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Connecticut Powerball Jackpot Annuity Payout Schedule for Nov 23, 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 $32,200,000 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, Nov 23, 2022
Jackpot:$32,200,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$484,656$143,383$33,877$307,396
2$508,889$151,864$35,571$321,454
3$534,333$160,770$37,350$336,214
4$561,050$170,544$39,217$351,289
5$589,103$180,923$41,178$367,001
6$618,558$191,821$43,237$383,499
7$649,486$203,265$45,399$400,822
8$681,960$215,280$47,669$419,011
9$716,058$227,896$50,052$438,109
10$751,861$241,144$52,555$458,162
11$789,454$255,053$55,183$479,218
12$828,927$269,658$57,942$501,327
13$870,373$284,993$60,839$524,541
14$913,892$301,095$63,881$548,916
15$959,586$318,002$67,075$574,509
16$1,007,565$335,754$70,429$601,382
17$1,057,944$354,394$73,950$629,599
18$1,110,841$373,966$77,648$659,227
19$1,166,383$394,517$81,530$690,336
20$1,224,702$416,095$85,607$723,001
21$1,285,937$438,752$89,887$757,298
22$1,350,234$462,542$94,381$793,311
23$1,417,746$487,521$99,100$831,124
24$1,488,633$513,749$104,055$870,828
25$1,563,065$541,289$109,258$912,518
26$1,641,218$570,206$114,721$956,291
27$1,723,279$600,568$120,457$1,002,253
28$1,809,443$632,449$126,480$1,050,514
29$1,899,915$665,924$132,804$1,101,187
30$1,994,911$701,072$139,444$1,154,394
Total$32,200,000$10,804,489$2,250,776$19,144,731

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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.