The jackpot for the Powerball draw on Sat Apr 25, 2026, is projected to be $118 Million, with an option for a cash payout of $53.9 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 Apr 25, 2026 |
|---|
| Draw Date | Sat Apr 25, 2026 | | Projected Jackpot | $118,000,000 | | Cash Value | $53,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $53,900,000 | | Federal Tax(24%) | $12,936,000 | | Additional Federal Tax | $6,967,330 | | State Tax(6.99%) | $3,767,610 | | Net Lumpsum Payment | $30,229,060 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,776,018 |
$617,457
$124,144 |
$1,034,417 |
| 2 |
$1,864,872 |
$650,333
$130,355 |
$1,084,184 |
| 3 |
$1,958,092 |
$684,824
$136,871 |
$1,136,397 |
| 4 |
$2,056,032 |
$721,062
$143,717 |
$1,191,253 |
| 5 |
$2,158,810 |
$759,090
$150,901 |
$1,248,819 |
| 6 |
$2,266,780 |
$799,039
$158,448 |
$1,309,293 |
| 7 |
$2,380,060 |
$840,953
$166,366 |
$1,372,741 |
| 8 |
$2,499,122 |
$885,006
$174,689 |
$1,439,427 |
| 9 |
$2,624,084 |
$931,241
$183,423 |
$1,509,420 |
| 10 |
$2,755,300 |
$979,791
$192,595 |
$1,582,914 |
| 11 |
$2,893,006 |
$1,030,743
$202,221 |
$1,660,042 |
| 12 |
$3,037,674 |
$1,084,270
$212,333 |
$1,741,071 |
| 13 |
$3,189,540 |
$1,140,460
$222,949 |
$1,826,131 |
| 14 |
$3,349,076 |
$1,199,489
$234,100 |
$1,915,487 |
| 15 |
$3,516,518 |
$1,261,442
$245,805 |
$2,009,271 |
| 16 |
$3,692,338 |
$1,326,495
$258,094 |
$2,107,749 |
| 17 |
$3,876,890 |
$1,394,780
$270,995 |
$2,211,115 |
| 18 |
$4,070,764 |
$1,466,513
$284,546 |
$2,319,705 |
| 19 |
$4,274,314 |
$1,541,827
$298,775 |
$2,433,712 |
| 20 |
$4,488,012 |
$1,620,895
$313,712 |
$2,553,405 |
| 21 |
$4,712,448 |
$1,703,936
$329,400 |
$2,679,112 |
| 22 |
$4,948,094 |
$1,791,125
$345,872 |
$2,811,097 |
| 23 |
$5,195,422 |
$1,882,637
$363,160 |
$2,949,625 |
| 24 |
$5,455,258 |
$1,978,776
$381,323 |
$3,095,159 |
| 25 |
$5,727,956 |
$2,079,674
$400,384 |
$3,247,898 |
| 26 |
$6,014,460 |
$2,185,681
$420,411 |
$3,408,368 |
| 27 |
$6,315,124 |
$2,296,926
$441,427 |
$3,576,771 |
| 28 |
$6,630,892 |
$2,413,760
$463,499 |
$3,753,633 |
| 29 |
$6,962,472 |
$2,536,445
$486,677 |
$3,939,350 |
| 30 |
$7,310,572 |
$2,665,242
$511,009 |
$4,134,321 |
|
|
