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Connecticut Powerball Jackpot Annuity Payout Schedule for Jan 5, 2022

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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 $632,600,000 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:Wed, Jan 5, 2022
Jackpot:$632,600,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,521,538$3,485,924$665,555$5,370,058
2$9,997,615$3,662,072$698,833$5,636,709
3$10,497,495$3,847,028$733,775$5,916,692
4$11,022,371$4,041,232$770,464$6,210,675
5$11,573,488$4,245,146$808,987$6,519,356
6$12,152,163$4,459,255$849,436$6,843,472
7$12,759,772$4,684,071$891,908$7,183,793
8$13,397,760$4,920,126$936,503$7,541,130
9$14,067,648$5,167,985$983,329$7,916,335
10$14,771,030$5,428,236$1,032,495$8,310,299
11$15,509,582$5,701,500$1,084,120$8,723,962
12$16,285,061$5,988,428$1,138,326$9,158,308
13$17,099,314$6,289,701$1,195,242$9,614,371
14$17,954,280$6,606,039$1,255,004$10,093,237
15$18,851,994$6,938,193$1,317,754$10,596,047
16$19,794,594$7,286,955$1,383,642$11,123,997
17$20,784,323$7,653,154$1,452,824$11,678,344
18$21,823,539$8,037,664$1,525,465$12,260,409
19$22,914,716$8,441,400$1,601,739$12,871,577
20$24,060,452$8,865,322$1,681,826$13,513,304
21$25,263,474$9,310,441$1,765,917$14,187,117
22$26,526,648$9,777,815$1,854,213$14,894,621
23$27,852,981$10,268,558$1,946,923$15,637,500
24$29,245,629$10,783,838$2,044,269$16,417,522
25$30,707,911$11,324,882$2,146,483$17,236,546
26$32,243,307$11,892,979$2,253,807$18,096,521
27$33,855,472$12,489,480$2,366,498$18,999,495
28$35,548,245$13,115,806$2,484,822$19,947,617
29$37,325,658$13,773,448$2,609,063$20,943,146
30$39,191,941$14,463,973$2,739,517$21,988,451
Total$632,600,001$232,950,651$44,218,739$355,430,611

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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.