Connecticut Lottery

CTLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Aug 24, 2026 is estimated to be $81 Million, with a cash option of 34.8 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 Aug 24, 2026

Draw Date	Jackpot	Cash Option
Mon Aug 24, 2026	$81,000,000	$34,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$34,800,000
Federal Tax(24%)	$8,352,000
Additional Federal Tax	$4,484,330
State Tax(6.99%)	$2,432,520
Net Lumpsum Payment	$19,531,150

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,219,131	-$411,409 -$85,217	$722,505
2	$1,280,124	-$433,976 -$89,481	$756,667
3	$1,344,114	-$457,653 -$93,954	$792,507
4	$1,411,344	-$482,528 -$98,653	$830,163
5	$1,481,895	-$508,632 -$103,584	$869,679
6	$1,556,010	-$536,054 -$108,765	$911,191
7	$1,633,770	-$564,825 -$114,201	$954,744
8	$1,715,499	-$595,065 -$119,913	$1,000,521
9	$1,801,278	-$626,803 -$125,909	$1,048,566
10	$1,891,350	-$660,130 -$132,205	$1,099,015
11	$1,985,877	-$695,105 -$138,813	$1,151,959
12	$2,085,183	-$731,848 -$145,754	$1,207,581
13	$2,189,430	-$770,419 -$153,041	$1,265,970
14	$2,298,942	-$810,939 -$160,696	$1,327,307
15	$2,413,881	-$853,466 -$168,730	$1,391,685
16	$2,534,571	-$898,122 -$177,167	$1,459,282
17	$2,661,255	-$944,995 -$186,022	$1,530,238
18	$2,794,338	-$994,235 -$195,324	$1,604,779
19	$2,934,063	-$1,045,934 -$205,091	$1,683,038
20	$3,080,754	-$1,100,209 -$215,345	$1,765,200
21	$3,234,816	-$1,157,212 -$226,114	$1,851,490
22	$3,396,573	-$1,217,062 -$237,420	$1,942,091
23	$3,566,349	-$1,279,880 -$249,288	$2,037,181
24	$3,744,711	-$1,345,873 -$261,755	$2,137,083
25	$3,931,902	-$1,415,134 -$274,840	$2,241,928
26	$4,128,570	-$1,487,901 -$288,587	$2,352,082
27	$4,334,958	-$1,564,265 -$303,014	$2,467,679
28	$4,551,714	-$1,644,465 -$318,165	$2,589,084
29	$4,779,324	-$1,728,680 -$334,075	$2,716,569
30	$5,018,274	-$1,817,092 -$350,777	$2,850,405