Connecticut Lottery

CTLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Jul 13, 2026 is estimated to be $478 Million, with a cash option of 212.2 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 Jul 13, 2026

Draw Date	Jackpot	Cash Option
Mon Jul 13, 2026	$478,000,000	$212,200,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$212,200,000
Federal Tax(24%)	$50,928,000
Additional Federal Tax	$27,546,330
State Tax(6.99%)	$14,832,780
Net Lumpsum Payment	$118,892,890

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$7,194,378	-$2,622,250 -$502,887	$4,069,241
2	$7,554,312	-$2,755,426 -$528,046	$4,270,840
3	$7,931,932	-$2,895,145 -$554,442	$4,482,345
4	$8,328,672	-$3,041,939 -$582,174	$4,704,559
5	$8,745,010	-$3,195,984 -$611,276	$4,937,750
6	$9,182,380	-$3,357,811 -$641,848	$5,182,721
7	$9,641,260	-$3,527,597 -$673,924	$5,439,739
8	$10,123,562	-$3,706,048 -$707,637	$5,709,877
9	$10,629,764	-$3,893,343 -$743,021	$5,993,400
10	$11,161,300	-$4,090,011 -$780,175	$6,291,114
11	$11,719,126	-$4,296,407 -$819,167	$6,603,552
12	$12,305,154	-$4,513,237 -$860,130	$6,931,787
13	$12,920,340	-$4,740,856 -$903,132	$7,276,352
14	$13,566,596	-$4,979,971 -$948,305	$7,638,320
15	$14,244,878	-$5,230,935 -$995,717	$8,018,226
16	$14,957,098	-$5,494,457 -$1,045,501	$8,417,140
17	$15,704,690	-$5,771,066 -$1,097,758	$8,835,866
18	$16,490,044	-$6,061,647 -$1,152,654	$9,275,743
19	$17,314,594	-$6,366,730 -$1,210,290	$9,737,574
20	$18,180,252	-$6,687,024 -$1,270,800	$10,222,428
21	$19,089,408	-$7,023,411 -$1,334,350	$10,731,647
22	$20,043,974	-$7,376,601 -$1,401,074	$11,266,299
23	$21,045,862	-$7,747,299 -$1,471,106	$11,827,457
24	$22,098,418	-$8,136,745 -$1,544,679	$12,416,994
25	$23,203,076	-$8,545,469 -$1,621,895	$13,035,712
26	$24,363,660	-$8,974,885 -$1,703,020	$13,685,755
27	$25,581,604	-$9,425,524 -$1,788,154	$14,367,926
28	$26,860,732	-$9,898,801 -$1,877,565	$15,084,366
29	$28,203,912	-$10,395,778 -$1,971,453	$15,836,681
30	$29,614,012	-$10,917,515 -$2,070,019	$16,626,478