Connecticut Lottery

CTLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Oct 14, 2025 is estimated to be $600 Million, with a cash option of 277.2 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Connecticut, your state will take 6.99% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Connecticut MEGA Millions Jackpot/Cash Option for Tue Oct 14, 2025

Draw Date	Jackpot	Cash Option
Tue Oct 14, 2025	$600,000,000	$277,200,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$277,200,000
Federal Tax(24%)	$66,528,000
Additional Federal Tax	$35,996,330
State Tax(6.99%)	$19,376,280
Net Lumpsum Payment	$155,299,390

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$9,030,600	-$3,301,652 -$631,239	$5,097,709
2	$9,482,400	-$3,468,818 -$662,820	$5,350,762
3	$9,956,400	-$3,644,198 -$695,952	$5,616,250
4	$10,454,400	-$3,828,458 -$730,763	$5,895,179
5	$10,977,000	-$4,021,820 -$767,292	$6,187,888
6	$11,526,000	-$4,224,950 -$805,667	$6,495,383
7	$12,102,000	-$4,438,070 -$845,930	$6,818,000
8	$12,707,400	-$4,662,068 -$888,247	$7,157,085
9	$13,342,800	-$4,897,166 -$932,662	$7,512,972
10	$14,010,000	-$5,144,030 -$979,299	$7,886,671
11	$14,710,200	-$5,403,104 -$1,028,243	$8,278,853
12	$15,445,800	-$5,675,276 -$1,079,661	$8,690,863
13	$16,218,000	-$5,960,990 -$1,133,638	$9,123,372
14	$17,029,200	-$6,261,134 -$1,190,341	$9,577,725
15	$17,880,600	-$6,576,152 -$1,249,854	$10,054,594
16	$18,774,600	-$6,906,932 -$1,312,345	$10,555,323
17	$19,713,000	-$7,254,140 -$1,377,939	$11,080,921
18	$20,698,800	-$7,618,886 -$1,446,846	$11,633,068
19	$21,733,800	-$8,001,836 -$1,519,193	$12,212,771
20	$22,820,400	-$8,403,878 -$1,595,146	$12,821,376
21	$23,961,600	-$8,826,122 -$1,674,916	$13,460,562
22	$25,159,800	-$9,269,456 -$1,758,670	$14,131,674
23	$26,417,400	-$9,734,768 -$1,846,576	$14,836,056
24	$27,738,600	-$10,223,612 -$1,938,928	$15,576,060
25	$29,125,200	-$10,736,654 -$2,035,851	$16,352,695
26	$30,582,000	-$11,275,670 -$2,137,682	$17,168,648
27	$32,110,800	-$11,841,326 -$2,244,545	$18,024,929
28	$33,716,400	-$12,435,398 -$2,356,776	$18,924,226
29	$35,402,400	-$13,059,218 -$2,474,628	$19,868,554
30	$37,172,400	-$13,714,118 -$2,598,351	$20,859,931