The jackpot for the Powerball draw on Sat Nov 23, 2024, is projected to be $171 Million, with an option for a cash payout of $78.7 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 Sat Nov 23, 2024 |
|---|
| Draw Date | Sat Nov 23, 2024 | | Projected Jackpot | $171,000,000 | | Cash Value | $78,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $78,700,000 | | Federal Tax(24%) | $18,888,000 | | Additional Federal Tax | $10,191,330 | | State Tax(6.99%) | $5,501,130 | | Net Lumpsum Payment | $44,119,540 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,573,721 |
$912,607
$179,903 |
$1,481,211 |
| 2 |
$2,702,484 |
$960,249
$188,904 |
$1,553,331 |
| 3 |
$2,837,574 |
$1,010,233
$198,346 |
$1,628,995 |
| 4 |
$2,979,504 |
$1,062,747
$208,267 |
$1,708,490 |
| 5 |
$3,128,445 |
$1,117,855
$218,678 |
$1,791,912 |
| 6 |
$3,284,910 |
$1,175,747
$229,615 |
$1,879,548 |
| 7 |
$3,449,070 |
$1,236,486
$241,090 |
$1,971,494 |
| 8 |
$3,621,609 |
$1,300,326
$253,150 |
$2,068,133 |
| 9 |
$3,802,698 |
$1,367,329
$265,809 |
$2,169,560 |
| 10 |
$3,992,850 |
$1,437,685
$279,100 |
$2,276,065 |
| 11 |
$4,192,407 |
$1,511,521
$293,049 |
$2,387,837 |
| 12 |
$4,402,053 |
$1,589,090
$307,704 |
$2,505,259 |
| 13 |
$4,622,130 |
$1,670,518
$323,087 |
$2,628,525 |
| 14 |
$4,853,322 |
$1,756,060
$339,247 |
$2,758,015 |
| 15 |
$5,095,971 |
$1,845,840
$356,208 |
$2,893,923 |
| 16 |
$5,350,761 |
$1,940,112
$374,018 |
$3,036,631 |
| 17 |
$5,618,205 |
$2,039,066
$392,713 |
$3,186,426 |
| 18 |
$5,899,158 |
$2,143,019
$412,351 |
$3,343,788 |
| 19 |
$6,194,133 |
$2,252,160
$432,970 |
$3,509,003 |
| 20 |
$6,503,814 |
$2,366,742
$454,617 |
$3,682,455 |
| 21 |
$6,829,056 |
$2,487,081
$477,351 |
$3,864,624 |
| 22 |
$7,170,543 |
$2,613,431
$501,221 |
$4,055,891 |
| 23 |
$7,528,959 |
$2,746,045
$526,274 |
$4,256,640 |
| 24 |
$7,905,501 |
$2,885,366
$552,595 |
$4,467,540 |
| 25 |
$8,300,682 |
$3,031,583
$580,218 |
$4,688,881 |
| 26 |
$8,715,870 |
$3,185,202
$609,239 |
$4,921,429 |
| 27 |
$9,151,578 |
$3,346,414
$639,695 |
$5,165,469 |
| 28 |
$9,609,174 |
$3,515,725
$671,681 |
$5,421,768 |
| 29 |
$10,089,684 |
$3,693,513
$705,269 |
$5,690,902 |
| 30 |
$10,594,134 |
$3,880,160
$740,530 |
$5,973,444 |
|
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