Connecticut Lottery

CTLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Jun 16, 2025 is estimated to be $90 Million, with a cash option of 40.7 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 Jun 16, 2025

Draw Date	Jackpot	Cash Option
Mon Jun 16, 2025	$90,000,000	$40,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$40,700,000
Federal Tax(24%)	$9,768,000
Additional Federal Tax	$5,251,330
State Tax(6.99%)	$2,844,930
Net Lumpsum Payment	$22,835,740

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,354,590	-$461,529 -$94,686	$798,375
2	$1,422,360	-$486,604 -$99,423	$836,333
3	$1,493,460	-$512,911 -$104,393	$876,156
4	$1,568,160	-$540,550 -$109,614	$917,996
5	$1,646,550	-$569,554 -$115,094	$961,902
6	$1,728,900	-$600,023 -$120,850	$1,008,027
7	$1,815,300	-$631,991 -$126,889	$1,056,420
8	$1,906,110	-$665,591 -$133,237	$1,107,282
9	$2,001,420	-$700,856 -$139,899	$1,160,665
10	$2,101,500	-$737,885 -$146,895	$1,216,720
11	$2,206,530	-$776,746 -$154,236	$1,275,548
12	$2,316,870	-$817,572 -$161,949	$1,337,349
13	$2,432,700	-$860,429 -$170,046	$1,402,225
14	$2,554,380	-$905,451 -$178,551	$1,470,378
15	$2,682,090	-$952,704 -$187,478	$1,541,908
16	$2,816,190	-$1,002,321 -$196,852	$1,617,017
17	$2,956,950	-$1,054,402 -$206,691	$1,695,857
18	$3,104,820	-$1,109,114 -$217,027	$1,778,679
19	$3,260,070	-$1,166,556 -$227,879	$1,865,635
20	$3,423,060	-$1,226,863 -$239,272	$1,956,925
21	$3,594,240	-$1,290,199 -$251,237	$2,052,804
22	$3,773,970	-$1,356,699 -$263,801	$2,153,470
23	$3,962,610	-$1,426,496 -$276,986	$2,259,128
24	$4,160,790	-$1,499,823 -$290,839	$2,370,128
25	$4,368,780	-$1,576,779 -$305,378	$2,486,623
26	$4,587,300	-$1,657,631 -$320,652	$2,609,017
27	$4,816,620	-$1,742,480 -$336,682	$2,737,458
28	$5,057,460	-$1,831,591 -$353,516	$2,872,353
29	$5,310,360	-$1,925,164 -$371,194	$3,014,002
30	$5,575,860	-$2,023,399 -$389,753	$3,162,708