The jackpot for the Powerball draw on Wed Aug 13, 2025, is projected to be $526 Million, with an option for a cash payout of $241 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Connecticut residents, the state will deduct 6.99% from your lottery earnings.
| Connecticut Powerball Jackpot/Cash Option for Wed Aug 13, 2025 |
|---|
| Draw Date | Wed Aug 13, 2025 | | Projected Jackpot | $526,000,000 | | Cash Value | $241,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $241,000,000 | | Federal Tax(24%) | $57,840,000 | | Additional Federal Tax | $31,290,330 | | State Tax(6.99%) | $16,845,900 | | Net Lumpsum Payment | $135,023,770 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,916,826 |
$2,889,556
$553,386 |
$4,473,884 |
| 2 |
$8,312,904 |
$3,036,105
$581,072 |
$4,695,727 |
| 3 |
$8,728,444 |
$3,189,855
$610,118 |
$4,928,471 |
| 4 |
$9,165,024 |
$3,351,389
$640,635 |
$5,173,000 |
| 5 |
$9,623,170 |
$3,520,903
$672,660 |
$5,429,607 |
| 6 |
$10,104,460 |
$3,698,981
$706,302 |
$5,699,177 |
| 7 |
$10,609,420 |
$3,885,816
$741,598 |
$5,982,006 |
| 8 |
$11,140,154 |
$4,082,187
$778,697 |
$6,279,270 |
| 9 |
$11,697,188 |
$4,288,290
$817,633 |
$6,591,265 |
| 10 |
$12,282,100 |
$4,504,707
$858,519 |
$6,918,874 |
| 11 |
$12,895,942 |
$4,731,829
$901,426 |
$7,262,687 |
| 12 |
$13,540,818 |
$4,970,433
$946,503 |
$7,623,882 |
| 13 |
$14,217,780 |
$5,220,909
$993,823 |
$8,003,048 |
| 14 |
$14,928,932 |
$5,484,035
$1,043,532 |
$8,401,365 |
| 15 |
$15,675,326 |
$5,760,201
$1,095,705 |
$8,819,420 |
| 16 |
$16,459,066 |
$6,050,185
$1,150,489 |
$9,258,392 |
| 17 |
$17,281,730 |
$6,354,570
$1,207,993 |
$9,719,167 |
| 18 |
$18,145,948 |
$6,674,331
$1,268,402 |
$10,203,215 |
| 19 |
$19,053,298 |
$7,010,051
$1,331,826 |
$10,711,421 |
| 20 |
$20,005,884 |
$7,362,507
$1,398,411 |
$11,244,966 |
| 21 |
$21,006,336 |
$7,732,675
$1,468,343 |
$11,805,318 |
| 22 |
$22,056,758 |
$8,121,331
$1,541,767 |
$12,393,660 |
| 23 |
$23,159,254 |
$8,529,254
$1,618,832 |
$13,011,168 |
| 24 |
$24,317,506 |
$8,957,808
$1,699,794 |
$13,659,904 |
| 25 |
$25,533,092 |
$9,407,574
$1,784,763 |
$14,340,755 |
| 26 |
$26,810,220 |
$9,880,112
$1,874,034 |
$15,056,074 |
| 27 |
$28,150,468 |
$10,376,004
$1,967,718 |
$15,806,746 |
| 28 |
$29,558,044 |
$10,896,807
$2,066,107 |
$16,595,130 |
| 29 |
$31,036,104 |
$11,443,689
$2,169,424 |
$17,422,991 |
| 30 |
$32,587,804 |
$12,017,818
$2,277,887 |
$18,292,099 |
|
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