The jackpot for the Powerball draw on Mon Feb 23, 2026, is projected to be $203 Million, with an option for a cash payout of $94.6 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Connecticut residents, the state will deduct 6.99% from your lottery earnings.
| Connecticut Powerball Jackpot/Cash Option for Mon Feb 23, 2026 |
|---|
| Draw Date | Mon Feb 23, 2026 | | Projected Jackpot | $203,000,000 | | Cash Value | $94,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $94,600,000 | | Federal Tax(24%) | $22,704,000 | | Additional Federal Tax | $12,258,330 | | State Tax(6.99%) | $6,612,540 | | Net Lumpsum Payment | $53,025,130 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,055,353 |
$1,090,811
$213,569 |
$1,750,973 |
| 2 |
$3,208,212 |
$1,147,369
$224,254 |
$1,836,589 |
| 3 |
$3,368,582 |
$1,206,706
$235,464 |
$1,926,412 |
| 4 |
$3,537,072 |
$1,269,047
$247,241 |
$2,020,784 |
| 5 |
$3,713,885 |
$1,334,468
$259,601 |
$2,119,816 |
| 6 |
$3,899,630 |
$1,403,193
$272,584 |
$2,223,853 |
| 7 |
$4,094,510 |
$1,475,299
$286,206 |
$2,333,005 |
| 8 |
$4,299,337 |
$1,551,085
$300,524 |
$2,447,728 |
| 9 |
$4,514,314 |
$1,630,627
$315,551 |
$2,568,136 |
| 10 |
$4,740,050 |
$1,714,149
$331,329 |
$2,694,572 |
| 11 |
$4,976,951 |
$1,801,802
$347,889 |
$2,827,260 |
| 12 |
$5,225,829 |
$1,893,887
$365,285 |
$2,966,657 |
| 13 |
$5,487,090 |
$1,990,554
$383,548 |
$3,112,988 |
| 14 |
$5,761,546 |
$2,092,102
$402,732 |
$3,266,712 |
| 15 |
$6,049,603 |
$2,198,683
$422,867 |
$3,428,053 |
| 16 |
$6,352,073 |
$2,310,597
$444,010 |
$3,597,466 |
| 17 |
$6,669,565 |
$2,428,069
$466,203 |
$3,775,293 |
| 18 |
$7,003,094 |
$2,551,475
$489,516 |
$3,962,103 |
| 19 |
$7,353,269 |
$2,681,040
$513,994 |
$4,158,235 |
| 20 |
$7,720,902 |
$2,817,064
$539,691 |
$4,364,147 |
| 21 |
$8,107,008 |
$2,959,923
$566,680 |
$4,580,405 |
| 22 |
$8,512,399 |
$3,109,918
$595,017 |
$4,807,464 |
| 23 |
$8,937,887 |
$3,267,349
$624,758 |
$5,045,780 |
| 24 |
$9,384,893 |
$3,432,741
$656,004 |
$5,296,148 |
| 25 |
$9,854,026 |
$3,606,320
$688,796 |
$5,558,910 |
| 26 |
$10,346,910 |
$3,788,687
$723,249 |
$5,834,974 |
| 27 |
$10,864,154 |
$3,980,067
$759,404 |
$6,124,683 |
| 28 |
$11,407,382 |
$4,181,062
$797,376 |
$6,428,944 |
| 29 |
$11,977,812 |
$4,392,121
$837,249 |
$6,748,442 |
| 30 |
$12,576,662 |
$4,613,695
$879,109 |
$7,083,858 |
|
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