The jackpot for the Powerball draw on Sat Nov 30, 2024, is projected to be $214 Million, with an option for a cash payout of $99 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 Nov 30, 2024 |
|---|
| Draw Date | Sat Nov 30, 2024 | | Projected Jackpot | $214,000,000 | | Cash Value | $99,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $99,000,000 | | Federal Tax(24%) | $23,760,000 | | Additional Federal Tax | $12,830,330 | | State Tax(6.99%) | $6,920,100 | | Net Lumpsum Payment | $55,489,570 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,220,914 |
$1,152,069
$225,142 |
$1,843,703 |
| 2 |
$3,382,056 |
$1,211,691
$236,406 |
$1,933,959 |
| 3 |
$3,551,116 |
$1,274,243
$248,223 |
$2,028,650 |
| 4 |
$3,728,736 |
$1,339,963
$260,639 |
$2,128,134 |
| 5 |
$3,915,130 |
$1,408,928
$273,668 |
$2,232,534 |
| 6 |
$4,110,940 |
$1,481,378
$287,355 |
$2,342,207 |
| 7 |
$4,316,380 |
$1,557,391
$301,715 |
$2,457,274 |
| 8 |
$4,532,306 |
$1,637,284
$316,808 |
$2,578,214 |
| 9 |
$4,758,932 |
$1,721,135
$332,649 |
$2,705,148 |
| 10 |
$4,996,900 |
$1,809,183
$349,283 |
$2,838,434 |
| 11 |
$5,246,638 |
$1,901,586
$366,740 |
$2,978,312 |
| 12 |
$5,509,002 |
$1,998,661
$385,079 |
$3,125,262 |
| 13 |
$5,784,420 |
$2,100,566
$404,331 |
$3,279,523 |
| 14 |
$6,073,748 |
$2,207,617
$424,555 |
$3,441,576 |
| 15 |
$6,377,414 |
$2,319,974
$445,781 |
$3,611,659 |
| 16 |
$6,696,274 |
$2,437,952
$468,070 |
$3,790,252 |
| 17 |
$7,030,970 |
$2,561,789
$491,465 |
$3,977,716 |
| 18 |
$7,382,572 |
$2,691,882
$516,042 |
$4,174,648 |
| 19 |
$7,751,722 |
$2,828,468
$541,845 |
$4,381,409 |
| 20 |
$8,139,276 |
$2,971,863
$568,935 |
$4,598,478 |
| 21 |
$8,546,304 |
$3,122,463
$597,387 |
$4,826,454 |
| 22 |
$8,973,662 |
$3,280,585
$627,259 |
$5,065,818 |
| 23 |
$9,422,206 |
$3,446,547
$658,612 |
$5,317,047 |
| 24 |
$9,893,434 |
$3,620,901
$691,551 |
$5,580,982 |
| 25 |
$10,387,988 |
$3,803,886
$726,120 |
$5,857,982 |
| 26 |
$10,907,580 |
$3,996,135
$762,440 |
$6,149,005 |
| 27 |
$11,452,852 |
$4,197,886
$800,554 |
$6,454,412 |
| 28 |
$12,025,516 |
$4,409,771
$840,584 |
$6,775,161 |
| 29 |
$12,626,856 |
$4,632,267
$882,617 |
$7,111,972 |
| 30 |
$13,258,156 |
$4,865,848
$926,745 |
$7,465,563 |
|
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