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Connecticut Powerball Jackpot Annuity Payout Schedule for Sep 26, 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 $286,000,000 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, Sep 26, 2022
Jackpot:$286,000,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,304,710$1,555,698$300,899$2,448,113
2$4,519,946$1,635,335$315,944$2,568,667
3$4,745,943$1,718,954$331,741$2,695,248
4$4,983,241$1,806,754$348,329$2,828,158
5$5,232,402$1,898,944$365,745$2,967,714
6$5,494,023$1,995,743$384,032$3,114,247
7$5,768,724$2,097,383$403,234$3,268,107
8$6,057,160$2,204,104$423,395$3,429,660
9$6,360,018$2,316,162$444,565$3,599,291
10$6,678,019$2,433,822$466,794$3,777,403
11$7,011,920$2,557,365$490,133$3,964,421
12$7,362,516$2,687,086$514,640$4,160,790
13$7,730,641$2,823,292$540,372$4,366,977
14$8,117,174$2,966,309$567,390$4,583,474
15$8,523,032$3,116,477$595,760$4,810,795
16$8,949,184$3,274,153$625,548$5,049,483
17$9,396,643$3,439,713$656,825$5,300,105
18$9,866,475$3,613,551$689,667$5,563,258
19$10,359,799$3,796,081$724,150$5,839,568
20$10,877,789$3,987,737$760,357$6,129,695
21$11,421,678$4,188,976$798,375$6,434,327
22$11,992,762$4,400,277$838,294$6,754,191
23$12,592,400$4,622,143$880,209$7,090,048
24$13,222,020$4,855,102$924,219$7,442,699
25$13,883,121$5,099,710$970,430$7,812,981
26$14,577,278$5,356,548$1,018,952$8,201,778
27$15,306,141$5,626,227$1,069,899$8,610,015
28$16,071,448$5,909,391$1,123,394$9,038,663
29$16,875,021$6,206,713$1,179,564$9,488,744
30$17,718,772$6,518,901$1,238,542$9,961,329
Total$286,000,001$104,708,651$19,991,398$161,299,949

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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.