USA Mega

Connecticut Powerball Jackpot Annuity Payout Schedule for Nov 28, 2022

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $54,800,000 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 prize money, as well as deductions claimed.

State:

Connecticut

Drawing Date:Mon, Nov 28, 2022
Jackpot:$54,800,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$824,819$268,138$57,655$499,026
2$866,060$283,397$60,538$522,125
3$909,363$299,419$63,564$546,379
4$954,831$316,242$66,743$571,846
5$1,002,572$333,907$70,080$598,586
6$1,052,701$352,454$73,584$626,663
7$1,105,336$371,929$77,263$656,144
8$1,160,603$392,378$81,126$687,099
9$1,218,633$413,849$85,182$719,601
10$1,279,564$436,394$89,442$753,729
11$1,343,543$460,066$93,914$789,563
12$1,410,720$484,921$98,609$827,189
13$1,481,256$511,020$103,540$866,696
14$1,555,319$538,423$108,717$908,179
15$1,633,084$567,196$114,153$951,736
16$1,714,739$597,408$119,860$997,470
17$1,800,476$629,131$125,853$1,045,491
18$1,890,499$662,440$132,146$1,095,914
19$1,985,024$697,414$138,753$1,148,857
20$2,084,276$734,137$145,691$1,204,448
21$2,188,489$772,696$152,975$1,262,818
22$2,297,914$813,183$160,624$1,324,107
23$2,412,810$855,695$168,655$1,388,460
24$2,533,450$900,332$177,088$1,456,030
25$2,660,123$947,200$185,943$1,526,980
26$2,793,129$996,413$195,240$1,601,476
27$2,932,785$1,048,086$205,002$1,679,698
28$3,079,424$1,102,342$215,252$1,761,831
29$3,233,396$1,159,311$226,014$1,848,070
30$3,395,065$1,219,129$237,315$1,938,621
Total$54,800,000$19,164,650$3,830,521$31,804,832

◄ Back to Jackpot Analysis

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.