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Connecticut Powerball Jackpot Annuity Payout Schedule for Jul 29, 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 $142,600,000 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, Jul 29, 2024
Jackpot:$142,600,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,146,335$752,332$150,029$1,243,974
2$2,253,651$792,039$157,530$1,304,082
3$2,366,334$833,731$165,407$1,367,196
4$2,484,651$877,509$173,677$1,433,465
5$2,608,883$923,475$182,361$1,503,048
6$2,739,327$971,739$191,479$1,576,109
7$2,876,294$1,022,416$201,053$1,652,824
8$3,020,108$1,075,628$211,106$1,733,375
9$3,171,114$1,131,500$221,661$1,817,953
10$3,329,670$1,190,165$232,744$1,906,760
11$3,496,153$1,251,764$244,381$2,000,008
12$3,670,961$1,316,443$256,600$2,097,917
13$3,854,509$1,384,356$269,430$2,200,723
14$4,047,234$1,455,664$282,902$2,308,668
15$4,249,596$1,530,538$297,047$2,422,011
16$4,462,076$1,609,156$311,899$2,541,021
17$4,685,179$1,691,704$327,494$2,665,981
18$4,919,438$1,778,380$343,869$2,797,190
19$5,165,410$1,869,390$361,062$2,934,959
20$5,423,681$1,964,950$379,115$3,079,616
21$5,694,865$2,065,288$398,071$3,231,506
22$5,979,608$2,170,643$417,975$3,390,991
23$6,278,588$2,281,265$438,873$3,558,450
24$6,592,518$2,397,419$460,817$3,734,281
25$6,922,144$2,519,381$483,858$3,918,905
26$7,268,251$2,647,441$508,051$4,112,760
27$7,631,664$2,781,903$533,453$4,316,307
28$8,013,247$2,923,089$560,126$4,530,032
29$8,413,909$3,071,334$588,132$4,754,443
30$8,834,604$3,226,991$617,539$4,990,074
Total$142,600,000$51,507,633$9,967,741$81,124,629

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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.