2,836,267$1,013,491$198,255$1,624,521
20$2,978,080$1,065,962$208,168$1,703,950
21$3,126,984$1,121,056$218,576$1,787,351
22$3,283,333$1,178,906$229,505$1,874,923
23$3,447,500$1,239,647$240,980$1,966,872
24$3,619,875$1,303,426$253,029$2,063,420
25$3,800,869$1,370,394$265,681$2,164,794
26$3,990,912$1,440,710$278,965$2,271,238
27$4,190,458$1,514,542$292,913$2,383,003
28$4,399,980$1,592,065$307,559$2,500,357
29$4,619,979$1,673,465$322,937$2,623,578
30$4,850,978$1,758,934$339,083$2,752,961
Total$78,300,000$27,893,170$5,473,170$44,933,661

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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.