Connecticut Lottery

CTLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Feb 25, 2026 is estimated to be $218 Million, with a cash option of 101.6 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 Feb 25, 2026

Draw Date	Jackpot	Cash Option
Wed Feb 25, 2026	$218,000,000	$101,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$101,600,000
Federal Tax(24%)	$24,384,000
Additional Federal Tax	$13,168,330
State Tax(6.99%)	$7,101,840
Net Lumpsum Payment	$56,945,830

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,281,118	-$1,174,344 -$229,350	$1,877,424
2	$3,445,272	-$1,235,081 -$240,825	$1,969,366
3	$3,617,492	-$1,298,802 -$252,863	$2,065,827
4	$3,798,432	-$1,365,750 -$265,510	$2,167,172
5	$3,988,310	-$1,436,005 -$278,783	$2,273,522
6	$4,187,780	-$1,509,809 -$292,726	$2,385,245
7	$4,397,060	-$1,587,243 -$307,354	$2,502,463
8	$4,617,022	-$1,668,629 -$322,730	$2,625,663
9	$4,847,884	-$1,754,047 -$338,867	$2,754,970
10	$5,090,300	-$1,843,741 -$355,812	$2,890,747
11	$5,344,706	-$1,937,872 -$373,595	$3,033,239
12	$5,611,974	-$2,036,761 -$392,277	$3,182,936
13	$5,892,540	-$2,140,570 -$411,889	$3,340,081
14	$6,187,276	-$2,249,623 -$432,491	$3,505,162
15	$6,496,618	-$2,364,079 -$454,114	$3,678,425
16	$6,821,438	-$2,484,262 -$476,819	$3,860,357
17	$7,162,390	-$2,610,415 -$500,651	$4,051,324
18	$7,520,564	-$2,742,939 -$525,687	$4,251,938
19	$7,896,614	-$2,882,078 -$551,973	$4,462,563
20	$8,291,412	-$3,028,153 -$579,570	$4,683,689
21	$8,706,048	-$3,181,568 -$608,553	$4,915,927
22	$9,141,394	-$3,342,646 -$638,983	$5,159,765
23	$9,598,322	-$3,511,710 -$670,923	$5,415,689
24	$10,078,358	-$3,689,323 -$704,477	$5,684,558
25	$10,582,156	-$3,875,728 -$739,693	$5,966,735
26	$11,111,460	-$4,071,571 -$776,691	$6,263,198
27	$11,666,924	-$4,277,092 -$815,518	$6,574,314
28	$12,250,292	-$4,492,938 -$856,295	$6,901,059
29	$12,862,872	-$4,719,593 -$899,115	$7,244,164
30	$13,505,972	-$4,957,540 -$944,067	$7,604,365