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Connecticut Powerball Jackpot Annuity Payout Schedule for Nov 19, 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 $92,900,000 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, Nov 19, 2022
Jackpot:$92,900,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,398,278$480,318$97,740$820,221
2$1,468,192$506,186$102,627$859,379
3$1,541,602$533,348$107,758$900,496
4$1,618,682$561,867$113,146$943,669
5$1,699,616$591,813$118,803$989,000
6$1,784,597$623,256$124,743$1,036,598
7$1,873,827$656,271$130,980$1,086,575
8$1,967,518$690,937$137,530$1,139,052
9$2,065,894$727,336$144,406$1,194,152
10$2,169,189$765,555$151,626$1,252,008
11$2,277,648$805,685$159,208$1,312,756
12$2,391,530$847,821$167,168$1,376,541
13$2,511,107$892,065$175,526$1,443,516
14$2,636,662$938,520$184,303$1,513,840
15$2,768,495$987,298$193,518$1,587,679
16$2,906,920$1,038,515$203,194$1,665,211
17$3,052,266$1,092,293$213,353$1,746,619
18$3,204,880$1,148,760$224,021$1,832,098
19$3,365,123$1,208,051$235,222$1,921,851
20$3,533,380$1,270,305$246,983$2,016,091
21$3,710,049$1,335,673$259,332$2,115,043
22$3,895,551$1,404,309$272,299$2,218,943
23$4,090,329$1,476,377$285,914$2,328,038
24$4,294,845$1,552,048$300,210$2,442,588
25$4,509,587$1,631,502$315,220$2,562,865
26$4,735,067$1,714,930$330,981$2,689,156
27$4,971,820$1,802,528$347,530$2,821,761
28$5,220,411$1,894,507$364,907$2,960,997
29$5,481,432$1,991,085$383,152$3,107,195
30$5,755,503$2,092,491$402,310$3,260,702
Total$92,900,000$33,261,650$6,493,710$53,144,640

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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.