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Connecticut Powerball Jackpot Annuity Payout Schedule for Mar 4, 2024

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The tax information provided here is based on 2024 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 $462,700,000 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, Mar 4, 2024
Jackpot:$462,700,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,964,299$2,534,978$486,804$3,942,516
2$7,312,514$2,663,818$511,145$4,137,551
3$7,678,140$2,799,099$536,702$4,342,338
4$8,062,047$2,941,145$563,537$4,557,365
5$8,465,149$3,090,293$591,714$4,783,142
6$8,888,406$3,246,898$621,300$5,020,209
7$9,332,827$3,411,334$652,365$5,269,129
8$9,799,468$3,583,991$684,983$5,530,494
9$10,289,442$3,765,281$719,232$5,804,929
10$10,803,914$3,955,636$755,194$6,093,084
11$11,344,109$4,155,508$792,953$6,395,648
12$11,911,315$4,365,374$832,601$6,713,340
13$12,506,880$4,585,734$874,231$7,046,916
14$13,132,225$4,817,111$917,943$7,397,171
15$13,788,836$5,060,057$963,840$7,764,939
16$14,478,278$5,315,150$1,012,032$8,151,096
17$15,202,191$5,582,999$1,062,633$8,556,560
18$15,962,301$5,864,239$1,115,765$8,982,297
19$16,760,416$6,159,542$1,171,553$9,429,321
20$17,598,437$6,469,609$1,230,131$9,898,697
21$18,478,359$6,795,180$1,291,637$10,391,541
22$19,402,276$7,137,030$1,356,219$10,909,027
23$20,372,390$7,495,972$1,424,030$11,452,388
24$21,391,010$7,872,861$1,495,232$12,022,917
25$22,460,560$8,268,595$1,569,993$12,621,972
26$23,583,589$8,684,116$1,648,493$13,250,980
27$24,762,768$9,120,412$1,730,917$13,911,439
28$26,000,906$9,578,523$1,817,463$14,604,920
29$27,300,951$10,059,540$1,908,337$15,333,075
30$28,665,999$10,564,607$2,003,753$16,097,638
Total$462,700,001$169,944,632$32,342,732$260,412,639

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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.