The jackpot for the Powerball draw on Sat Jan 10, 2026, is projected to be $124 Million, with an option for a cash payout of $56 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 Jan 10, 2026 |
|---|
| Draw Date | Sat Jan 10, 2026 | | Projected Jackpot | $124,000,000 | | Cash Value | $56,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $56,000,000 | | Federal Tax(24%) | $13,440,000 | | Additional Federal Tax | $7,240,330 | | State Tax(6.99%) | $3,914,400 | | Net Lumpsum Payment | $31,405,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,866,324 |
$650,870
$130,456 |
$1,084,998 |
| 2 |
$1,959,696 |
$685,418
$136,983 |
$1,137,295 |
| 3 |
$2,057,656 |
$721,663
$143,830 |
$1,192,163 |
| 4 |
$2,160,576 |
$759,744
$151,024 |
$1,249,808 |
| 5 |
$2,268,580 |
$799,705
$158,574 |
$1,310,301 |
| 6 |
$2,382,040 |
$841,685
$166,505 |
$1,373,850 |
| 7 |
$2,501,080 |
$885,730
$174,825 |
$1,440,525 |
| 8 |
$2,626,196 |
$932,023
$183,571 |
$1,510,602 |
| 9 |
$2,757,512 |
$980,610
$192,750 |
$1,584,152 |
| 10 |
$2,895,400 |
$1,031,628
$202,388 |
$1,661,384 |
| 11 |
$3,040,108 |
$1,085,170
$212,504 |
$1,742,434 |
| 12 |
$3,192,132 |
$1,141,419
$223,130 |
$1,827,583 |
| 13 |
$3,351,720 |
$1,200,467
$234,285 |
$1,916,968 |
| 14 |
$3,519,368 |
$1,262,497
$246,004 |
$2,010,867 |
| 15 |
$3,695,324 |
$1,327,600
$258,303 |
$2,109,421 |
| 16 |
$3,880,084 |
$1,395,961
$271,218 |
$2,212,905 |
| 17 |
$4,074,020 |
$1,467,718
$284,774 |
$2,321,528 |
| 18 |
$4,277,752 |
$1,543,099
$299,015 |
$2,435,638 |
| 19 |
$4,491,652 |
$1,622,242
$313,966 |
$2,555,444 |
| 20 |
$4,716,216 |
$1,705,330
$329,663 |
$2,681,223 |
| 21 |
$4,952,064 |
$1,792,594
$346,149 |
$2,813,321 |
| 22 |
$5,199,692 |
$1,884,216
$363,458 |
$2,952,018 |
| 23 |
$5,459,596 |
$1,980,381
$381,626 |
$3,097,589 |
| 24 |
$5,732,644 |
$2,081,409
$400,712 |
$3,250,523 |
| 25 |
$6,019,208 |
$2,187,437
$420,743 |
$3,411,028 |
| 26 |
$6,320,280 |
$2,298,834
$441,788 |
$3,579,658 |
| 27 |
$6,636,232 |
$2,415,736
$463,873 |
$3,756,623 |
| 28 |
$6,968,056 |
$2,538,511
$487,067 |
$3,942,478 |
| 29 |
$7,316,496 |
$2,667,434
$511,423 |
$4,137,639 |
| 30 |
$7,682,296 |
$2,802,780
$536,992 |
$4,342,524 |
|
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