The jackpot for the Powerball draw on Sat Sep 14, 2024, is projected to be $152 Million, with an option for a cash payout of $76.7 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 Sep 14, 2024 |
|---|
| Draw Date | Sat Sep 14, 2024 | | Projected Jackpot | $152,000,000 | | Cash Value | $76,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $76,700,000 | | Federal Tax(24%) | $18,408,000 | | Additional Federal Tax | $9,931,330 | | State Tax(6.99%) | $5,361,330 | | Net Lumpsum Payment | $42,999,340 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,287,752 |
$806,799
$159,914 |
$1,321,039 |
| 2 |
$2,402,208 |
$849,147
$167,914 |
$1,385,147 |
| 3 |
$2,522,288 |
$893,577
$176,308 |
$1,452,403 |
| 4 |
$2,648,448 |
$940,256
$185,127 |
$1,523,065 |
| 5 |
$2,780,840 |
$989,241
$194,381 |
$1,597,218 |
| 6 |
$2,919,920 |
$1,040,701
$204,102 |
$1,675,117 |
| 7 |
$3,065,840 |
$1,094,691
$214,302 |
$1,756,847 |
| 8 |
$3,219,208 |
$1,151,437
$225,023 |
$1,842,748 |
| 9 |
$3,380,176 |
$1,210,996
$236,274 |
$1,932,906 |
| 10 |
$3,549,200 |
$1,273,534
$248,089 |
$2,027,577 |
| 11 |
$3,726,584 |
$1,339,166
$260,488 |
$2,126,930 |
| 12 |
$3,912,936 |
$1,408,117
$273,514 |
$2,231,305 |
| 13 |
$4,108,560 |
$1,480,498
$287,188 |
$2,340,874 |
| 14 |
$4,314,064 |
$1,556,534
$301,553 |
$2,455,977 |
| 15 |
$4,529,752 |
$1,636,339
$316,630 |
$2,576,783 |
| 16 |
$4,756,232 |
$1,720,136
$332,461 |
$2,703,635 |
| 17 |
$4,993,960 |
$1,808,096
$349,078 |
$2,836,786 |
| 18 |
$5,243,696 |
$1,900,498
$366,534 |
$2,976,664 |
| 19 |
$5,505,896 |
$1,997,512
$384,862 |
$3,123,522 |
| 20 |
$5,781,168 |
$2,099,363
$404,104 |
$3,277,701 |
| 21 |
$6,070,272 |
$2,206,331
$424,312 |
$3,439,629 |
| 22 |
$6,373,816 |
$2,318,642
$445,530 |
$3,609,644 |
| 23 |
$6,692,408 |
$2,436,521
$467,799 |
$3,788,088 |
| 24 |
$7,027,112 |
$2,560,362
$491,195 |
$3,975,555 |
| 25 |
$7,378,384 |
$2,690,332
$515,749 |
$4,172,303 |
| 26 |
$7,747,440 |
$2,826,883
$541,546 |
$4,379,011 |
| 27 |
$8,134,736 |
$2,970,183
$568,618 |
$4,595,935 |
| 28 |
$8,541,488 |
$3,120,681
$597,050 |
$4,823,757 |
| 29 |
$8,968,608 |
$3,278,715
$626,906 |
$5,062,987 |
| 30 |
$9,417,008 |
$3,444,623
$658,249 |
$5,314,136 |
|
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