Jackpot Analysis Connecticut Powerball

Jackpot Analysis for Connecticut Powerball
The jackpot for the Powerball draw on Wed Feb 12, 2025, is projected to be $154 Million, with an option for a cash payout of $71.4 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 Feb 12, 2025
Draw DateWed Feb 12, 2025
Projected Jackpot$154,000,000
Cash Value$71,400,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$71,400,000
Federal Tax(24%)$17,136,000
Additional Federal Tax$9,242,330
State Tax(6.99%)$4,990,860
Net Lumpsum Payment$40,030,810
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $2,317,854 $817,936
$162,018
$1,337,900
2 $2,433,816 $860,842
$170,124
$1,402,850
3 $2,555,476 $905,857
$178,628
$1,470,991
4 $2,683,296 $953,150
$187,562
$1,542,584
5 $2,817,430 $1,002,779
$196,938
$1,617,713
6 $2,958,340 $1,054,916
$206,788
$1,696,636
7 $3,106,180 $1,109,617
$217,122
$1,779,441
8 $3,261,566 $1,167,110
$227,983
$1,866,473
9 $3,424,652 $1,227,452
$239,383
$1,957,817
10 $3,595,900 $1,290,813
$251,353
$2,053,734
11 $3,775,618 $1,357,309
$263,916
$2,154,393
12 $3,964,422 $1,427,167
$277,113
$2,260,142
13 $4,162,620 $1,500,500
$290,967
$2,371,153
14 $4,370,828 $1,577,537
$305,521
$2,487,770
15 $4,589,354 $1,658,391
$320,796
$2,610,167
16 $4,818,814 $1,743,292
$336,835
$2,738,687
17 $5,059,670 $1,832,408
$353,671
$2,873,591
18 $5,312,692 $1,926,026
$371,357
$3,015,309
19 $5,578,342 $2,024,317
$389,926
$3,164,099
20 $5,857,236 $2,127,508
$409,421
$3,320,307
21 $6,150,144 $2,235,884
$429,895
$3,484,365
22 $6,457,682 $2,349,673
$451,392
$3,656,617
23 $6,780,466 $2,469,103
$473,955
$3,837,408
24 $7,119,574 $2,594,573
$497,658
$4,027,343
25 $7,475,468 $2,726,254
$522,535
$4,226,679
26 $7,849,380 $2,864,601
$548,672
$4,436,107
27 $8,241,772 $3,009,786
$576,100
$4,655,886
28 $8,653,876 $3,162,265
$604,906
$4,886,705
29 $9,086,616 $3,322,378
$635,154
$5,129,084
30 $9,540,916 $3,490,469
$666,910
$5,383,537