The jackpot for the Powerball draw on Wed Jul 22, 2026, is projected to be $567 Million, with an option for a cash payout of $251.8 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 Jul 22, 2026 |
|---|
| Draw Date | Wed Jul 22, 2026 | | Projected Jackpot | $567,000,000 | | Cash Value | $251,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $251,800,000 | | Federal Tax(24%) | $60,432,000 | | Additional Federal Tax | $32,694,330 | | State Tax(6.99%) | $17,600,820 | | Net Lumpsum Payment | $141,072,850 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,533,917 |
$3,117,880
$596,521 |
$4,819,516 |
| 2 |
$8,960,868 |
$3,275,852
$626,365 |
$5,058,651 |
| 3 |
$9,408,798 |
$3,441,586
$657,675 |
$5,309,537 |
| 4 |
$9,879,408 |
$3,615,711
$690,571 |
$5,573,126 |
| 5 |
$10,373,265 |
$3,798,438
$725,091 |
$5,849,736 |
| 6 |
$10,892,070 |
$3,990,396
$761,356 |
$6,140,318 |
| 7 |
$11,436,390 |
$4,191,795
$799,404 |
$6,445,191 |
| 8 |
$12,008,493 |
$4,403,473
$839,394 |
$6,765,626 |
| 9 |
$12,608,946 |
$4,625,640
$881,365 |
$7,101,941 |
| 10 |
$13,239,450 |
$4,858,927
$925,438 |
$7,455,085 |
| 11 |
$13,901,139 |
$5,103,752
$971,690 |
$7,825,697 |
| 12 |
$14,596,281 |
$5,360,954
$1,020,280 |
$8,215,047 |
| 13 |
$15,326,010 |
$5,630,954
$1,071,288 |
$8,623,768 |
| 14 |
$16,092,594 |
$5,914,590
$1,124,872 |
$9,053,132 |
| 15 |
$16,897,167 |
$6,212,282
$1,181,112 |
$9,503,773 |
| 16 |
$17,741,997 |
$6,524,869
$1,240,166 |
$9,976,962 |
| 17 |
$18,628,785 |
$6,852,981
$1,302,152 |
$10,473,652 |
| 18 |
$19,560,366 |
$7,197,666
$1,367,270 |
$10,995,430 |
| 19 |
$20,538,441 |
$7,559,554
$1,435,637 |
$11,543,250 |
| 20 |
$21,565,278 |
$7,939,483
$1,507,413 |
$12,118,382 |
| 21 |
$22,643,712 |
$8,338,504
$1,582,795 |
$12,722,413 |
| 22 |
$23,776,011 |
$8,757,454
$1,661,943 |
$13,356,614 |
| 23 |
$24,964,443 |
$9,197,174
$1,745,015 |
$14,022,254 |
| 24 |
$26,212,977 |
$9,659,132
$1,832,287 |
$14,721,558 |
| 25 |
$27,523,314 |
$10,143,957
$1,923,880 |
$15,455,477 |
| 26 |
$28,899,990 |
$10,653,327
$2,020,109 |
$16,226,554 |
| 27 |
$30,344,706 |
$11,187,872
$2,121,095 |
$17,035,739 |
| 28 |
$31,861,998 |
$11,749,270
$2,227,154 |
$17,885,574 |
| 29 |
$33,455,268 |
$12,338,780
$2,338,523 |
$18,777,965 |
| 30 |
$35,127,918 |
$12,957,660
$2,455,441 |
$19,714,817 |
|
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