6.99% state lottery tax
Connecticut Powerball Tax Calculator
Last updated:
Connecticut applies a 6.99% state lottery tax. Combined with the 24% federal withholding and the top-bracket federal adjustment, the effective tax on a large jackpot lands around 38–42%.
Note: Highest-bracket 6.99% applied to lottery
Connecticut after-tax take-home by jackpot tier
24% federal withholding + top-bracket adjustment + state tax. Cash lump sum estimated at 60% of advertised jackpot.
| Advertised | Cash take-home | Cash effective | Annuity take-home |
|---|---|---|---|
| $100M | $33.7M | 43.85% | $56.1M |
| $300M | $100.9M | 43.94% | $168.1M |
| $500M | $168.1M | 43.96% | $280.1M |
| $700M | $235.3M | 43.97% | $392.2M |
| $1B | $336.1M | 43.98% | $560.2M |
| $1.5B | $504.2M | 43.98% | $840.2M |
| $2B | $672.2M | 43.98% | $1.1B |
Connecticut vs neighboring states ($1B cash)
| State | Rate | Cash take-home |
|---|---|---|
| Connecticut (CT) | 6.99% | $336.1M |
| New York (NY) | 10.9% | $312.7M |
| Massachusetts (MA) | 5% | $348.1M |
| Rhode Island (RI) | 5.99% | $342.1M |