The jackpot for the Powerball draw on Wed Oct 29, 2025, is projected to be $376 Million, with an option for a cash payout of $179.3 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 Wed Oct 29, 2025 |
|---|
| Draw Date | Wed Oct 29, 2025 | | Projected Jackpot | $376,000,000 | | Cash Value | $179,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $179,300,000 | | Federal Tax(24%) | $43,032,000 | | Additional Federal Tax | $23,269,330 | | State Tax(6.99%) | $12,533,070 | | Net Lumpsum Payment | $100,465,600 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,659,176 |
$2,054,226
$395,576 |
$3,209,374 |
| 2 |
$5,942,304 |
$2,158,983
$415,367 |
$3,367,954 |
| 3 |
$6,239,344 |
$2,268,888
$436,130 |
$3,534,326 |
| 4 |
$6,551,424 |
$2,384,357
$457,945 |
$3,709,122 |
| 5 |
$6,878,920 |
$2,505,531
$480,837 |
$3,892,552 |
| 6 |
$7,222,960 |
$2,632,826
$504,885 |
$4,085,249 |
| 7 |
$7,583,920 |
$2,766,381
$530,116 |
$4,287,423 |
| 8 |
$7,963,304 |
$2,906,753
$556,635 |
$4,499,916 |
| 9 |
$8,361,488 |
$3,054,081
$584,468 |
$4,722,939 |
| 10 |
$8,779,600 |
$3,208,782
$613,694 |
$4,957,124 |
| 11 |
$9,218,392 |
$3,371,135
$644,366 |
$5,202,891 |
| 12 |
$9,679,368 |
$3,541,697
$676,588 |
$5,461,083 |
| 13 |
$10,163,280 |
$3,720,744
$710,413 |
$5,732,123 |
| 14 |
$10,671,632 |
$3,908,834
$745,947 |
$6,016,851 |
| 15 |
$11,205,176 |
$4,106,246
$783,242 |
$6,315,688 |
| 16 |
$11,765,416 |
$4,313,534
$822,403 |
$6,629,479 |
| 17 |
$12,353,480 |
$4,531,118
$863,508 |
$6,958,854 |
| 18 |
$12,971,248 |
$4,759,692
$906,690 |
$7,304,866 |
| 19 |
$13,619,848 |
$4,999,674
$952,027 |
$7,668,147 |
| 20 |
$14,300,784 |
$5,251,620
$999,625 |
$8,049,539 |
| 21 |
$15,015,936 |
$5,516,227
$1,049,614 |
$8,450,095 |
| 22 |
$15,766,808 |
$5,794,049
$1,102,100 |
$8,870,659 |
| 23 |
$16,554,904 |
$6,085,645
$1,157,188 |
$9,312,071 |
| 24 |
$17,382,856 |
$6,391,987
$1,215,062 |
$9,775,807 |
| 25 |
$18,251,792 |
$6,713,493
$1,275,800 |
$10,262,499 |
| 26 |
$19,164,720 |
$7,051,277
$1,339,614 |
$10,773,829 |
| 27 |
$20,122,768 |
$7,405,755
$1,406,581 |
$11,310,432 |
| 28 |
$21,128,944 |
$7,778,040
$1,476,913 |
$11,873,991 |
| 29 |
$22,185,504 |
$8,168,967
$1,550,767 |
$12,465,770 |
| 30 |
$23,294,704 |
$8,579,371
$1,628,300 |
$13,087,033 |
|
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