The jackpot for the Powerball draw on Wed Nov 4, 2026, is projected to be $835 Million, with an option for a cash payout of $357.9 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 Nov 4, 2026 |
|---|
| Draw Date | Wed Nov 4, 2026 | | Projected Jackpot | $835,000,000 | | Cash Value | $357,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $357,900,000 | | Federal Tax(24%) | $85,896,000 | | Additional Federal Tax | $46,487,330 | | State Tax(6.99%) | $25,017,210 | | Net Lumpsum Payment | $200,499,460 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$12,567,585 |
$4,610,337
$878,474 |
$7,078,774 |
| 2 |
$13,196,340 |
$4,842,976
$922,424 |
$7,430,940 |
| 3 |
$13,855,990 |
$5,087,047
$968,534 |
$7,800,409 |
| 4 |
$14,549,040 |
$5,343,475
$1,016,978 |
$8,188,587 |
| 5 |
$15,276,325 |
$5,612,571
$1,067,815 |
$8,595,939 |
| 6 |
$16,040,350 |
$5,895,260
$1,121,220 |
$9,023,870 |
| 7 |
$16,841,950 |
$6,191,852
$1,177,252 |
$9,472,846 |
| 8 |
$17,684,465 |
$6,503,582
$1,236,144 |
$9,944,739 |
| 9 |
$18,568,730 |
$6,830,760
$1,297,954 |
$10,440,016 |
| 10 |
$19,497,250 |
$7,174,313
$1,362,858 |
$10,960,079 |
| 11 |
$20,471,695 |
$7,534,858
$1,430,971 |
$11,505,866 |
| 12 |
$21,495,405 |
$7,913,630
$1,502,529 |
$12,079,246 |
| 13 |
$22,570,050 |
$8,311,249
$1,577,646 |
$12,681,155 |
| 14 |
$23,698,970 |
$8,728,949
$1,656,558 |
$13,313,463 |
| 15 |
$24,883,835 |
$9,167,349
$1,739,380 |
$13,977,106 |
| 16 |
$26,127,985 |
$9,627,685
$1,826,346 |
$14,673,954 |
| 17 |
$27,433,925 |
$10,110,883
$1,917,631 |
$15,405,411 |
| 18 |
$28,805,830 |
$10,618,487
$2,013,528 |
$16,173,815 |
| 19 |
$30,246,205 |
$11,151,426
$2,114,210 |
$16,980,569 |
| 20 |
$31,758,390 |
$11,710,935
$2,219,911 |
$17,827,544 |
| 21 |
$33,346,560 |
$12,298,558
$2,330,925 |
$18,717,077 |
| 22 |
$35,014,055 |
$12,915,531
$2,447,482 |
$19,651,042 |
| 23 |
$36,764,215 |
$13,563,090
$2,569,819 |
$20,631,306 |
| 24 |
$38,602,885 |
$14,243,398
$2,698,342 |
$21,661,145 |
| 25 |
$40,532,570 |
$14,957,381
$2,833,227 |
$22,741,962 |
| 26 |
$42,559,950 |
$15,707,512
$2,974,941 |
$23,877,497 |
| 27 |
$44,687,530 |
$16,494,716
$3,123,658 |
$25,069,156 |
| 28 |
$46,921,990 |
$17,321,467
$3,279,847 |
$26,320,676 |
| 29 |
$49,268,340 |
$18,189,616
$3,443,857 |
$27,634,867 |
| 30 |
$51,731,590 |
$19,101,019
$3,616,038 |
$29,014,533 |
|
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