Connecticut Lottery

CTLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Apr 20, 2026 is estimated to be $87 Million, with a cash option of 39.7 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 Apr 20, 2026

Draw Date	Jackpot	Cash Option
Mon Apr 20, 2026	$87,000,000	$39,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$39,700,000
Federal Tax(24%)	$9,528,000
Additional Federal Tax	$5,121,330
State Tax(6.99%)	$2,775,030
Net Lumpsum Payment	$22,275,640

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,309,437	-$444,822 -$91,530	$773,085
2	$1,374,948	-$469,061 -$96,109	$809,778
3	$1,443,678	-$494,491 -$100,913	$848,274
4	$1,515,888	-$521,209 -$105,961	$888,718
5	$1,591,665	-$549,246 -$111,257	$931,162
6	$1,671,270	-$578,700 -$116,822	$975,748
7	$1,754,790	-$609,603 -$122,660	$1,022,527
8	$1,842,573	-$642,082 -$128,796	$1,071,695
9	$1,934,706	-$676,172 -$135,236	$1,123,298
10	$2,031,450	-$711,967 -$141,998	$1,177,485
11	$2,132,979	-$749,533 -$149,095	$1,234,351
12	$2,239,641	-$788,998 -$156,551	$1,294,092
13	$2,351,610	-$830,426 -$164,378	$1,356,806
14	$2,469,234	-$873,947 -$172,599	$1,422,688
15	$2,592,687	-$919,625 -$181,229	$1,491,833
16	$2,722,317	-$967,588 -$190,290	$1,564,439
17	$2,858,385	-$1,017,933 -$199,801	$1,640,651
18	$3,001,326	-$1,070,821 -$209,793	$1,720,712
19	$3,151,401	-$1,126,349 -$220,283	$1,804,769
20	$3,308,958	-$1,184,645 -$231,296	$1,893,017
21	$3,474,432	-$1,245,870 -$242,863	$1,985,699
22	$3,648,171	-$1,310,154 -$255,007	$2,083,010
23	$3,830,523	-$1,377,624 -$267,754	$2,185,145
24	$4,022,097	-$1,448,506 -$281,145	$2,292,446
25	$4,223,154	-$1,522,897 -$295,198	$2,405,059
26	$4,434,390	-$1,601,055 -$309,964	$2,523,371
27	$4,656,066	-$1,683,075 -$325,459	$2,647,532
28	$4,888,878	-$1,769,215 -$341,733	$2,777,930
29	$5,133,348	-$1,859,669 -$358,821	$2,914,858
30	$5,389,998	-$1,954,630 -$376,761	$3,058,607