The jackpot for the Powerball draw on Sat Aug 30, 2025, is projected to be $950 Million, with an option for a cash payout of $428.9 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 Aug 30, 2025 |
|---|
| Draw Date | Sat Aug 30, 2025 | | Projected Jackpot | $950,000,000 | | Cash Value | $428,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $428,900,000 | | Federal Tax(24%) | $102,936,000 | | Additional Federal Tax | $55,717,330 | | State Tax(6.99%) | $29,980,110 | | Net Lumpsum Payment | $240,266,560 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$14,298,450 |
$5,250,757
$999,462 |
$8,048,231 |
| 2 |
$15,013,800 |
$5,515,436
$1,049,465 |
$8,448,899 |
| 3 |
$15,764,300 |
$5,793,121
$1,101,925 |
$8,869,254 |
| 4 |
$16,552,800 |
$6,084,866
$1,157,041 |
$9,310,893 |
| 5 |
$17,380,250 |
$6,391,023
$1,214,879 |
$9,774,348 |
| 6 |
$18,249,500 |
$6,712,645
$1,275,640 |
$10,261,215 |
| 7 |
$19,161,500 |
$7,050,085
$1,339,389 |
$10,772,026 |
| 8 |
$20,120,050 |
$7,404,749
$1,406,391 |
$11,308,910 |
| 9 |
$21,126,100 |
$7,776,987
$1,476,714 |
$11,872,399 |
| 10 |
$22,182,500 |
$8,167,855
$1,550,557 |
$12,464,088 |
| 11 |
$23,291,150 |
$8,578,056
$1,628,051 |
$13,085,043 |
| 12 |
$24,455,850 |
$9,008,995
$1,709,464 |
$13,737,391 |
| 13 |
$25,678,500 |
$9,461,375
$1,794,927 |
$14,422,198 |
| 14 |
$26,962,900 |
$9,936,603
$1,884,707 |
$15,141,590 |
| 15 |
$28,310,950 |
$10,435,382
$1,978,935 |
$15,896,633 |
| 16 |
$29,726,450 |
$10,959,117
$2,077,879 |
$16,689,454 |
| 17 |
$31,212,250 |
$11,508,863
$2,181,736 |
$17,521,651 |
| 18 |
$32,773,100 |
$12,086,377
$2,290,840 |
$18,395,883 |
| 19 |
$34,411,850 |
$12,692,715
$2,405,388 |
$19,313,747 |
| 20 |
$36,132,300 |
$13,329,281
$2,525,648 |
$20,277,371 |
| 21 |
$37,939,200 |
$13,997,834
$2,651,950 |
$21,289,416 |
| 22 |
$39,836,350 |
$14,699,780
$2,784,561 |
$22,352,009 |
| 23 |
$41,827,550 |
$15,436,524
$2,923,746 |
$23,467,280 |
| 24 |
$43,919,450 |
$16,210,527
$3,069,970 |
$24,638,953 |
| 25 |
$46,114,900 |
$17,022,843
$3,223,432 |
$25,868,625 |
| 26 |
$48,421,500 |
$17,876,285
$3,384,663 |
$27,160,552 |
| 27 |
$50,842,100 |
$18,771,907
$3,553,863 |
$28,516,330 |
| 28 |
$53,384,300 |
$19,712,521
$3,731,563 |
$29,940,216 |
| 29 |
$56,053,800 |
$20,700,236
$3,918,161 |
$31,435,403 |
| 30 |
$58,856,300 |
$21,737,161
$4,114,055 |
$33,005,084 |
|
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