The jackpot for the Powerball draw on Mon Aug 24, 2026, is projected to be $81 Million, with an option for a cash payout of $34.8 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 Aug 24, 2026 |
|---|
| Draw Date | Mon Aug 24, 2026 | | Projected Jackpot | $81,000,000 | | Cash Value | $34,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $34,800,000 | | Federal Tax(24%) | $8,352,000 | | Additional Federal Tax | $4,484,330 | | State Tax(6.99%) | $2,432,520 | | Net Lumpsum Payment | $19,531,150 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,219,131 |
$411,409
$85,217 |
$722,505 |
| 2 |
$1,280,124 |
$433,976
$89,481 |
$756,667 |
| 3 |
$1,344,114 |
$457,653
$93,954 |
$792,507 |
| 4 |
$1,411,344 |
$482,528
$98,653 |
$830,163 |
| 5 |
$1,481,895 |
$508,632
$103,584 |
$869,679 |
| 6 |
$1,556,010 |
$536,054
$108,765 |
$911,191 |
| 7 |
$1,633,770 |
$564,825
$114,201 |
$954,744 |
| 8 |
$1,715,499 |
$595,065
$119,913 |
$1,000,521 |
| 9 |
$1,801,278 |
$626,803
$125,909 |
$1,048,566 |
| 10 |
$1,891,350 |
$660,130
$132,205 |
$1,099,015 |
| 11 |
$1,985,877 |
$695,105
$138,813 |
$1,151,959 |
| 12 |
$2,085,183 |
$731,848
$145,754 |
$1,207,581 |
| 13 |
$2,189,430 |
$770,419
$153,041 |
$1,265,970 |
| 14 |
$2,298,942 |
$810,939
$160,696 |
$1,327,307 |
| 15 |
$2,413,881 |
$853,466
$168,730 |
$1,391,685 |
| 16 |
$2,534,571 |
$898,122
$177,167 |
$1,459,282 |
| 17 |
$2,661,255 |
$944,995
$186,022 |
$1,530,238 |
| 18 |
$2,794,338 |
$994,235
$195,324 |
$1,604,779 |
| 19 |
$2,934,063 |
$1,045,934
$205,091 |
$1,683,038 |
| 20 |
$3,080,754 |
$1,100,209
$215,345 |
$1,765,200 |
| 21 |
$3,234,816 |
$1,157,212
$226,114 |
$1,851,490 |
| 22 |
$3,396,573 |
$1,217,062
$237,420 |
$1,942,091 |
| 23 |
$3,566,349 |
$1,279,880
$249,288 |
$2,037,181 |
| 24 |
$3,744,711 |
$1,345,873
$261,755 |
$2,137,083 |
| 25 |
$3,931,902 |
$1,415,134
$274,840 |
$2,241,928 |
| 26 |
$4,128,570 |
$1,487,901
$288,587 |
$2,352,082 |
| 27 |
$4,334,958 |
$1,564,265
$303,014 |
$2,467,679 |
| 28 |
$4,551,714 |
$1,644,465
$318,165 |
$2,589,084 |
| 29 |
$4,779,324 |
$1,728,680
$334,075 |
$2,716,569 |
| 30 |
$5,018,274 |
$1,817,092
$350,777 |
$2,850,405 |
|
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