The jackpot for the Powerball draw on Sat Jul 5, 2025, is projected to be $190 Million, with an option for a cash payout of $87 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 Jul 5, 2025 |
|---|
| Draw Date | Sat Jul 5, 2025 | | Projected Jackpot | $190,000,000 | | Cash Value | $87,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $87,000,000 | | Federal Tax(24%) | $20,880,000 | | Additional Federal Tax | $11,270,330 | | State Tax(6.99%) | $6,081,300 | | Net Lumpsum Payment | $48,768,370 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,859,690 |
$1,018,416
$199,892 |
$1,641,382 |
| 2 |
$3,002,760 |
$1,071,352
$209,893 |
$1,721,515 |
| 3 |
$3,152,860 |
$1,126,889
$220,385 |
$1,805,586 |
| 4 |
$3,310,560 |
$1,185,238
$231,408 |
$1,893,914 |
| 5 |
$3,476,050 |
$1,246,469
$242,976 |
$1,986,605 |
| 6 |
$3,649,900 |
$1,310,793
$255,128 |
$2,083,979 |
| 7 |
$3,832,300 |
$1,378,281
$267,878 |
$2,186,141 |
| 8 |
$4,024,010 |
$1,449,214
$281,278 |
$2,293,518 |
| 9 |
$4,225,220 |
$1,523,662
$295,343 |
$2,406,215 |
| 10 |
$4,436,500 |
$1,601,835
$310,111 |
$2,524,554 |
| 11 |
$4,658,230 |
$1,683,875
$325,610 |
$2,648,745 |
| 12 |
$4,891,170 |
$1,770,063
$341,893 |
$2,779,214 |
| 13 |
$5,135,700 |
$1,860,539
$358,985 |
$2,916,176 |
| 14 |
$5,392,580 |
$1,955,585
$376,941 |
$3,060,054 |
| 15 |
$5,662,190 |
$2,055,341
$395,787 |
$3,211,062 |
| 16 |
$5,945,290 |
$2,160,088
$415,576 |
$3,369,626 |
| 17 |
$6,242,450 |
$2,270,037
$436,347 |
$3,536,066 |
| 18 |
$6,554,620 |
$2,385,540
$458,168 |
$3,710,912 |
| 19 |
$6,882,370 |
$2,506,807
$481,078 |
$3,894,485 |
| 20 |
$7,226,460 |
$2,634,121
$505,130 |
$4,087,209 |
| 21 |
$7,587,840 |
$2,767,831
$530,390 |
$4,289,619 |
| 22 |
$7,967,270 |
$2,908,220
$556,912 |
$4,502,138 |
| 23 |
$8,365,510 |
$3,055,569
$584,749 |
$4,725,192 |
| 24 |
$8,783,890 |
$3,210,370
$613,994 |
$4,959,526 |
| 25 |
$9,222,980 |
$3,372,833
$644,686 |
$5,205,461 |
| 26 |
$9,684,300 |
$3,543,521
$676,933 |
$5,463,846 |
| 27 |
$10,168,420 |
$3,722,646
$710,773 |
$5,735,001 |
| 28 |
$10,676,860 |
$3,910,769
$746,313 |
$6,019,778 |
| 29 |
$11,210,760 |
$4,108,312
$783,632 |
$6,318,816 |
| 30 |
$11,771,260 |
$4,315,697
$822,811 |
$6,632,752 |
|
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