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Connecticut Powerball Jackpot Annuity Payout Schedule for Feb 24, 2024

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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 $375,900,000 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:Sat, Feb 24, 2024
Jackpot:$375,900,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,657,834$2,050,419$395,483$3,211,933
2$5,940,726$2,155,089$415,257$3,370,381
3$6,237,762$2,264,992$436,020$3,536,750
4$6,549,651$2,380,391$457,821$3,711,439
5$6,877,133$2,501,559$480,712$3,894,862
6$7,220,990$2,628,786$504,747$4,087,456
7$7,582,039$2,762,375$529,985$4,289,680
8$7,961,141$2,902,643$556,484$4,502,015
9$8,359,198$3,049,924$584,308$4,724,967
10$8,777,158$3,204,569$613,523$4,959,066
11$9,216,016$3,366,946$644,200$5,204,870
12$9,676,817$3,537,443$676,410$5,462,965
13$10,160,658$3,716,464$710,230$5,733,964
14$10,668,691$3,904,436$745,741$6,018,513
15$11,202,125$4,101,807$783,029$6,317,290
16$11,762,232$4,309,046$822,180$6,631,006
17$12,350,343$4,526,647$863,289$6,960,407
18$12,967,860$4,755,129$906,453$7,306,278
19$13,616,253$4,995,034$951,776$7,669,443
20$14,297,066$5,246,935$999,365$8,050,766
21$15,011,919$5,511,430$1,049,333$8,451,156
22$15,762,515$5,789,151$1,101,800$8,871,564
23$16,550,641$6,080,757$1,156,890$9,312,994
24$17,378,173$6,386,944$1,214,734$9,776,494
25$18,247,081$6,708,440$1,275,471$10,263,170
26$19,159,436$7,046,011$1,339,245$10,774,180
27$20,117,408$7,400,461$1,406,207$11,310,740
28$21,123,278$7,772,633$1,476,517$11,874,128
29$22,179,442$8,163,414$1,550,343$12,465,685
30$23,288,414$8,573,733$1,627,860$13,086,820
Total$375,900,001$137,793,608$26,275,413$211,830,982

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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.