The jackpot for the Powerball draw on Sat Apr 19, 2025, is projected to be $131 Million, with an option for a cash payout of $58.6 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 Sat Apr 19, 2025 |
|---|
| Draw Date | Sat Apr 19, 2025 | | Projected Jackpot | $131,000,000 | | Cash Value | $58,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $58,600,000 | | Federal Tax(24%) | $14,064,000 | | Additional Federal Tax | $7,578,330 | | State Tax(6.99%) | $4,096,140 | | Net Lumpsum Payment | $32,861,530 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,971,681 |
$689,852
$137,821 |
$1,144,008 |
| 2 |
$2,070,324 |
$726,350
$144,716 |
$1,199,258 |
| 3 |
$2,173,814 |
$764,642
$151,950 |
$1,257,222 |
| 4 |
$2,282,544 |
$804,872
$159,550 |
$1,318,122 |
| 5 |
$2,396,645 |
$847,089
$167,525 |
$1,382,031 |
| 6 |
$2,516,510 |
$891,439
$175,904 |
$1,449,167 |
| 7 |
$2,642,270 |
$937,970
$184,695 |
$1,519,605 |
| 8 |
$2,774,449 |
$986,877
$193,934 |
$1,593,638 |
| 9 |
$2,913,178 |
$1,038,206
$203,631 |
$1,671,341 |
| 10 |
$3,058,850 |
$1,092,105
$213,814 |
$1,752,931 |
| 11 |
$3,211,727 |
$1,148,669
$224,500 |
$1,838,558 |
| 12 |
$3,372,333 |
$1,208,094
$235,726 |
$1,928,513 |
| 13 |
$3,540,930 |
$1,270,474
$247,511 |
$2,022,945 |
| 14 |
$3,718,042 |
$1,336,006
$259,891 |
$2,122,145 |
| 15 |
$3,903,931 |
$1,404,785
$272,885 |
$2,226,261 |
| 16 |
$4,099,121 |
$1,477,005
$286,529 |
$2,335,587 |
| 17 |
$4,304,005 |
$1,552,812
$300,850 |
$2,450,343 |
| 18 |
$4,519,238 |
$1,632,448
$315,895 |
$2,570,895 |
| 19 |
$4,745,213 |
$1,716,059
$331,690 |
$2,697,464 |
| 20 |
$4,982,454 |
$1,803,838
$348,274 |
$2,830,342 |
| 21 |
$5,231,616 |
$1,896,028
$365,690 |
$2,969,898 |
| 22 |
$5,493,223 |
$1,992,823
$383,976 |
$3,116,424 |
| 23 |
$5,767,799 |
$2,094,416
$403,169 |
$3,270,214 |
| 24 |
$6,056,261 |
$2,201,147
$423,333 |
$3,431,781 |
| 25 |
$6,359,002 |
$2,313,161
$444,494 |
$3,601,347 |
| 26 |
$6,677,070 |
$2,430,846
$466,727 |
$3,779,497 |
| 27 |
$7,010,858 |
$2,554,348
$490,059 |
$3,966,451 |
| 28 |
$7,361,414 |
$2,684,054
$514,563 |
$4,162,797 |
| 29 |
$7,729,524 |
$2,820,254
$540,294 |
$4,368,976 |
| 30 |
$8,115,974 |
$2,963,241
$567,307 |
$4,585,426 |
|
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