Connecticut Lottery

CTLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Apr 26, 2025 is estimated to be $168 Million, with a cash option of 77.1 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 Sat Apr 26, 2025

Draw Date	Jackpot	Cash Option
Sat Apr 26, 2025	$168,000,000	$77,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$77,100,000
Federal Tax(24%)	$18,504,000
Additional Federal Tax	$9,983,330
State Tax(6.99%)	$5,389,290
Net Lumpsum Payment	$43,223,380

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,528,568	-$895,901 -$176,747	$1,455,920
2	$2,655,072	-$942,707 -$185,590	$1,526,775
3	$2,787,792	-$991,813 -$194,867	$1,601,112
4	$2,927,232	-$1,043,406 -$204,614	$1,679,212
5	$3,073,560	-$1,097,548 -$214,842	$1,761,170
6	$3,227,280	-$1,154,424 -$225,587	$1,847,269
7	$3,388,560	-$1,214,098 -$236,860	$1,937,602
8	$3,558,072	-$1,276,817 -$248,709	$2,032,546
9	$3,735,984	-$1,342,644 -$261,145	$2,132,195
10	$3,922,800	-$1,411,766 -$274,204	$2,236,830
11	$4,118,856	-$1,484,307 -$287,908	$2,346,641
12	$4,324,824	-$1,560,515 -$302,305	$2,462,004
13	$4,541,040	-$1,640,515 -$317,419	$2,583,106
14	$4,768,176	-$1,724,556 -$333,296	$2,710,324
15	$5,006,568	-$1,812,761 -$349,959	$2,843,848
16	$5,256,888	-$1,905,379 -$367,456	$2,984,053
17	$5,519,640	-$2,002,597 -$385,823	$3,131,220
18	$5,795,664	-$2,104,726 -$405,117	$3,285,821
19	$6,085,464	-$2,211,952 -$425,374	$3,448,138
20	$6,389,712	-$2,324,524 -$446,641	$3,618,547
21	$6,709,248	-$2,442,752 -$468,976	$3,797,520
22	$7,044,744	-$2,566,886 -$492,428	$3,985,430
23	$7,396,872	-$2,697,173 -$517,041	$4,182,658
24	$7,766,808	-$2,834,049 -$542,900	$4,389,859
25	$8,155,056	-$2,977,701 -$570,038	$4,607,317
26	$8,562,960	-$3,128,626 -$598,551	$4,835,783
27	$8,991,024	-$3,287,009 -$628,473	$5,075,542
28	$9,440,592	-$3,453,349 -$659,897	$5,327,346
29	$9,912,672	-$3,628,019 -$692,896	$5,591,757
30	$10,408,272	-$3,811,391 -$727,538	$5,869,343