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Connecticut Powerball Jackpot Annuity Payout Schedule for Jun 22, 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 $73,300,000 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, Jun 22, 2024
Jackpot:$73,300,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,103,270$365,230$77,119$660,921
2$1,158,434$385,641$80,975$691,818
3$1,216,355$407,072$85,023$724,260
4$1,277,173$429,574$89,274$758,324
5$1,341,032$453,202$93,738$794,092
6$1,408,083$478,011$98,425$831,647
7$1,478,488$504,061$103,346$871,081
8$1,552,412$531,413$108,514$912,486
9$1,630,033$560,132$113,939$955,961
10$1,711,534$590,288$119,636$1,001,610
11$1,797,111$621,951$125,618$1,049,542
12$1,886,966$655,198$131,899$1,099,870
13$1,981,315$690,107$138,494$1,152,714
14$2,080,381$726,761$145,419$1,208,201
15$2,184,400$765,248$152,690$1,266,462
16$2,293,620$805,659$160,324$1,327,636
17$2,408,300$848,091$168,340$1,391,869
18$2,528,715$892,645$176,757$1,459,313
19$2,655,151$939,426$185,595$1,530,130
20$2,787,909$988,547$194,875$1,604,487
21$2,927,304$1,040,123$204,619$1,682,563
22$3,073,669$1,094,278$214,849$1,764,542
23$3,227,353$1,151,141$225,592$1,850,620
24$3,388,721$1,210,847$236,872$1,941,002
25$3,558,157$1,273,538$248,715$2,035,903
26$3,736,064$1,339,364$261,151$2,135,549
27$3,922,868$1,408,481$274,208$2,240,178
28$4,119,011$1,481,054$287,919$2,350,038
29$4,324,962$1,557,256$302,315$2,465,391
30$4,541,210$1,637,268$317,431$2,586,511
Total$73,300,000$25,831,607$5,123,671$42,344,721

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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.