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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 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 $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$3,727,811$712,374$5,751,142
2$10,700,893$3,916,351$747,992$6,036,550
3$11,235,938$4,114,317$785,392$6,336,228
4$11,797,735$4,322,182$824,662$6,650,891
5$12,387,621$4,540,440$865,895$6,981,286
6$13,007,002$4,769,611$909,189$7,328,202
7$13,657,353$5,010,241$954,649$7,692,463
8$14,340,220$5,262,902$1,002,381$8,074,937
9$15,057,231$5,528,196$1,052,500$8,476,535
10$15,810,093$5,806,755$1,105,125$8,898,213
11$16,600,597$6,099,241$1,160,382$9,340,974
12$17,430,627$6,406,352$1,218,401$9,805,874
13$18,302,159$6,728,819$1,279,321$10,294,019
14$19,217,267$7,067,409$1,343,287$10,806,571
15$20,178,130$7,422,928$1,410,451$11,344,750
16$21,187,037$7,796,224$1,480,974$11,909,839
17$22,246,388$8,188,184$1,555,023$12,503,182
18$23,358,708$8,599,742$1,632,774$13,126,192
19$24,526,643$9,031,878$1,714,412$13,780,352
20$25,752,975$9,485,621$1,800,133$14,467,221
21$27,040,624$9,962,051$1,890,140$15,188,433
22$28,392,655$10,462,303$1,984,647$15,945,706
23$29,812,288$10,987,567$2,083,879$16,740,842
24$31,302,902$11,539,094$2,188,073$17,575,735
25$32,868,047$12,118,198$2,297,476$18,452,373
26$34,511,450$12,726,257$2,412,350$19,372,843
27$36,237,022$13,364,718$2,532,968$20,339,336
28$38,048,873$14,035,103$2,659,616$21,354,153
29$39,951,317$14,739,007$2,792,597$22,419,712
30$41,948,883$15,478,107$2,932,227$23,538,549
Total$677,100,001$249,237,609$47,329,290$380,533,103

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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.