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Connecticut Powerball Jackpot Annuity Payout Schedule for Oct 1, 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 $325,400,000 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, Oct 1, 2022
Jackpot:$325,400,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,897,737$1,775,118$342,352$2,780,267
2$5,142,624$1,865,726$359,469$2,917,429
3$5,399,755$1,960,864$377,443$3,061,448
4$5,669,743$2,060,760$396,315$3,212,668
5$5,953,230$2,165,650$416,131$3,371,449
6$6,250,891$2,275,785$436,937$3,538,169
7$6,563,436$2,391,426$458,784$3,713,226
8$6,891,608$2,512,850$481,723$3,897,035
9$7,236,188$2,640,345$505,810$4,090,034
10$7,597,998$2,774,214$531,100$4,292,683
11$7,977,898$2,914,777$557,655$4,505,465
12$8,376,792$3,062,368$585,538$4,728,886
13$8,795,632$3,217,339$614,815$4,963,478
14$9,235,414$3,380,058$645,555$5,209,800
15$9,697,184$3,550,913$677,833$5,468,438
16$10,182,044$3,730,311$711,725$5,740,008
17$10,691,146$3,918,679$747,311$6,025,156
18$11,225,703$4,116,465$784,677$6,324,561
19$11,786,988$4,324,141$823,910$6,638,937
20$12,376,337$4,542,200$865,106$6,969,032
21$12,995,154$4,771,162$908,361$7,315,631
22$13,644,912$5,011,572$953,779$7,679,560
23$14,327,158$5,264,003$1,001,468$8,061,686
24$15,043,515$5,529,056$1,051,542$8,462,918
25$15,795,691$5,807,361$1,104,119$8,884,212
26$16,585,476$6,099,581$1,159,325$9,326,570
27$17,414,750$6,406,412$1,217,291$9,791,046
28$18,285,487$6,728,585$1,278,156$10,278,746
29$19,199,761$7,066,867$1,342,063$10,790,831
30$20,159,750$7,422,062$1,409,166$11,328,521
Total$325,400,001$119,286,650$22,745,459$183,367,890

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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.