Connecticut Lottery

CTLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Aug 4, 2025 is estimated to be $426 Million, with a cash option of 193.5 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 4, 2025

Draw Date	Jackpot	Cash Option
Mon Aug 4, 2025	$426,000,000	$193,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$193,500,000
Federal Tax(24%)	$46,440,000
Additional Federal Tax	$25,115,330
State Tax(6.99%)	$13,525,650
Net Lumpsum Payment	$108,419,020

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$6,411,726	-$2,332,669 -$448,180	$3,630,877
2	$6,732,504	-$2,451,357 -$470,602	$3,810,545
3	$7,069,044	-$2,575,877 -$494,126	$3,999,041
4	$7,422,624	-$2,706,701 -$518,841	$4,197,082
5	$7,793,670	-$2,843,988 -$544,778	$4,404,904
6	$8,183,460	-$2,988,211 -$572,024	$4,623,225
7	$8,592,420	-$3,139,526 -$600,610	$4,852,284
8	$9,022,254	-$3,298,564 -$630,656	$5,093,034
9	$9,473,388	-$3,465,484 -$662,190	$5,345,714
10	$9,947,100	-$3,640,757 -$695,302	$5,611,041
11	$10,444,242	-$3,824,700 -$730,053	$5,889,489
12	$10,966,518	-$4,017,942 -$766,560	$6,182,016
13	$11,514,780	-$4,220,799 -$804,883	$6,489,098
14	$12,090,732	-$4,433,901 -$845,142	$6,811,689
15	$12,695,226	-$4,657,564 -$887,396	$7,150,266
16	$13,329,966	-$4,892,418 -$931,765	$7,505,783
17	$13,996,230	-$5,138,935 -$978,336	$7,878,959
18	$14,696,148	-$5,397,905 -$1,027,261	$8,270,982
19	$15,430,998	-$5,669,800 -$1,078,627	$8,682,571
20	$16,202,484	-$5,955,249 -$1,132,554	$9,114,681
21	$17,012,736	-$6,255,043 -$1,189,190	$9,568,503
22	$17,863,458	-$6,569,810 -$1,248,656	$10,044,992
23	$18,756,354	-$6,900,181 -$1,311,069	$10,545,104
24	$19,694,406	-$7,247,261 -$1,376,639	$11,070,506
25	$20,678,892	-$7,611,520 -$1,445,455	$11,621,917
26	$21,713,220	-$7,994,222 -$1,517,754	$12,201,244
27	$22,798,668	-$8,395,838 -$1,593,627	$12,809,203
28	$23,938,644	-$8,817,629 -$1,673,311	$13,447,704
29	$25,135,704	-$9,260,541 -$1,756,986	$14,118,177
30	$26,392,404	-$9,725,520 -$1,844,829	$14,822,055