Connecticut Lottery

CTLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Oct 13, 2025 is estimated to be $258 Million, with a cash option of 120.8 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 Oct 13, 2025

Draw Date	Jackpot	Cash Option
Mon Oct 13, 2025	$258,000,000	$120,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$120,800,000
Federal Tax(24%)	$28,992,000
Additional Federal Tax	$15,664,330
State Tax(6.99%)	$8,443,920
Net Lumpsum Payment	$67,699,750

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,883,158	-$1,397,099 -$271,433	$2,214,626
2	$4,077,432	-$1,468,980 -$285,012	$2,323,440
3	$4,281,252	-$1,544,394 -$299,260	$2,437,598
4	$4,495,392	-$1,623,625 -$314,228	$2,557,539
5	$4,720,110	-$1,706,771 -$329,936	$2,683,403
6	$4,956,180	-$1,794,117 -$346,437	$2,815,626
7	$5,203,860	-$1,885,759 -$363,750	$2,954,351
8	$5,464,182	-$1,982,078 -$381,946	$3,100,158
9	$5,737,404	-$2,083,170 -$401,045	$3,253,189
10	$6,024,300	-$2,189,321 -$421,099	$3,413,880
11	$6,325,386	-$2,300,723 -$442,144	$3,582,519
12	$6,641,694	-$2,417,757 -$464,254	$3,759,683
13	$6,973,740	-$2,540,614 -$487,464	$3,945,662
14	$7,322,556	-$2,669,676 -$511,847	$4,141,033
15	$7,688,658	-$2,805,134 -$537,437	$4,346,087
16	$8,073,078	-$2,947,369 -$564,308	$4,561,401
17	$8,476,590	-$3,096,669 -$592,514	$4,787,407
18	$8,900,484	-$3,253,509 -$622,144	$5,024,831
19	$9,345,534	-$3,418,178 -$653,253	$5,274,103
20	$9,812,772	-$3,591,056 -$685,913	$5,535,803
21	$10,303,488	-$3,772,621 -$720,214	$5,810,653
22	$10,818,714	-$3,963,255 -$756,228	$6,099,231
23	$11,359,482	-$4,163,339 -$794,028	$6,402,115
24	$11,927,598	-$4,373,542 -$833,739	$6,720,317
25	$12,523,836	-$4,594,150 -$875,416	$7,054,270
26	$13,150,260	-$4,825,927 -$919,203	$7,405,130
27	$13,807,644	-$5,069,159 -$965,154	$7,773,331
28	$14,498,052	-$5,324,610 -$1,013,414	$8,160,028
29	$15,223,032	-$5,592,852 -$1,064,090	$8,566,090
30	$15,984,132	-$5,874,459 -$1,117,291	$8,992,382