Connecticut Lottery

CTLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat May 30, 2026 is estimated to be $172 Million, with a cash option of 75.6 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 May 30, 2026

Draw Date	Jackpot	Cash Option
Sat May 30, 2026	$172,000,000	$75,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$75,600,000
Federal Tax(24%)	$18,144,000
Additional Federal Tax	$9,788,330
State Tax(6.99%)	$5,284,440
Net Lumpsum Payment	$42,383,230

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,588,772	-$918,176 -$180,955	$1,489,641
2	$2,718,288	-$966,097 -$190,008	$1,562,183
3	$2,854,168	-$1,016,373 -$199,506	$1,638,289
4	$2,996,928	-$1,069,194 -$209,485	$1,718,249
5	$3,146,740	-$1,124,624 -$219,957	$1,802,159
6	$3,304,120	-$1,182,855 -$230,958	$1,890,307
7	$3,469,240	-$1,243,949 -$242,500	$1,982,791
8	$3,642,788	-$1,308,162 -$254,631	$2,079,995
9	$3,824,936	-$1,375,557 -$267,363	$2,182,016
10	$4,016,200	-$1,446,324 -$280,732	$2,289,144
11	$4,216,924	-$1,520,592 -$294,763	$2,401,569
12	$4,427,796	-$1,598,615 -$309,503	$2,519,678
13	$4,649,160	-$1,680,520 -$324,976	$2,643,664
14	$4,881,704	-$1,766,561 -$341,231	$2,773,912
15	$5,125,772	-$1,856,866 -$358,291	$2,910,615
16	$5,382,052	-$1,951,690 -$376,205	$3,054,157
17	$5,651,060	-$2,051,223 -$395,009	$3,204,828
18	$5,933,656	-$2,155,783 -$414,763	$3,363,110
19	$6,230,356	-$2,265,562 -$435,502	$3,529,292
20	$6,541,848	-$2,380,814 -$457,275	$3,703,759
21	$6,868,992	-$2,501,857 -$480,143	$3,886,992
22	$7,212,476	-$2,628,947 -$504,152	$4,079,377
23	$7,572,988	-$2,762,336 -$529,352	$4,281,300
24	$7,951,732	-$2,902,471 -$555,826	$4,493,435
25	$8,349,224	-$3,049,543 -$583,611	$4,716,070
26	$8,766,840	-$3,204,061 -$612,802	$4,949,977
27	$9,205,096	-$3,366,216 -$643,436	$5,195,444
28	$9,665,368	-$3,536,517 -$675,609	$5,453,242
29	$10,148,688	-$3,715,345 -$709,393	$5,723,950
30	$10,656,088	-$3,903,083 -$744,861	$6,008,144