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Connecticut Powerball Jackpot Annuity Payout Schedule for Sep 21, 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 $196,800,000 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, Sep 21, 2024
Jackpot:$196,800,000
Federal Tax:37% marginal rate
State Tax: 6.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,962,122$1,054,173$207,052$1,700,897
2$3,110,229$1,108,972$217,405$1,783,851
3$3,265,740$1,166,512$228,275$1,870,953
4$3,429,027$1,226,928$239,689$1,962,410
5$3,600,478$1,290,365$251,673$2,058,440
6$3,780,502$1,356,974$264,257$2,159,272
7$3,969,527$1,426,913$277,470$2,265,145
8$4,168,004$1,500,349$291,343$2,376,311
9$4,376,404$1,577,457$305,911$2,493,036
10$4,595,224$1,658,421$321,206$2,615,597
11$4,824,985$1,743,432$337,266$2,744,287
12$5,066,235$1,832,695$354,130$2,879,410
13$5,319,546$1,926,420$371,836$3,021,290
14$5,585,524$2,024,832$390,428$3,170,264
15$5,864,800$2,128,164$409,950$3,326,687
16$6,158,040$2,236,663$430,447$3,490,930
17$6,465,942$2,350,586$451,969$3,663,386
18$6,789,239$2,470,206$474,568$3,844,465
19$7,128,701$2,595,807$498,296$4,034,598
20$7,485,136$2,727,688$523,211$4,234,237
21$7,859,393$2,866,163$549,372$4,443,858
22$8,252,362$3,011,562$576,840$4,663,960
23$8,664,980$3,164,231$605,682$4,895,068
24$9,098,229$3,324,533$635,966$5,137,730
25$9,553,141$3,492,850$667,765$5,392,526
26$10,030,798$3,669,583$701,153$5,660,062
27$10,532,338$3,855,153$736,210$5,940,975
28$11,058,955$4,050,001$773,021$6,235,933
29$11,611,902$4,254,592$811,672$6,545,639
30$12,192,498$4,469,412$852,256$6,870,830
Total$196,800,000$71,561,637$13,756,319$111,482,047

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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.