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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 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 $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$406,441$84,904$723,306
2$1,275,383$428,912$89,149$757,322
3$1,339,153$452,507$93,607$793,039
4$1,406,110$477,281$98,287$830,542
5$1,476,416$503,294$103,201$869,920
6$1,550,236$530,608$108,362$911,267
7$1,627,748$559,287$113,780$954,682
8$1,709,136$589,400$119,469$1,000,267
9$1,794,592$621,019$125,442$1,048,131
10$1,884,322$654,219$131,714$1,098,389
11$1,978,538$689,079$138,300$1,151,159
12$2,077,465$725,682$145,215$1,206,568
13$2,181,338$764,115$152,476$1,264,747
14$2,290,405$804,470$160,099$1,325,836
15$2,404,926$846,843$168,104$1,389,979
16$2,525,172$891,334$176,510$1,457,328
17$2,651,430$938,049$185,335$1,528,046
18$2,784,002$987,101$194,602$1,602,299
19$2,923,202$1,038,605$204,332$1,680,265
20$3,069,362$1,092,684$214,548$1,762,129
21$3,222,830$1,149,467$225,276$1,848,087
22$3,383,972$1,209,090$236,540$1,938,342
23$3,553,170$1,271,693$248,367$2,033,110
24$3,730,829$1,337,427$260,785$2,132,617
25$3,917,370$1,406,447$273,824$2,237,099
26$4,113,239$1,478,919$287,515$2,346,805
27$4,318,901$1,555,014$301,891$2,461,996
28$4,534,846$1,634,913$316,986$2,582,947
29$4,761,588$1,718,808$332,835$2,709,945
30$4,999,667$1,806,897$349,477$2,843,293
Total$80,700,000$28,569,605$5,640,932$46,489,462

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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.