Connecticut Lottery

CTLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Oct 11, 2025 is estimated to be $244 Million, with a cash option of 114.2 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 Sat Oct 11, 2025

Draw Date	Jackpot	Cash Option
Sat Oct 11, 2025	$244,000,000	$114,200,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$114,200,000
Federal Tax(24%)	$27,408,000
Additional Federal Tax	$14,806,330
State Tax(6.99%)	$7,982,580
Net Lumpsum Payment	$64,003,090

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,672,444	-$1,319,135 -$256,704	$2,096,605
2	$3,856,176	-$1,387,116 -$269,547	$2,199,513
3	$4,048,936	-$1,458,437 -$283,021	$2,307,478
4	$4,251,456	-$1,533,369 -$297,177	$2,420,910
5	$4,463,980	-$1,612,003 -$312,032	$2,539,945
6	$4,687,240	-$1,694,609 -$327,638	$2,664,993
7	$4,921,480	-$1,781,278 -$344,011	$2,796,191
8	$5,167,676	-$1,872,371 -$361,221	$2,934,084
9	$5,426,072	-$1,967,977 -$379,282	$3,078,813
10	$5,697,400	-$2,068,368 -$398,248	$3,230,784
11	$5,982,148	-$2,173,725 -$418,152	$3,390,271
12	$6,281,292	-$2,284,408 -$439,062	$3,557,822
13	$6,595,320	-$2,400,599 -$461,013	$3,733,708
14	$6,925,208	-$2,522,657 -$484,072	$3,918,479
15	$7,271,444	-$2,650,765 -$508,274	$4,112,405
16	$7,635,004	-$2,785,282 -$533,687	$4,316,035
17	$8,016,620	-$2,926,480 -$560,362	$4,529,778
18	$8,417,512	-$3,074,810 -$588,384	$4,754,318
19	$8,838,412	-$3,230,543 -$617,805	$4,990,064
20	$9,280,296	-$3,394,040 -$648,693	$5,237,563
21	$9,744,384	-$3,565,752 -$681,132	$5,497,500
22	$10,231,652	-$3,746,042 -$715,192	$5,770,418
23	$10,743,076	-$3,935,269 -$750,941	$6,056,866
24	$11,280,364	-$4,134,065 -$788,497	$6,357,802
25	$11,844,248	-$4,342,702 -$827,913	$6,673,633
26	$12,436,680	-$4,561,902 -$869,324	$7,005,454
27	$13,058,392	-$4,791,935 -$912,782	$7,353,675
28	$13,711,336	-$5,033,525 -$958,422	$7,719,389
29	$14,396,976	-$5,287,212 -$1,006,349	$8,103,415
30	$15,116,776	-$5,553,538 -$1,056,663	$8,506,575