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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 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 $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 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$1,550,931$300,899$2,452,881
2$4,519,946$1,630,568$315,944$2,573,434
3$4,745,943$1,714,187$331,741$2,700,015
4$4,983,241$1,801,987$348,329$2,832,925
5$5,232,402$1,894,177$365,745$2,972,481
6$5,494,023$1,990,976$384,032$3,119,014
7$5,768,724$2,092,616$403,234$3,272,874
8$6,057,160$2,199,337$423,395$3,434,428
9$6,360,018$2,311,394$444,565$3,604,058
10$6,678,019$2,429,055$466,794$3,782,171
11$7,011,920$2,552,598$490,133$3,969,189
12$7,362,516$2,682,319$514,640$4,165,557
13$7,730,641$2,818,525$540,372$4,371,745
14$8,117,174$2,961,542$567,390$4,588,241
15$8,523,032$3,111,710$595,760$4,815,563
16$8,949,184$3,269,386$625,548$5,054,250
17$9,396,643$3,434,946$656,825$5,304,872
18$9,866,475$3,608,784$689,667$5,568,025
19$10,359,799$3,791,313$724,150$5,844,336
20$10,877,789$3,982,970$760,357$6,134,462
21$11,421,678$4,184,209$798,375$6,439,094
22$11,992,762$4,395,510$838,294$6,758,958
23$12,592,400$4,617,376$880,209$7,094,816
24$13,222,020$4,850,335$924,219$7,447,466
25$13,883,121$5,094,943$970,430$7,817,748
26$14,577,278$5,351,780$1,018,952$8,206,545
27$15,306,141$5,621,460$1,069,899$8,614,782
28$16,071,448$5,904,624$1,123,394$9,043,430
29$16,875,021$6,201,945$1,179,564$9,493,511
30$17,718,772$6,514,133$1,238,542$9,966,096
Total$286,000,001$104,565,636$19,991,398$161,442,967

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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.