Connecticut Lottery

CTLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Jan 7, 2026 is estimated to be $105 Million, with a cash option of 47.4 Million. If you win the Powerball jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Connecticut, your state will take 6.99% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Connecticut Powerball Jackpot/Cash Option for Wed Jan 7, 2026

Draw Date	Jackpot	Cash Option
Wed Jan 7, 2026	$105,000,000	$47,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$47,400,000
Federal Tax(24%)	$11,376,000
Additional Federal Tax	$6,122,330
State Tax(6.99%)	$3,313,260
Net Lumpsum Payment	$26,588,410

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,580,355	-$545,062 -$110,467	$924,826
2	$1,659,420	-$574,316 -$115,993	$969,111
3	$1,742,370	-$605,007 -$121,792	$1,015,571
4	$1,829,520	-$637,253 -$127,883	$1,064,384
5	$1,920,975	-$671,091 -$134,276	$1,115,608
6	$2,017,050	-$706,639 -$140,992	$1,169,419
7	$2,117,850	-$743,935 -$148,038	$1,225,877
8	$2,223,795	-$783,135 -$155,443	$1,285,217
9	$2,334,990	-$824,277 -$163,216	$1,347,497
10	$2,451,750	-$867,478 -$171,377	$1,412,895
11	$2,574,285	-$912,816 -$179,943	$1,481,526
12	$2,703,015	-$960,446 -$188,941	$1,553,628
13	$2,838,150	-$1,010,446 -$198,387	$1,629,317
14	$2,980,110	-$1,062,971 -$208,310	$1,708,829
15	$3,129,105	-$1,118,099 -$218,724	$1,792,282
16	$3,285,555	-$1,175,986 -$229,660	$1,879,909
17	$3,449,775	-$1,236,747 -$241,139	$1,971,889
18	$3,622,290	-$1,300,578 -$253,198	$2,068,514
19	$3,803,415	-$1,367,594 -$265,859	$2,169,962
20	$3,993,570	-$1,437,951 -$279,151	$2,276,468
21	$4,193,280	-$1,511,844 -$293,110	$2,388,326
22	$4,402,965	-$1,589,427 -$307,767	$2,505,771
23	$4,623,045	-$1,670,857 -$323,151	$2,629,037
24	$4,854,255	-$1,756,405 -$339,312	$2,758,538
25	$5,096,910	-$1,846,187 -$356,274	$2,894,449
26	$5,351,850	-$1,940,515 -$374,094	$3,037,241
27	$5,619,390	-$2,039,505 -$392,795	$3,187,090
28	$5,900,370	-$2,143,467 -$412,436	$3,344,467
29	$6,195,420	-$2,252,636 -$433,060	$3,509,724
30	$6,505,170	-$2,367,243 -$454,711	$3,683,216