The jackpot for the Powerball draw on Sat Aug 9, 2025, is projected to be $482 Million, with an option for a cash payout of $218.9 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 9, 2025 |
|---|
| Draw Date | Sat Aug 9, 2025 | | Projected Jackpot | $482,000,000 | | Cash Value | $218,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $218,900,000 | | Federal Tax(24%) | $52,536,000 | | Additional Federal Tax | $28,417,330 | | State Tax(6.99%) | $15,301,110 | | Net Lumpsum Payment | $122,645,560 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,254,582 |
$2,644,526
$507,095 |
$4,102,961 |
| 2 |
$7,617,528 |
$2,778,816
$532,465 |
$4,306,247 |
| 3 |
$7,998,308 |
$2,919,704
$559,082 |
$4,519,522 |
| 4 |
$8,398,368 |
$3,067,727
$587,046 |
$4,743,595 |
| 5 |
$8,818,190 |
$3,223,061
$616,391 |
$4,978,738 |
| 6 |
$9,259,220 |
$3,386,242
$647,219 |
$5,225,759 |
| 7 |
$9,721,940 |
$3,557,448
$679,564 |
$5,484,928 |
| 8 |
$10,208,278 |
$3,737,393
$713,559 |
$5,757,326 |
| 9 |
$10,718,716 |
$3,926,255
$749,238 |
$6,043,223 |
| 10 |
$11,254,700 |
$4,124,569
$786,704 |
$6,343,427 |
| 11 |
$11,817,194 |
$4,332,692
$826,022 |
$6,658,480 |
| 12 |
$12,408,126 |
$4,551,337
$867,328 |
$6,989,461 |
| 13 |
$13,028,460 |
$4,780,861
$910,689 |
$7,336,910 |
| 14 |
$13,680,124 |
$5,021,976
$956,241 |
$7,701,907 |
| 15 |
$14,364,082 |
$5,275,041
$1,004,049 |
$8,084,992 |
| 16 |
$15,082,262 |
$5,540,767
$1,054,250 |
$8,487,245 |
| 17 |
$15,836,110 |
$5,819,691
$1,106,944 |
$8,909,475 |
| 18 |
$16,628,036 |
$6,112,704
$1,162,300 |
$9,353,032 |
| 19 |
$17,459,486 |
$6,420,340
$1,220,418 |
$9,818,728 |
| 20 |
$18,332,388 |
$6,743,314
$1,281,434 |
$10,307,640 |
| 21 |
$19,249,152 |
$7,082,517
$1,345,516 |
$10,821,119 |
| 22 |
$20,211,706 |
$7,438,662
$1,412,798 |
$11,360,246 |
| 23 |
$21,221,978 |
$7,812,462
$1,483,416 |
$11,926,100 |
| 24 |
$22,283,342 |
$8,205,167
$1,557,606 |
$12,520,569 |
| 25 |
$23,397,244 |
$8,617,311
$1,635,467 |
$13,144,466 |
| 26 |
$24,567,540 |
$9,050,320
$1,717,271 |
$13,799,949 |
| 27 |
$25,795,676 |
$9,504,731
$1,803,118 |
$14,487,827 |
| 28 |
$27,085,508 |
$9,981,968
$1,893,277 |
$15,210,263 |
| 29 |
$28,439,928 |
$10,483,104
$1,987,951 |
$15,968,873 |
| 30 |
$29,861,828 |
$11,009,207
$2,087,342 |
$16,765,279 |
|
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