USA Mega

Connecticut Powerball Jackpot Annuity Payout Schedule for Oct 11, 2023

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The tax information provided here is based on 2025 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 $1,764,900,000 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:Wed, Oct 11, 2023
Jackpot:$1,764,900,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$26,564,278$9,785,803$1,856,843$14,921,632
2$27,892,492$10,277,242$1,949,685$15,665,564
3$29,287,116$10,793,253$2,047,169$16,446,693
4$30,751,473$11,335,065$2,149,528$17,266,880
5$32,289,045$11,903,967$2,257,004$18,128,074
6$33,903,498$12,501,314$2,369,854$19,032,329
7$35,598,674$13,128,530$2,488,347$19,981,797
8$37,378,607$13,787,105$2,612,765$20,978,738
9$39,247,537$14,478,609$2,743,403$22,025,525
10$41,209,914$15,204,688$2,880,573$23,124,652
11$43,270,410$15,967,072$3,024,602$24,278,736
12$45,433,930$16,767,574$3,175,832$25,490,524
13$47,705,626$17,608,102$3,334,623$26,762,901
14$50,090,908$18,490,656$3,501,354$28,098,897
15$52,595,453$19,417,338$3,676,422$29,501,693
16$55,225,226$20,390,354$3,860,243$30,974,629
17$57,986,487$21,412,020$4,053,255$32,521,211
18$60,885,811$22,484,770$4,255,918$34,145,123
19$63,930,102$23,611,158$4,468,714$35,850,230
20$67,126,607$24,793,865$4,692,150$37,640,592
21$70,482,937$26,035,707$4,926,757$39,520,473
22$74,007,084$27,339,641$5,173,095$41,494,347
23$77,707,439$28,708,773$5,431,750$43,566,916
24$81,592,810$30,146,360$5,703,337$45,743,112
25$85,672,450$31,655,827$5,988,504$48,028,119
26$89,956,074$33,240,768$6,287,930$50,427,377
27$94,453,878$34,904,955$6,602,326$52,946,597
28$99,176,570$36,652,351$6,932,442$55,591,777
29$104,135,399$38,487,118$7,279,064$58,369,217
30$109,342,170$40,413,623$7,643,018$61,285,529
Total$1,764,900,004$651,723,608$123,366,507$989,809,884

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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.