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Connecticut Powerball Jackpot Annuity Payout Schedule for Jan 23, 2021

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The tax information provided here is based on 2021 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 $20,000,000 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 prize money, as well as deductions claimed.

Connecticut

Federal Filing Status:

Year Gross Payment Federal Taxes State Taxes Net Payment
1 $301,029 $79,904 $21,042 $200,082
2 $316,080 $85,172 $22,094 $208,814
3 $331,884 $90,704 $23,199 $217,982
4 $348,478 $96,512 $24,359 $227,608
5 $365,902 $102,610 $25,577 $237,716
6 $384,197 $109,013 $26,855 $248,329
7 $403,407 $115,737 $28,198 $259,472
8 $423,578 $122,796 $29,608 $271,173
9 $444,757 $130,209 $31,088 $283,459
10 $466,994 $137,992 $32,643 $296,359
11 $490,344 $146,165 $34,275 $309,904
12 $514,861 $154,746 $35,989 $324,127
13 $540,604 $164,096 $37,788 $338,720
14 $567,635 $174,097 $39,678 $353,860
15 $596,016 $184,598 $41,662 $369,756
16 $625,817 $195,625 $43,745 $386,448
17 $657,108 $207,202 $45,932 $403,974
18 $689,963 $219,359 $48,228 $422,376
19 $724,461 $232,123 $50,640 $441,699
20 $760,685 $245,526 $53,172 $461,987
21 $798,719 $259,598 $55,830 $483,290
22 $838,655 $274,374 $58,622 $505,658
23 $880,587 $289,890 $61,553 $529,145
24 $924,617 $306,180 $64,631 $553,806
25 $970,848 $323,286 $67,862 $579,700
26 $1,019,390 $341,247 $71,255 $606,888
27 $1,070,360 $360,105 $74,818 $635,436
28 $1,123,878 $379,907 $78,559 $665,412
29 $1,180,071 $400,699 $82,487 $696,886
30 $1,239,075 $422,530 $86,611 $729,934
Total $20,000,000 $6,352,002 $1,398,000 $12,250,000

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.

Powerball annuity chart shows the annual net payout a Connecticut jackpot winner would get after federal and state taxes. ]]>