The jackpot for the Powerball draw on Mon Mar 23, 2026, is projected to be $133 Million, with an option for a cash payout of $60.3 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 Mar 23, 2026 |
|---|
| Draw Date | Mon Mar 23, 2026 | | Projected Jackpot | $133,000,000 | | Cash Value | $60,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $60,300,000 | | Federal Tax(24%) | $14,472,000 | | Additional Federal Tax | $7,799,330 | | State Tax(6.99%) | $4,214,970 | | Net Lumpsum Payment | $33,813,700 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,001,783 |
$700,990
$139,925 |
$1,160,868 |
| 2 |
$2,101,932 |
$738,045
$146,925 |
$1,216,962 |
| 3 |
$2,207,002 |
$776,921
$154,269 |
$1,275,812 |
| 4 |
$2,317,392 |
$817,765
$161,986 |
$1,337,641 |
| 5 |
$2,433,235 |
$860,627
$170,083 |
$1,402,525 |
| 6 |
$2,554,930 |
$905,654
$178,590 |
$1,470,686 |
| 7 |
$2,682,610 |
$952,896
$187,514 |
$1,542,200 |
| 8 |
$2,816,807 |
$1,002,549
$196,895 |
$1,617,363 |
| 9 |
$2,957,654 |
$1,054,662
$206,740 |
$1,696,252 |
| 10 |
$3,105,550 |
$1,109,384
$217,078 |
$1,779,088 |
| 11 |
$3,260,761 |
$1,166,812
$227,927 |
$1,866,022 |
| 12 |
$3,423,819 |
$1,227,143
$239,325 |
$1,957,351 |
| 13 |
$3,594,990 |
$1,290,477
$251,290 |
$2,053,223 |
| 14 |
$3,774,806 |
$1,357,009
$263,859 |
$2,153,938 |
| 15 |
$3,963,533 |
$1,426,838
$277,051 |
$2,259,644 |
| 16 |
$4,161,703 |
$1,500,160
$290,903 |
$2,370,640 |
| 17 |
$4,369,715 |
$1,577,125
$305,443 |
$2,487,147 |
| 18 |
$4,588,234 |
$1,657,977
$320,718 |
$2,609,539 |
| 19 |
$4,817,659 |
$1,742,864
$336,754 |
$2,738,041 |
| 20 |
$5,058,522 |
$1,831,984
$353,591 |
$2,872,947 |
| 21 |
$5,311,488 |
$1,925,581
$371,273 |
$3,014,634 |
| 22 |
$5,577,089 |
$2,023,853
$389,839 |
$3,163,397 |
| 23 |
$5,855,857 |
$2,126,997
$409,324 |
$3,319,536 |
| 24 |
$6,148,723 |
$2,235,358
$429,796 |
$3,483,569 |
| 25 |
$6,456,086 |
$2,349,082
$451,280 |
$3,655,724 |
| 26 |
$6,779,010 |
$2,468,564
$473,853 |
$3,836,593 |
| 27 |
$7,117,894 |
$2,593,951
$497,541 |
$4,026,402 |
| 28 |
$7,473,802 |
$2,725,637
$522,419 |
$4,225,746 |
| 29 |
$7,847,532 |
$2,863,917
$548,542 |
$4,435,073 |
| 30 |
$8,239,882 |
$3,009,087
$575,968 |
$4,654,827 |
|
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