The jackpot for the Powerball draw on Wed Jun 24, 2026, is projected to be $327 Million, with an option for a cash payout of $148 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 Jun 24, 2026 |
|---|
| Draw Date | Wed Jun 24, 2026 | | Projected Jackpot | $327,000,000 | | Cash Value | $148,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $148,000,000 | | Federal Tax(24%) | $35,520,000 | | Additional Federal Tax | $19,200,330 | | State Tax(6.99%) | $10,345,200 | | Net Lumpsum Payment | $82,934,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,921,677 |
$1,781,351
$344,025 |
$2,796,301 |
| 2 |
$5,167,908 |
$1,872,456
$361,237 |
$2,934,215 |
| 3 |
$5,426,238 |
$1,968,038
$379,294 |
$3,078,906 |
| 4 |
$5,697,648 |
$2,068,460
$398,266 |
$3,230,922 |
| 5 |
$5,982,465 |
$2,173,842
$418,174 |
$3,390,449 |
| 6 |
$6,281,670 |
$2,284,548
$439,089 |
$3,558,033 |
| 7 |
$6,595,590 |
$2,400,699
$461,032 |
$3,733,859 |
| 8 |
$6,925,533 |
$2,522,778
$484,095 |
$3,918,660 |
| 9 |
$7,271,826 |
$2,650,906
$508,301 |
$4,112,619 |
| 10 |
$7,635,450 |
$2,785,447
$533,718 |
$4,316,285 |
| 11 |
$8,017,059 |
$2,926,642
$560,392 |
$4,530,025 |
| 12 |
$8,417,961 |
$3,074,976
$588,415 |
$4,754,570 |
| 13 |
$8,838,810 |
$3,230,690
$617,833 |
$4,990,287 |
| 14 |
$9,280,914 |
$3,394,269
$648,736 |
$5,237,909 |
| 15 |
$9,744,927 |
$3,565,953
$681,170 |
$5,497,804 |
| 16 |
$10,232,157 |
$3,746,228
$715,228 |
$5,770,701 |
| 17 |
$10,743,585 |
$3,935,457
$750,977 |
$6,057,151 |
| 18 |
$11,280,846 |
$4,134,243
$788,531 |
$6,358,072 |
| 19 |
$11,844,921 |
$4,342,951
$827,960 |
$6,674,010 |
| 20 |
$12,437,118 |
$4,562,064
$869,355 |
$7,005,699 |
| 21 |
$13,059,072 |
$4,792,187
$912,829 |
$7,354,056 |
| 22 |
$13,712,091 |
$5,033,804
$958,475 |
$7,719,812 |
| 23 |
$14,397,483 |
$5,287,399
$1,006,384 |
$8,103,700 |
| 24 |
$15,117,537 |
$5,553,819
$1,056,716 |
$8,507,002 |
| 25 |
$15,873,234 |
$5,833,427
$1,109,539 |
$8,930,268 |
| 26 |
$16,667,190 |
$6,127,191
$1,165,037 |
$9,374,962 |
| 27 |
$17,500,386 |
$6,435,473
$1,223,277 |
$9,841,636 |
| 28 |
$18,375,438 |
$6,759,242
$1,284,443 |
$10,331,753 |
| 29 |
$19,294,308 |
$7,099,224
$1,348,672 |
$10,846,412 |
| 30 |
$20,258,958 |
$7,456,145
$1,416,101 |
$11,386,712 |
|
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