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Connecticut Powerball Jackpot Annuity Payout Schedule for Oct 15, 2022

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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 $464,800,000 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, Oct 15, 2022
Jackpot:$464,800,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,995,907$2,546,673$489,014$3,960,220
2$7,345,702$2,676,098$513,465$4,156,140
3$7,712,987$2,811,993$539,138$4,361,857
4$8,098,637$2,954,683$566,095$4,577,859
5$8,503,569$3,104,508$594,399$4,804,661
6$8,928,747$3,261,824$624,119$5,042,804
7$9,375,185$3,427,006$655,325$5,292,853
8$9,843,944$3,600,447$688,092$5,555,405
9$10,336,141$3,782,560$722,496$5,831,085
10$10,852,948$3,973,779$758,621$6,120,548
11$11,395,595$4,174,558$796,552$6,424,485
12$11,965,375$4,385,377$836,380$6,743,619
13$12,563,644$4,606,736$878,199$7,078,709
14$13,191,826$4,839,163$922,109$7,430,554
15$13,851,417$5,083,212$968,214$7,799,991
16$14,543,988$5,339,463$1,016,625$8,187,900
17$15,271,188$5,608,527$1,067,456$8,595,204
18$16,034,747$5,891,044$1,120,829$9,022,874
19$16,836,484$6,187,687$1,176,870$9,471,927
20$17,678,309$6,499,162$1,235,714$9,943,433
21$18,562,224$6,826,211$1,297,499$10,438,514
22$19,490,335$7,169,612$1,362,374$10,958,349
23$20,464,852$7,530,183$1,430,493$11,504,176
24$21,488,094$7,908,783$1,502,018$12,077,294
25$22,562,499$8,306,312$1,577,119$12,679,068
26$23,690,625$8,723,719$1,655,975$13,310,931
27$24,875,156$9,161,995$1,738,773$13,974,387
28$26,118,913$9,622,186$1,825,712$14,671,015
29$27,424,859$10,105,386$1,916,998$15,402,476
30$28,796,102$10,612,746$2,012,848$16,170,509
Total$464,800,001$170,721,633$32,489,521$261,588,847

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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.