The jackpot for the Powerball draw on Wed Mar 18, 2026, is projected to be $101 Million, with an option for a cash payout of $46 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 Mar 18, 2026 |
|---|
| Draw Date | Wed Mar 18, 2026 | | Projected Jackpot | $101,000,000 | | Cash Value | $46,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $46,000,000 | | Federal Tax(24%) | $11,040,000 | | Additional Federal Tax | $5,940,330 | | State Tax(6.99%) | $3,215,400 | | Net Lumpsum Payment | $25,804,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,520,151 |
$522,786
$106,259 |
$891,106 |
| 2 |
$1,596,204 |
$550,926
$111,575 |
$933,703 |
| 3 |
$1,675,994 |
$580,448
$117,152 |
$978,394 |
| 4 |
$1,759,824 |
$611,465
$123,012 |
$1,025,347 |
| 5 |
$1,847,795 |
$644,015
$129,161 |
$1,074,619 |
| 6 |
$1,940,210 |
$678,208
$135,621 |
$1,126,381 |
| 7 |
$2,037,170 |
$714,083
$142,398 |
$1,180,689 |
| 8 |
$2,139,079 |
$751,790
$149,522 |
$1,237,767 |
| 9 |
$2,246,038 |
$791,364
$156,998 |
$1,297,676 |
| 10 |
$2,358,350 |
$832,920
$164,849 |
$1,360,581 |
| 11 |
$2,476,217 |
$876,531
$173,088 |
$1,426,598 |
| 12 |
$2,600,043 |
$922,346
$181,743 |
$1,495,954 |
| 13 |
$2,730,030 |
$970,441
$190,829 |
$1,568,760 |
| 14 |
$2,866,582 |
$1,020,966
$200,374 |
$1,645,242 |
| 15 |
$3,009,901 |
$1,073,994
$210,392 |
$1,725,515 |
| 16 |
$3,160,391 |
$1,129,675
$220,911 |
$1,809,805 |
| 17 |
$3,318,355 |
$1,188,122
$231,953 |
$1,898,280 |
| 18 |
$3,484,298 |
$1,249,521
$243,552 |
$1,991,225 |
| 19 |
$3,658,523 |
$1,313,984
$255,731 |
$2,088,808 |
| 20 |
$3,841,434 |
$1,381,661
$268,516 |
$2,191,257 |
| 21 |
$4,033,536 |
$1,452,739
$281,944 |
$2,298,853 |
| 22 |
$4,235,233 |
$1,527,367
$296,043 |
$2,411,823 |
| 23 |
$4,446,929 |
$1,605,694
$310,840 |
$2,530,395 |
| 24 |
$4,669,331 |
$1,687,983
$326,386 |
$2,654,962 |
| 25 |
$4,902,742 |
$1,774,345
$342,702 |
$2,785,695 |
| 26 |
$5,147,970 |
$1,865,079
$359,843 |
$2,923,048 |
| 27 |
$5,405,318 |
$1,960,298
$377,832 |
$3,067,188 |
| 28 |
$5,675,594 |
$2,060,300
$396,724 |
$3,218,570 |
| 29 |
$5,959,404 |
$2,165,310
$416,562 |
$3,377,532 |
| 30 |
$6,257,354 |
$2,275,551
$437,389 |
$3,544,414 |
|
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