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Connecticut Powerball Jackpot Annuity Payout Schedule for Jun 25, 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 $333,700,000 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, Jun 25, 2022
Jackpot:$333,700,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,022,664$1,821,341$351,084$2,850,239
2$5,273,797$1,914,260$368,638$2,990,899
3$5,537,487$2,011,825$387,070$3,138,591
4$5,814,361$2,114,269$406,424$3,293,669
5$6,105,079$2,221,834$426,745$3,456,500
6$6,410,333$2,334,778$448,082$3,627,473
7$6,730,850$2,453,370$470,486$3,806,994
8$7,067,393$2,577,890$494,011$3,995,492
9$7,420,762$2,708,637$518,711$4,193,414
10$7,791,800$2,845,921$544,647$4,401,232
11$8,181,390$2,990,069$571,879$4,619,442
12$8,590,460$3,141,425$600,473$4,848,562
13$9,019,983$3,300,349$630,497$5,089,137
14$9,470,982$3,467,218$662,022$5,341,742
15$9,944,531$3,642,431$695,123$5,606,977
16$10,441,758$3,826,405$729,879$5,885,473
17$10,963,845$4,019,578$766,373$6,177,895
18$11,512,038$4,222,409$804,691$6,484,937
19$12,087,639$4,435,382$844,926$6,807,332
20$12,692,022$4,659,003$887,172$7,145,846
21$13,326,623$4,893,805$931,531$7,501,286
22$13,992,954$5,140,348$978,107$7,874,498
23$14,692,601$5,399,218$1,027,013$8,266,371
24$15,427,231$5,671,031$1,078,363$8,677,837
25$16,198,593$5,956,434$1,132,282$9,109,877
26$17,008,523$6,256,108$1,188,896$9,563,519
27$17,858,949$6,570,766$1,248,341$10,039,842
28$18,751,896$6,901,157$1,310,758$10,539,982
29$19,689,491$7,248,067$1,376,295$11,065,129
30$20,673,966$7,612,322$1,445,110$11,616,533
Total$333,700,001$122,357,650$23,325,629$188,016,720

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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.