The jackpot for the Powerball draw on Sat Jun 27, 2026, is projected to be $348 Million, with an option for a cash payout of $157.5 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 Sat Jun 27, 2026 |
|---|
| Draw Date | Sat Jun 27, 2026 | | Projected Jackpot | $348,000,000 | | Cash Value | $157,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $157,500,000 | | Federal Tax(24%) | $37,800,000 | | Additional Federal Tax | $20,435,330 | | State Tax(6.99%) | $11,009,250 | | Net Lumpsum Payment | $88,255,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,237,748 |
$1,898,297
$366,119 |
$2,973,332 |
| 2 |
$5,499,792 |
$1,995,253
$384,435 |
$3,120,104 |
| 3 |
$5,774,712 |
$2,096,974
$403,652 |
$3,274,086 |
| 4 |
$6,063,552 |
$2,203,845
$423,842 |
$3,435,865 |
| 5 |
$6,366,660 |
$2,315,995
$445,030 |
$3,605,635 |
| 6 |
$6,685,080 |
$2,433,810
$467,287 |
$3,783,983 |
| 7 |
$7,019,160 |
$2,557,420
$490,639 |
$3,971,101 |
| 8 |
$7,370,292 |
$2,687,338
$515,183 |
$4,167,771 |
| 9 |
$7,738,824 |
$2,823,695
$540,944 |
$4,374,185 |
| 10 |
$8,125,800 |
$2,966,876
$567,993 |
$4,590,931 |
| 11 |
$8,531,916 |
$3,117,139
$596,381 |
$4,818,396 |
| 12 |
$8,958,564 |
$3,274,999
$626,204 |
$5,057,361 |
| 13 |
$9,406,440 |
$3,440,713
$657,510 |
$5,308,217 |
| 14 |
$9,876,936 |
$3,614,797
$690,398 |
$5,571,741 |
| 15 |
$10,370,748 |
$3,797,507
$724,915 |
$5,848,326 |
| 16 |
$10,889,268 |
$3,989,360
$761,160 |
$6,138,748 |
| 17 |
$11,433,540 |
$4,190,740
$799,204 |
$6,443,596 |
| 18 |
$12,005,304 |
$4,402,293
$839,171 |
$6,763,840 |
| 19 |
$12,605,604 |
$4,624,404
$881,132 |
$7,100,068 |
| 20 |
$13,235,832 |
$4,857,588
$925,185 |
$7,453,059 |
| 21 |
$13,897,728 |
$5,102,490
$971,451 |
$7,823,787 |
| 22 |
$14,592,684 |
$5,359,623
$1,020,029 |
$8,213,032 |
| 23 |
$15,322,092 |
$5,629,504
$1,071,014 |
$8,621,574 |
| 24 |
$16,088,388 |
$5,913,034
$1,124,578 |
$9,050,776 |
| 25 |
$16,892,616 |
$6,210,598
$1,180,794 |
$9,501,224 |
| 26 |
$17,737,560 |
$6,523,228
$1,239,855 |
$9,974,477 |
| 27 |
$18,624,264 |
$6,851,308
$1,301,836 |
$10,471,120 |
| 28 |
$19,555,512 |
$7,195,870
$1,366,930 |
$10,992,712 |
| 29 |
$20,533,392 |
$7,557,685
$1,435,284 |
$11,540,423 |
| 30 |
$21,559,992 |
$7,937,527
$1,507,043 |
$12,115,422 |
|
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