Connecticut Lottery

CTLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Jan 5, 2026 is estimated to be $86 Million, with a cash option of 38.8 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 Jan 5, 2026

Draw Date	Jackpot	Cash Option
Mon Jan 5, 2026	$86,000,000	$38,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$38,800,000
Federal Tax(24%)	$9,312,000
Additional Federal Tax	$5,004,330
State Tax(6.99%)	$2,712,120
Net Lumpsum Payment	$21,771,550

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,294,386	-$439,253 -$90,478	$764,655
2	$1,359,144	-$463,214 -$95,004	$800,926
3	$1,427,084	-$488,351 -$99,753	$838,980
4	$1,498,464	-$514,762 -$104,743	$878,959
5	$1,573,370	-$542,477 -$109,979	$920,914
6	$1,652,060	-$571,593 -$115,479	$964,988
7	$1,734,620	-$602,140 -$121,250	$1,011,230
8	$1,821,394	-$634,246 -$127,315	$1,059,833
9	$1,912,468	-$667,944 -$133,682	$1,110,842
10	$2,008,100	-$703,327 -$140,366	$1,164,407
11	$2,108,462	-$740,461 -$147,381	$1,220,620
12	$2,213,898	-$779,473 -$154,751	$1,279,674
13	$2,324,580	-$820,425 -$162,488	$1,341,667
14	$2,440,852	-$863,446 -$170,616	$1,406,790
15	$2,562,886	-$908,598 -$179,146	$1,475,142
16	$2,691,026	-$956,010 -$188,103	$1,546,913
17	$2,825,530	-$1,005,776 -$197,505	$1,622,249
18	$2,966,828	-$1,058,057 -$207,381	$1,701,390
19	$3,115,178	-$1,112,946 -$217,751	$1,784,481
20	$3,270,924	-$1,170,572 -$228,638	$1,871,714
21	$3,434,496	-$1,231,094 -$240,071	$1,963,331
22	$3,606,238	-$1,294,638 -$252,076	$2,059,524
23	$3,786,494	-$1,361,333 -$264,676	$2,160,485
24	$3,975,866	-$1,431,401 -$277,913	$2,266,552
25	$4,174,612	-$1,504,937 -$291,805	$2,377,870
26	$4,383,420	-$1,582,196 -$306,401	$2,494,823
27	$4,602,548	-$1,663,273 -$321,718	$2,617,557
28	$4,832,684	-$1,748,423 -$337,805	$2,746,456
29	$5,074,344	-$1,837,838 -$354,697	$2,881,809
30	$5,328,044	-$1,931,707 -$372,430	$3,023,907