Connecticut Lottery

CTLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Sep 1, 2025 is estimated to be $1.10 Billion, with a cash option of 498.4 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 Mon Sep 1, 2025

Draw Date	Jackpot	Cash Option
Mon Sep 1, 2025	$1,100,000,000	$498,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$498,400,000
Federal Tax(24%)	$119,616,000
Additional Federal Tax	$64,752,330
State Tax(6.99%)	$34,838,160
Net Lumpsum Payment	$279,193,510

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$16,556,100	-$6,086,087 -$1,157,271	$9,312,742
2	$17,384,400	-$6,392,558 -$1,215,170	$9,776,672
3	$18,253,400	-$6,714,088 -$1,275,913	$10,263,399
4	$19,166,400	-$7,051,898 -$1,339,731	$10,774,771
5	$20,124,500	-$7,406,395 -$1,406,703	$11,311,402
6	$21,131,000	-$7,778,800 -$1,477,057	$11,875,143
7	$22,187,000	-$8,169,520 -$1,550,871	$12,466,609
8	$23,296,900	-$8,580,183 -$1,628,453	$13,088,264
9	$24,461,800	-$9,011,196 -$1,709,880	$13,740,724
10	$25,685,000	-$9,463,780 -$1,795,382	$14,425,838
11	$26,968,700	-$9,938,749 -$1,885,112	$15,144,839
12	$28,317,300	-$10,437,731 -$1,979,379	$15,900,190
13	$29,733,000	-$10,961,540 -$2,078,337	$16,693,123
14	$31,220,200	-$11,511,804 -$2,182,292	$17,526,104
15	$32,781,100	-$12,089,337 -$2,291,399	$18,400,364
16	$34,420,100	-$12,695,767 -$2,405,965	$19,318,368
17	$36,140,500	-$13,332,315 -$2,526,221	$20,281,964
18	$37,947,800	-$14,001,016 -$2,652,551	$21,294,233
19	$39,845,300	-$14,703,091 -$2,785,186	$22,357,023
20	$41,837,400	-$15,440,168 -$2,924,434	$23,472,798
21	$43,929,600	-$16,214,282 -$3,070,679	$24,644,639
22	$46,126,300	-$17,027,061 -$3,224,228	$25,875,011
23	$48,431,900	-$17,880,133 -$3,385,390	$27,166,377
24	$50,854,100	-$18,776,347 -$3,554,702	$28,523,051
25	$53,396,200	-$19,716,924 -$3,732,394	$29,946,882
26	$56,067,000	-$20,705,120 -$3,919,083	$31,442,797
27	$58,869,800	-$21,742,156 -$4,114,999	$33,012,645
28	$61,813,400	-$22,831,288 -$4,320,757	$34,661,355
29	$64,904,400	-$23,974,958 -$4,536,818	$36,392,624
30	$68,149,400	-$25,175,608 -$4,763,643	$38,210,149