The jackpot for the Powerball draw on Mon Nov 2, 2026, is projected to be $793 Million, with an option for a cash payout of $339.9 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 Mon Nov 2, 2026 |
|---|
| Draw Date | Mon Nov 2, 2026 | | Projected Jackpot | $793,000,000 | | Cash Value | $339,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $339,900,000 | | Federal Tax(24%) | $81,576,000 | | Additional Federal Tax | $44,147,330 | | State Tax(6.99%) | $23,759,010 | | Net Lumpsum Payment | $190,417,660 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$11,935,443 |
$4,376,444
$834,287 |
$6,724,712 |
| 2 |
$12,532,572 |
$4,597,382
$876,027 |
$7,059,163 |
| 3 |
$13,159,042 |
$4,829,176
$919,817 |
$7,410,049 |
| 4 |
$13,817,232 |
$5,072,706
$965,825 |
$7,778,701 |
| 5 |
$14,507,935 |
$5,328,266
$1,014,105 |
$8,165,564 |
| 6 |
$15,233,530 |
$5,596,736
$1,064,824 |
$8,571,970 |
| 7 |
$15,994,810 |
$5,878,410
$1,118,037 |
$8,998,363 |
| 8 |
$16,794,947 |
$6,174,461
$1,173,967 |
$9,446,519 |
| 9 |
$17,634,734 |
$6,485,182
$1,232,668 |
$9,916,884 |
| 10 |
$18,516,550 |
$6,811,454
$1,294,307 |
$10,410,789 |
| 11 |
$19,441,981 |
$7,153,863
$1,358,994 |
$10,929,124 |
| 12 |
$20,414,199 |
$7,513,584
$1,426,953 |
$11,473,662 |
| 13 |
$21,434,790 |
$7,891,203
$1,498,292 |
$12,045,295 |
| 14 |
$22,506,926 |
$8,287,893
$1,573,234 |
$12,645,799 |
| 15 |
$23,632,193 |
$8,704,242
$1,651,890 |
$13,276,061 |
| 16 |
$24,813,763 |
$9,141,423
$1,734,482 |
$13,937,858 |
| 17 |
$26,054,015 |
$9,600,316
$1,821,176 |
$14,632,523 |
| 18 |
$27,356,914 |
$10,082,389
$1,912,248 |
$15,362,277 |
| 19 |
$28,724,839 |
$10,588,521
$2,007,866 |
$16,128,452 |
| 20 |
$30,160,962 |
$11,119,886
$2,108,251 |
$16,932,825 |
| 21 |
$31,669,248 |
$11,677,952
$2,213,680 |
$17,777,616 |
| 22 |
$33,252,869 |
$12,263,892
$2,324,376 |
$18,664,601 |
| 23 |
$34,914,997 |
$12,878,879
$2,440,558 |
$19,595,560 |
| 24 |
$36,661,183 |
$13,524,968
$2,562,617 |
$20,573,598 |
| 25 |
$38,493,806 |
$14,203,039
$2,690,717 |
$21,600,050 |
| 26 |
$40,419,210 |
$14,915,438
$2,825,303 |
$22,678,469 |
| 27 |
$42,439,774 |
$15,663,047
$2,966,540 |
$23,810,187 |
| 28 |
$44,561,842 |
$16,448,212
$3,114,873 |
$24,998,757 |
| 29 |
$46,790,172 |
$17,272,694
$3,270,633 |
$26,246,845 |
| 30 |
$49,129,522 |
$18,138,254
$3,434,154 |
$27,557,114 |
|
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