$1.3 Billion Powerball: What It Adds Up To In Connecticut

With no jackpot winner in Saturday night’s near $950 million Powerball drawing, the stakes for Wednesday have crossed the $1 billion mark. With an anticipated $1.3 billion now on the line, the jackpot in the multistate lottery is officially the highest in history.

But, just how much would that $1.3 billion really add up to after the government gets its share?

The folks at USAMega.com crunched the numbers for each of the states that participate in Powerball, including Connecticut. After factoring in a 6.7 percent state tax and a 25 percent federal tax, the site’s analysts say if a Connecticut resident happens to pick Wednesday night’s numbers, he or she would be $550.5 million richer if a lump sum payout were selected. The annuity payout over 30 years would net a Nutmegger an average of $29.6 million a year. The total payout over 30 years is estimated at $887.9 million.

See Also:

• Check Your Powerball Tickets: $1 Million and $2 Million Winners in Connecticut
• Powerball Jackpot Climbs to $1.3 Billion After No One Matches Winning Numbers Jan. 9
• Playing The Powerball With Co-Workers, Friends: What To Know
• Connecticut Man Wins $1 Million Powerball Prize

While no jackpot winners have resulted from Saturday’s drawing, two winning tickets worth $1 million and $2 million were sold in the state, according to CT Lottery. Previously, a Groton man won $1 million at the Jan. 2 drawing.

Wednesday’s $1.3 billion drawing takes place at 10:59 p.m. Ticket sales stop at least 59 minutes before the drawing.

Powerball is played in 44 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands.

What would you do with that much money? Tell us by commenting below!