Connecticut Lottery

CTLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Mar 23, 2026 is estimated to be $133 Million, with a cash option of 60.3 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 Mon Mar 23, 2026

Draw Date	Jackpot	Cash Option
Mon Mar 23, 2026	$133,000,000	$60,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$60,300,000
Federal Tax(24%)	$14,472,000
Additional Federal Tax	$7,799,330
State Tax(6.99%)	$4,214,970
Net Lumpsum Payment	$33,813,700

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,001,783	-$700,990 -$139,925	$1,160,868
2	$2,101,932	-$738,045 -$146,925	$1,216,962
3	$2,207,002	-$776,921 -$154,269	$1,275,812
4	$2,317,392	-$817,765 -$161,986	$1,337,641
5	$2,433,235	-$860,627 -$170,083	$1,402,525
6	$2,554,930	-$905,654 -$178,590	$1,470,686
7	$2,682,610	-$952,896 -$187,514	$1,542,200
8	$2,816,807	-$1,002,549 -$196,895	$1,617,363
9	$2,957,654	-$1,054,662 -$206,740	$1,696,252
10	$3,105,550	-$1,109,384 -$217,078	$1,779,088
11	$3,260,761	-$1,166,812 -$227,927	$1,866,022
12	$3,423,819	-$1,227,143 -$239,325	$1,957,351
13	$3,594,990	-$1,290,477 -$251,290	$2,053,223
14	$3,774,806	-$1,357,009 -$263,859	$2,153,938
15	$3,963,533	-$1,426,838 -$277,051	$2,259,644
16	$4,161,703	-$1,500,160 -$290,903	$2,370,640
17	$4,369,715	-$1,577,125 -$305,443	$2,487,147
18	$4,588,234	-$1,657,977 -$320,718	$2,609,539
19	$4,817,659	-$1,742,864 -$336,754	$2,738,041
20	$5,058,522	-$1,831,984 -$353,591	$2,872,947
21	$5,311,488	-$1,925,581 -$371,273	$3,014,634
22	$5,577,089	-$2,023,853 -$389,839	$3,163,397
23	$5,855,857	-$2,126,997 -$409,324	$3,319,536
24	$6,148,723	-$2,235,358 -$429,796	$3,483,569
25	$6,456,086	-$2,349,082 -$451,280	$3,655,724
26	$6,779,010	-$2,468,564 -$473,853	$3,836,593
27	$7,117,894	-$2,593,951 -$497,541	$4,026,402
28	$7,473,802	-$2,725,637 -$522,419	$4,225,746
29	$7,847,532	-$2,863,917 -$548,542	$4,435,073
30	$8,239,882	-$3,009,087 -$575,968	$4,654,827