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Connecticut Powerball Jackpot Annuity Payout Schedule for Sep 20, 2023

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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 $677,100,000 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, Sep 20, 2023
Jackpot:$677,100,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$10,191,327$3,733,746$712,374$5,745,207
2$10,700,893$3,922,285$747,992$6,030,615
3$11,235,938$4,120,252$785,392$6,330,294
4$11,797,735$4,328,117$824,662$6,644,956
5$12,387,621$4,546,375$865,895$6,975,352
6$13,007,002$4,775,546$909,189$7,322,267
7$13,657,353$5,016,176$954,649$7,686,528
8$14,340,220$5,268,837$1,002,381$8,069,002
9$15,057,231$5,534,131$1,052,500$8,470,600
10$15,810,093$5,812,689$1,105,125$8,892,278
11$16,600,597$6,105,176$1,160,382$9,335,040
12$17,430,627$6,412,287$1,218,401$9,799,939
13$18,302,159$6,734,754$1,279,321$10,288,084
14$19,217,267$7,073,344$1,343,287$10,800,636
15$20,178,130$7,428,863$1,410,451$11,338,816
16$21,187,037$7,802,159$1,480,974$11,903,904
17$22,246,388$8,194,119$1,555,023$12,497,247
18$23,358,708$8,605,677$1,632,774$13,120,257
19$24,526,643$9,037,813$1,714,412$13,774,418
20$25,752,975$9,491,556$1,800,133$14,461,286
21$27,040,624$9,967,986$1,890,140$15,182,498
22$28,392,655$10,468,237$1,984,647$15,939,771
23$29,812,288$10,993,501$2,083,879$16,734,907
24$31,302,902$11,545,029$2,188,073$17,569,800
25$32,868,047$12,124,132$2,297,476$18,446,438
26$34,511,450$12,732,191$2,412,350$19,366,908
27$36,237,022$13,370,653$2,532,968$20,333,401
28$38,048,873$14,041,038$2,659,616$21,348,219
29$39,951,317$14,744,942$2,792,597$22,413,777
30$41,948,883$15,484,042$2,932,227$23,532,614
Total$677,100,001$249,415,653$47,329,290$380,355,059

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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.