The jackpot for the Powerball draw on Wed Oct 22, 2025, is projected to be $320 Million, with an option for a cash payout of $152.2 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 Oct 22, 2025 |
|---|
| Draw Date | Wed Oct 22, 2025 | | Projected Jackpot | $320,000,000 | | Cash Value | $152,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $152,200,000 | | Federal Tax(24%) | $36,528,000 | | Additional Federal Tax | $19,746,330 | | State Tax(6.99%) | $10,638,780 | | Net Lumpsum Payment | $85,286,890 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,816,320 |
$1,742,369
$336,661 |
$2,737,290 |
| 2 |
$5,057,280 |
$1,831,524
$353,504 |
$2,872,252 |
| 3 |
$5,310,080 |
$1,925,060
$371,175 |
$3,013,845 |
| 4 |
$5,575,680 |
$2,023,332
$389,740 |
$3,162,608 |
| 5 |
$5,854,400 |
$2,126,458
$409,223 |
$3,318,719 |
| 6 |
$6,147,200 |
$2,234,794
$429,689 |
$3,482,717 |
| 7 |
$6,454,400 |
$2,348,458
$451,163 |
$3,654,779 |
| 8 |
$6,777,280 |
$2,467,924
$473,732 |
$3,835,624 |
| 9 |
$7,116,160 |
$2,593,310
$497,420 |
$4,025,430 |
| 10 |
$7,472,000 |
$2,724,970
$522,293 |
$4,224,737 |
| 11 |
$7,845,440 |
$2,863,143
$548,396 |
$4,433,901 |
| 12 |
$8,237,760 |
$3,008,302
$575,819 |
$4,653,639 |
| 13 |
$8,649,600 |
$3,160,682
$604,607 |
$4,884,311 |
| 14 |
$9,082,240 |
$3,320,759
$634,849 |
$5,126,632 |
| 15 |
$9,536,320 |
$3,488,769
$666,589 |
$5,380,962 |
| 16 |
$10,013,120 |
$3,665,185
$699,917 |
$5,648,018 |
| 17 |
$10,513,600 |
$3,850,362
$734,901 |
$5,928,337 |
| 18 |
$11,039,360 |
$4,044,894
$771,651 |
$6,222,815 |
| 19 |
$11,591,360 |
$4,249,134
$810,236 |
$6,531,990 |
| 20 |
$12,170,880 |
$4,463,556
$850,745 |
$6,856,579 |
| 21 |
$12,779,520 |
$4,688,753
$893,288 |
$7,197,479 |
| 22 |
$13,418,560 |
$4,925,198
$937,957 |
$7,555,405 |
| 23 |
$14,089,280 |
$5,173,364
$984,841 |
$7,931,075 |
| 24 |
$14,793,920 |
$5,434,081
$1,034,095 |
$8,325,744 |
| 25 |
$15,533,440 |
$5,707,703
$1,085,787 |
$8,739,950 |
| 26 |
$16,310,400 |
$5,995,178
$1,140,097 |
$9,175,125 |
| 27 |
$17,125,760 |
$6,296,862
$1,197,091 |
$9,631,807 |
| 28 |
$17,982,080 |
$6,613,700
$1,256,947 |
$10,111,433 |
| 29 |
$18,881,280 |
$6,946,404
$1,319,801 |
$10,615,075 |
| 30 |
$19,825,280 |
$7,295,684
$1,385,787 |
$11,143,809 |
|
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