Jackpot Analysis Connecticut Powerball

Jackpot Analysis for Connecticut Powerball
The jackpot for the Powerball draw on Mon Jul 21, 2025, is projected to be $308 Million, with an option for a cash payout of $137.7 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 Mon Jul 21, 2025
Draw DateMon Jul 21, 2025
Projected Jackpot$308,000,000
Cash Value$137,700,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$137,700,000
Federal Tax(24%)$33,048,000
Additional Federal Tax$17,861,330
State Tax(6.99%)$9,625,230
Net Lumpsum Payment$77,165,440
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $4,635,708 $1,675,542
$324,036
$2,636,130
2 $4,867,632 $1,761,354
$340,247
$2,766,031
3 $5,110,952 $1,851,383
$357,256
$2,902,313
4 $5,366,592 $1,945,969
$375,125
$3,045,498
5 $5,634,860 $2,045,229
$393,877
$3,195,754
6 $5,916,680 $2,149,502
$413,576
$3,353,602
7 $6,212,360 $2,258,904
$434,244
$3,519,212
8 $6,523,132 $2,373,889
$455,967
$3,693,276
9 $6,849,304 $2,494,573
$478,766
$3,875,965
10 $7,191,800 $2,621,296
$502,707
$4,067,797
11 $7,551,236 $2,754,288
$527,831
$4,269,117
12 $7,928,844 $2,894,003
$554,226
$4,480,615
13 $8,325,240 $3,040,669
$581,934
$4,702,637
14 $8,741,656 $3,194,743
$611,042
$4,935,871
15 $9,178,708 $3,356,452
$641,592
$5,180,664
16 $9,637,628 $3,526,253
$673,670
$5,437,705
17 $10,119,340 $3,704,486
$707,342
$5,707,512
18 $10,625,384 $3,891,722
$742,714
$5,990,948
19 $11,156,684 $4,088,303
$779,852
$6,288,529
20 $11,714,472 $4,294,685
$818,842
$6,600,945
21 $12,300,288 $4,511,437
$859,790
$6,929,061
22 $12,915,364 $4,739,015
$902,784
$7,273,565
23 $13,560,932 $4,977,875
$947,909
$7,635,148
24 $14,239,148 $5,228,815
$995,316
$8,015,017
25 $14,950,936 $5,492,177
$1,045,070
$8,413,689
26 $15,698,760 $5,768,872
$1,097,343
$8,832,545
27 $16,483,544 $6,059,242
$1,152,200
$9,272,102
28 $17,307,752 $6,364,199
$1,209,812
$9,733,741
29 $18,173,232 $6,684,426
$1,270,309
$10,218,497
30 $19,081,832 $7,020,608
$1,333,820
$10,727,404