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Connecticut Powerball Jackpot Annuity Payout Schedule for Dec 5, 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 $89,200,000 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 money, as well as deductions claimed.

State:

Connecticut

Drawing Date:Mon, Dec 5, 2022
Jackpot:$89,200,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,342,588$454,945$93,847$793,796
2$1,409,717$479,783$98,539$831,395
3$1,480,203$505,863$103,466$870,874
4$1,554,213$533,247$108,640$912,327
5$1,631,924$562,000$114,071$955,853
6$1,713,520$592,190$119,775$1,001,555
7$1,799,196$623,890$125,764$1,049,542
8$1,889,156$657,176$132,052$1,099,929
9$1,983,614$692,125$138,655$1,152,834
10$2,082,795$728,822$145,587$1,208,386
11$2,186,934$767,353$152,867$1,266,714
12$2,296,281$807,812$160,510$1,327,959
13$2,411,095$850,293$168,536$1,392,267
14$2,531,650$894,898$176,962$1,459,789
15$2,658,232$941,734$185,810$1,530,688
16$2,791,144$990,911$195,101$1,605,132
17$2,930,701$1,042,547$204,856$1,683,298
18$3,077,236$1,096,765$215,099$1,765,372
19$3,231,098$1,153,694$225,854$1,851,550
20$3,392,653$1,213,469$237,146$1,942,037
21$3,562,286$1,276,233$249,004$2,037,048
22$3,740,400$1,342,136$261,454$2,136,810
23$3,927,420$1,411,333$274,527$2,241,560
24$4,123,791$1,483,990$288,253$2,351,548
25$4,329,980$1,560,281$302,666$2,467,034
26$4,546,480$1,640,385$317,799$2,588,295
27$4,773,804$1,724,495$333,689$2,715,620
28$5,012,494$1,812,810$350,373$2,849,310
29$5,263,118$1,905,542$367,892$2,989,685
30$5,526,274$2,002,909$386,287$3,137,078
Total$89,200,000$31,749,631$6,235,081$51,215,285

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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.