The jackpot for the Powerball draw on Wed Jun 25, 2025, is projected to be $140 Million, with an option for a cash payout of $63 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 Jun 25, 2025 |
|---|
| Draw Date | Wed Jun 25, 2025 | | Projected Jackpot | $140,000,000 | | Cash Value | $63,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $63,000,000 | | Federal Tax(24%) | $15,120,000 | | Additional Federal Tax | $8,150,330 | | State Tax(6.99%) | $4,403,700 | | Net Lumpsum Payment | $35,325,970 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,107,140 |
$739,972
$147,289 |
$1,219,879 |
| 2 |
$2,212,560 |
$778,978
$154,658 |
$1,278,924 |
| 3 |
$2,323,160 |
$819,900
$162,389 |
$1,340,871 |
| 4 |
$2,439,360 |
$862,894
$170,511 |
$1,405,955 |
| 5 |
$2,561,300 |
$908,011
$179,035 |
$1,474,254 |
| 6 |
$2,689,400 |
$955,408
$187,989 |
$1,546,003 |
| 7 |
$2,823,800 |
$1,005,136
$197,384 |
$1,621,280 |
| 8 |
$2,965,060 |
$1,057,403
$207,258 |
$1,700,399 |
| 9 |
$3,113,320 |
$1,112,259
$217,621 |
$1,783,440 |
| 10 |
$3,269,000 |
$1,169,860
$228,503 |
$1,870,637 |
| 11 |
$3,432,380 |
$1,230,311
$239,923 |
$1,962,146 |
| 12 |
$3,604,020 |
$1,293,818
$251,921 |
$2,058,281 |
| 13 |
$3,784,200 |
$1,360,484
$264,516 |
$2,159,200 |
| 14 |
$3,973,480 |
$1,430,518
$277,746 |
$2,265,216 |
| 15 |
$4,172,140 |
$1,504,022
$291,633 |
$2,376,485 |
| 16 |
$4,380,740 |
$1,581,204
$306,214 |
$2,493,322 |
| 17 |
$4,599,700 |
$1,662,219
$321,519 |
$2,615,962 |
| 18 |
$4,829,720 |
$1,747,327
$337,597 |
$2,744,796 |
| 19 |
$5,071,220 |
$1,836,682
$354,478 |
$2,880,060 |
| 20 |
$5,324,760 |
$1,930,492
$372,201 |
$3,022,067 |
| 21 |
$5,591,040 |
$2,029,015
$390,814 |
$3,171,211 |
| 22 |
$5,870,620 |
$2,132,460
$410,356 |
$3,327,804 |
| 23 |
$6,164,060 |
$2,241,033
$430,868 |
$3,492,159 |
| 24 |
$6,472,340 |
$2,355,096
$452,417 |
$3,664,827 |
| 25 |
$6,795,880 |
$2,474,806
$475,032 |
$3,846,042 |
| 26 |
$7,135,800 |
$2,600,576
$498,792 |
$4,036,432 |
| 27 |
$7,492,520 |
$2,732,563
$523,727 |
$4,236,230 |
| 28 |
$7,867,160 |
$2,871,180
$549,914 |
$4,446,066 |
| 29 |
$8,260,560 |
$3,016,738
$577,413 |
$4,666,409 |
| 30 |
$8,673,560 |
$3,169,548
$606,282 |
$4,897,730 |
|
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