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Connecticut Powerball Jackpot Annuity Payout Schedule for Apr 17, 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 $80,700,000 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:Wed, Apr 17, 2024
Jackpot:$80,700,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,214,651$407,609$84,904$722,138
2$1,275,383$430,080$89,149$756,154
3$1,339,153$453,674$93,607$791,872
4$1,406,110$478,449$98,287$829,375
5$1,476,416$504,462$103,201$868,753
6$1,550,236$531,775$108,362$910,100
7$1,627,748$560,455$113,780$953,514
8$1,709,136$590,568$119,469$999,099
9$1,794,592$622,187$125,442$1,046,963
10$1,884,322$655,387$131,714$1,097,221
11$1,978,538$690,247$138,300$1,149,991
12$2,077,465$726,850$145,215$1,205,400
13$2,181,338$765,283$152,476$1,263,580
14$2,290,405$805,638$160,099$1,324,668
15$2,404,926$848,010$168,104$1,388,811
16$2,525,172$892,501$176,510$1,456,161
17$2,651,430$939,217$185,335$1,526,878
18$2,784,002$988,268$194,602$1,601,132
19$2,923,202$1,039,772$204,332$1,679,098
20$3,069,362$1,093,852$214,548$1,760,962
21$3,222,830$1,150,635$225,276$1,846,919
22$3,383,972$1,210,257$236,540$1,937,175
23$3,553,170$1,272,861$248,367$2,031,943
24$3,730,829$1,338,594$260,785$2,131,449
25$3,917,370$1,407,615$273,824$2,235,931
26$4,113,239$1,480,086$287,515$2,345,637
27$4,318,901$1,556,181$301,891$2,460,829
28$4,534,846$1,636,081$316,986$2,581,779
29$4,761,588$1,719,975$332,835$2,708,778
30$4,999,667$1,808,065$349,477$2,842,126
Total$80,700,000$28,604,634$5,640,932$46,454,436

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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.