USA Mega

Connecticut Powerball Jackpot Annuity Payout Schedule for Oct 2, 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 $1,066,200,000 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, Oct 2, 2023
Jackpot:$1,066,200,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$16,047,840$5,894,721$1,121,744$9,031,375
2$16,850,232$6,191,606$1,177,831$9,480,795
3$17,692,744$6,503,335$1,236,723$9,952,685
4$18,577,381$6,830,651$1,298,559$10,448,171
5$19,506,249$7,174,333$1,363,487$10,968,430
6$20,481,562$7,535,198$1,431,661$11,514,703
7$21,505,641$7,914,107$1,503,244$12,088,289
8$22,580,923$8,311,962$1,578,407$12,690,555
9$23,709,969$8,729,709$1,657,327$13,322,933
10$24,895,467$9,168,343$1,740,193$13,986,931
11$26,140,241$9,628,909$1,827,203$14,684,129
12$27,447,253$10,112,504$1,918,563$15,416,186
13$28,819,615$10,620,278$2,014,491$16,184,846
14$30,260,596$11,153,441$2,115,216$16,991,940
15$31,773,626$11,713,262$2,220,976$17,839,388
16$33,362,307$12,301,074$2,332,025$18,729,208
17$35,030,422$12,918,276$2,448,627$19,663,519
18$36,781,944$13,566,339$2,571,058$20,644,546
19$38,621,040$14,246,805$2,699,611$21,674,624
20$40,552,093$14,961,295$2,834,591$22,756,207
21$42,579,697$15,711,508$2,976,321$23,891,868
22$44,708,682$16,499,233$3,125,137$25,084,313
23$46,944,116$17,326,343$3,281,394$26,336,379
24$49,291,322$18,194,809$3,445,463$27,651,049
25$51,755,888$19,106,699$3,617,737$29,031,452
26$54,343,683$20,064,183$3,798,623$30,480,877
27$57,060,867$21,069,541$3,988,555$32,002,771
28$59,913,910$22,125,167$4,187,982$33,600,760
29$62,909,605$23,233,574$4,397,381$35,278,650
30$66,055,086$24,397,402$4,617,251$37,040,433
Total$1,066,200,002$393,204,607$74,527,381$598,468,012

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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.