Connecticut Lottery

CTLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Mar 10, 2025 is estimated to be $335 Million, with a cash option of 157.3 Million. If you win the Powerball jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Connecticut, your state will take 6.99% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Connecticut Powerball Jackpot/Cash Option for Mon Mar 10, 2025

Draw Date	Jackpot	Cash Option
Mon Mar 10, 2025	$335,000,000	$157,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$157,300,000
Federal Tax(24%)	$37,752,000
Additional Federal Tax	$20,409,330
State Tax(6.99%)	$10,995,270
Net Lumpsum Payment	$88,143,400

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,042,085	-$1,825,902 -$352,442	$2,863,741
2	$5,294,340	-$1,919,236 -$370,074	$3,005,030
3	$5,558,990	-$2,017,157 -$388,573	$3,153,260
4	$5,837,040	-$2,120,035 -$408,009	$3,308,996
5	$6,128,825	-$2,227,996 -$428,405	$3,472,424
6	$6,435,350	-$2,341,410 -$449,831	$3,644,109
7	$6,756,950	-$2,460,402 -$472,311	$3,824,237
8	$7,094,965	-$2,585,467 -$495,938	$4,013,560
9	$7,449,730	-$2,716,730 -$520,736	$4,212,264
10	$7,822,250	-$2,854,563 -$546,775	$4,420,912
11	$8,213,195	-$2,999,213 -$574,102	$4,639,880
12	$8,623,905	-$3,151,175 -$602,811	$4,869,919
13	$9,055,050	-$3,310,699 -$632,948	$5,111,403
14	$9,507,970	-$3,478,279 -$664,607	$5,365,084
15	$9,983,335	-$3,654,164 -$697,835	$5,631,336
16	$10,482,485	-$3,838,850 -$732,726	$5,910,909
17	$11,006,425	-$4,032,708 -$769,349	$6,204,368
18	$11,556,830	-$4,236,357 -$807,822	$6,512,651
19	$12,134,705	-$4,450,171 -$848,216	$6,836,318
20	$12,741,390	-$4,674,645 -$890,623	$7,176,122
21	$13,378,560	-$4,910,398 -$935,161	$7,533,001
22	$14,047,555	-$5,157,926 -$981,924	$7,907,705
23	$14,749,715	-$5,417,725 -$1,031,005	$8,300,985
24	$15,487,385	-$5,690,663 -$1,082,568	$8,714,154
25	$16,261,570	-$5,977,111 -$1,136,684	$9,147,775
26	$17,074,950	-$6,278,062 -$1,193,539	$9,603,349
27	$17,928,530	-$6,593,886 -$1,253,204	$10,081,440
28	$18,824,990	-$6,925,577 -$1,315,867	$10,583,546
29	$19,766,340	-$7,273,876 -$1,381,667	$11,110,797
30	$20,754,590	-$7,639,529 -$1,450,746	$11,664,315