The jackpot for the Powerball draw on Mon Jun 30, 2025, is projected to be $162 Million, with an option for a cash payout of $74.2 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 Jun 30, 2025 |
|---|
| Draw Date | Mon Jun 30, 2025 | | Projected Jackpot | $162,000,000 | | Cash Value | $74,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $74,200,000 | | Federal Tax(24%) | $17,808,000 | | Additional Federal Tax | $9,606,330 | | State Tax(6.99%) | $5,186,580 | | Net Lumpsum Payment | $41,599,090 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,438,262 |
$862,487
$170,435 |
$1,405,340 |
| 2 |
$2,560,248 |
$907,622
$178,961 |
$1,473,665 |
| 3 |
$2,688,228 |
$954,975
$187,907 |
$1,545,346 |
| 4 |
$2,822,688 |
$1,004,725
$197,306 |
$1,620,657 |
| 5 |
$2,963,790 |
$1,056,933
$207,169 |
$1,699,688 |
| 6 |
$3,112,020 |
$1,111,778
$217,530 |
$1,782,712 |
| 7 |
$3,267,540 |
$1,169,320
$228,401 |
$1,869,819 |
| 8 |
$3,430,998 |
$1,229,800
$239,827 |
$1,961,371 |
| 9 |
$3,602,556 |
$1,293,276
$251,819 |
$2,057,461 |
| 10 |
$3,782,700 |
$1,359,929
$264,411 |
$2,158,360 |
| 11 |
$3,971,754 |
$1,429,879
$277,626 |
$2,264,249 |
| 12 |
$4,170,366 |
$1,503,366
$291,509 |
$2,375,491 |
| 13 |
$4,378,860 |
$1,580,509
$306,082 |
$2,492,269 |
| 14 |
$4,597,884 |
$1,661,547
$321,392 |
$2,614,945 |
| 15 |
$4,827,762 |
$1,746,602
$337,461 |
$2,743,699 |
| 16 |
$5,069,142 |
$1,835,913
$354,333 |
$2,878,896 |
| 17 |
$5,322,510 |
$1,929,659
$372,043 |
$3,020,808 |
| 18 |
$5,588,676 |
$2,028,141
$390,648 |
$3,169,887 |
| 19 |
$5,868,126 |
$2,131,537
$410,182 |
$3,326,407 |
| 20 |
$6,161,508 |
$2,240,088
$430,689 |
$3,490,731 |
| 21 |
$6,469,632 |
$2,354,094
$452,227 |
$3,663,311 |
| 22 |
$6,793,146 |
$2,473,794
$474,841 |
$3,844,511 |
| 23 |
$7,132,698 |
$2,599,429
$498,576 |
$4,034,693 |
| 24 |
$7,489,422 |
$2,731,417
$523,511 |
$4,234,494 |
| 25 |
$7,863,804 |
$2,869,938
$549,680 |
$4,444,186 |
| 26 |
$8,257,140 |
$3,015,472
$577,174 |
$4,664,494 |
| 27 |
$8,669,916 |
$3,168,199
$606,027 |
$4,895,690 |
| 28 |
$9,103,428 |
$3,328,599
$636,330 |
$5,138,499 |
| 29 |
$9,558,648 |
$3,497,030
$668,149 |
$5,393,469 |
| 30 |
$10,036,548 |
$3,673,853
$701,555 |
$5,661,140 |
|
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