The jackpot for the Powerball draw on Wed Jan 14, 2026, is projected to be $156 Million, with an option for a cash payout of $70.5 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 Wed Jan 14, 2026 |
|---|
| Draw Date | Wed Jan 14, 2026 | | Projected Jackpot | $156,000,000 | | Cash Value | $70,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $70,500,000 | | Federal Tax(24%) | $16,920,000 | | Additional Federal Tax | $9,125,330 | | State Tax(6.99%) | $4,927,950 | | Net Lumpsum Payment | $39,526,720 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,347,956 |
$829,074
$164,122 |
$1,354,760 |
| 2 |
$2,465,424 |
$872,537
$172,333 |
$1,420,554 |
| 3 |
$2,588,664 |
$918,136
$180,948 |
$1,489,580 |
| 4 |
$2,718,144 |
$966,044
$189,998 |
$1,562,102 |
| 5 |
$2,854,020 |
$1,016,318
$199,496 |
$1,638,206 |
| 6 |
$2,996,760 |
$1,069,132
$209,474 |
$1,718,154 |
| 7 |
$3,146,520 |
$1,124,543
$219,942 |
$1,802,035 |
| 8 |
$3,303,924 |
$1,182,782
$230,944 |
$1,890,198 |
| 9 |
$3,469,128 |
$1,243,908
$242,492 |
$1,982,728 |
| 10 |
$3,642,600 |
$1,308,092
$254,618 |
$2,079,890 |
| 11 |
$3,824,652 |
$1,375,452
$267,343 |
$2,181,857 |
| 12 |
$4,015,908 |
$1,446,216
$280,712 |
$2,288,980 |
| 13 |
$4,216,680 |
$1,520,502
$294,746 |
$2,401,432 |
| 14 |
$4,427,592 |
$1,598,539
$309,489 |
$2,519,564 |
| 15 |
$4,648,956 |
$1,680,444
$324,962 |
$2,643,550 |
| 16 |
$4,881,396 |
$1,766,447
$341,210 |
$2,773,739 |
| 17 |
$5,125,380 |
$1,856,721
$358,264 |
$2,910,395 |
| 18 |
$5,381,688 |
$1,951,555
$376,180 |
$3,053,953 |
| 19 |
$5,650,788 |
$2,051,122
$394,990 |
$3,204,676 |
| 20 |
$5,933,304 |
$2,155,653
$414,738 |
$3,362,913 |
| 21 |
$6,230,016 |
$2,265,436
$435,478 |
$3,529,102 |
| 22 |
$6,541,548 |
$2,380,703
$457,254 |
$3,703,591 |
| 23 |
$6,868,524 |
$2,501,684
$480,110 |
$3,886,730 |
| 24 |
$7,212,036 |
$2,628,784
$504,121 |
$4,079,131 |
| 25 |
$7,572,552 |
$2,762,175
$529,321 |
$4,281,056 |
| 26 |
$7,951,320 |
$2,902,319
$555,797 |
$4,493,204 |
| 27 |
$8,348,808 |
$3,049,389
$583,582 |
$4,715,837 |
| 28 |
$8,766,264 |
$3,203,848
$612,762 |
$4,949,654 |
| 29 |
$9,204,624 |
$3,366,041
$643,403 |
$5,195,180 |
| 30 |
$9,664,824 |
$3,536,315
$675,571 |
$5,452,938 |
|
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