Connecticut Lottery

CTLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Jun 15, 2026 is estimated to be $269 Million, with a cash option of 120.5 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 Jun 15, 2026

Draw Date	Jackpot	Cash Option
Mon Jun 15, 2026	$269,000,000	$120,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$120,500,000
Federal Tax(24%)	$28,920,000
Additional Federal Tax	$15,625,330
State Tax(6.99%)	$8,422,950
Net Lumpsum Payment	$67,531,720

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,048,719	-$1,458,356 -$283,005	$2,307,358
2	$4,251,276	-$1,533,303 -$297,164	$2,420,809
3	$4,463,786	-$1,611,931 -$312,019	$2,539,836
4	$4,687,056	-$1,694,541 -$327,625	$2,664,890
5	$4,921,355	-$1,781,232 -$344,003	$2,796,120
6	$5,167,490	-$1,872,302 -$361,208	$2,933,980
7	$5,425,730	-$1,967,850 -$379,259	$3,078,621
8	$5,697,151	-$2,068,276 -$398,231	$3,230,644
9	$5,982,022	-$2,173,679 -$418,143	$3,390,200
10	$6,281,150	-$2,284,356 -$439,052	$3,557,742
11	$6,595,073	-$2,400,507 -$460,996	$3,733,570
12	$6,924,867	-$2,522,531 -$484,048	$3,918,288
13	$7,271,070	-$2,650,626 -$508,248	$4,112,196
14	$7,634,758	-$2,785,191 -$533,670	$4,315,897
15	$8,016,469	-$2,926,424 -$560,351	$4,529,694
16	$8,417,279	-$3,074,724 -$588,368	$4,754,187
17	$8,837,995	-$3,230,389 -$617,776	$4,989,830
18	$9,279,962	-$3,393,916 -$648,669	$5,237,377
19	$9,743,987	-$3,565,606 -$681,105	$5,497,276
20	$10,231,146	-$3,745,854 -$715,157	$5,770,135
21	$10,742,784	-$3,935,160 -$750,921	$6,056,703
22	$11,279,977	-$4,133,922 -$788,470	$6,357,585
23	$11,843,801	-$4,342,537 -$827,882	$6,673,382
24	$12,436,139	-$4,561,702 -$869,286	$7,005,151
25	$13,057,798	-$4,791,716 -$912,740	$7,353,342
26	$13,710,930	-$5,033,374 -$958,394	$7,719,162
27	$14,396,342	-$5,286,977 -$1,006,304	$8,103,061
28	$15,116,186	-$5,553,319 -$1,056,621	$8,506,246
29	$15,872,076	-$5,832,999 -$1,109,458	$8,929,619
30	$16,665,626	-$6,126,612 -$1,164,927	$9,374,087