The jackpot for the Powerball draw on Mon May 11, 2026, is projected to be $57 Million, with an option for a cash payout of $25.7 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 May 11, 2026 |
|---|
| Draw Date | Mon May 11, 2026 | | Projected Jackpot | $57,000,000 | | Cash Value | $25,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $25,700,000 | | Federal Tax(24%) | $6,168,000 | | Additional Federal Tax | $3,301,330 | | State Tax(6.99%) | $1,796,430 | | Net Lumpsum Payment | $14,434,240 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$857,907 |
$277,756
$59,968 |
$520,183 |
| 2 |
$900,828 |
$293,637
$62,968 |
$544,223 |
| 3 |
$945,858 |
$310,298
$66,115 |
$569,445 |
| 4 |
$993,168 |
$327,803
$69,422 |
$595,943 |
| 5 |
$1,042,815 |
$346,172
$72,893 |
$623,750 |
| 6 |
$1,094,970 |
$365,469
$76,538 |
$652,963 |
| 7 |
$1,149,690 |
$385,716
$80,363 |
$683,611 |
| 8 |
$1,207,203 |
$406,995
$84,383 |
$715,825 |
| 9 |
$1,267,566 |
$429,330
$88,603 |
$749,633 |
| 10 |
$1,330,950 |
$452,782
$93,033 |
$785,135 |
| 11 |
$1,397,469 |
$477,394
$97,683 |
$822,392 |
| 12 |
$1,467,351 |
$503,250
$102,568 |
$861,533 |
| 13 |
$1,540,710 |
$530,393
$107,696 |
$902,621 |
| 14 |
$1,617,774 |
$558,907
$113,082 |
$945,785 |
| 15 |
$1,698,657 |
$588,833
$118,736 |
$991,088 |
| 16 |
$1,783,587 |
$620,258
$124,673 |
$1,038,656 |
| 17 |
$1,872,735 |
$653,242
$130,904 |
$1,088,589 |
| 18 |
$1,966,386 |
$687,893
$137,450 |
$1,141,043 |
| 19 |
$2,064,711 |
$724,273
$144,323 |
$1,196,115 |
| 20 |
$2,167,938 |
$762,467
$151,539 |
$1,253,932 |
| 21 |
$2,276,352 |
$802,581
$159,117 |
$1,314,654 |
| 22 |
$2,390,181 |
$844,697
$167,074 |
$1,378,410 |
| 23 |
$2,509,653 |
$888,902
$175,425 |
$1,445,326 |
| 24 |
$2,635,167 |
$935,342
$184,198 |
$1,515,627 |
| 25 |
$2,766,894 |
$984,081
$193,406 |
$1,589,407 |
| 26 |
$2,905,290 |
$1,035,288
$203,080 |
$1,666,922 |
| 27 |
$3,050,526 |
$1,089,025
$213,232 |
$1,748,269 |
| 28 |
$3,203,058 |
$1,145,462
$223,894 |
$1,833,702 |
| 29 |
$3,363,228 |
$1,204,725
$235,090 |
$1,923,413 |
| 30 |
$3,531,378 |
$1,266,940
$246,843 |
$2,017,595 |
|
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