Connecticut Lottery

CTLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jun 17, 2025 is estimated to be $280 Million, with a cash option of 126.1 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 Jun 17, 2025

Draw Date	Jackpot	Cash Option
Tue Jun 17, 2025	$280,000,000	$126,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$126,100,000
Federal Tax(24%)	$30,264,000
Additional Federal Tax	$16,353,330
State Tax(6.99%)	$8,814,390
Net Lumpsum Payment	$70,668,280

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,214,280	-$1,519,614 -$294,578	$2,400,088
2	$4,425,120	-$1,597,625 -$309,316	$2,518,179
3	$4,646,320	-$1,679,469 -$324,778	$2,642,073
4	$4,878,720	-$1,765,457 -$341,023	$2,772,240
5	$5,122,600	-$1,855,692 -$358,070	$2,908,838
6	$5,378,800	-$1,950,486 -$375,978	$3,052,336
7	$5,647,600	-$2,049,942 -$394,767	$3,202,891
8	$5,930,120	-$2,154,475 -$414,515	$3,361,130
9	$6,226,640	-$2,264,187 -$435,242	$3,527,211
10	$6,538,000	-$2,379,390 -$457,006	$3,701,604
11	$6,864,760	-$2,500,292 -$479,847	$3,884,621
12	$7,208,040	-$2,627,305 -$503,842	$4,076,893
13	$7,568,400	-$2,760,638 -$529,031	$4,278,731
14	$7,946,960	-$2,900,706 -$555,493	$4,490,761
15	$8,344,280	-$3,047,714 -$583,265	$4,713,301
16	$8,761,480	-$3,202,078 -$612,427	$4,946,975
17	$9,199,400	-$3,364,108 -$643,038	$5,192,254
18	$9,659,440	-$3,534,323 -$675,195	$5,449,922
19	$10,142,440	-$3,713,033 -$708,957	$5,720,450
20	$10,649,520	-$3,900,653 -$744,401	$6,004,466
21	$11,182,080	-$4,097,700 -$781,627	$6,302,753
22	$11,741,240	-$4,304,589 -$820,713	$6,615,938
23	$12,328,120	-$4,521,735 -$861,736	$6,944,649
24	$12,944,680	-$4,749,862 -$904,833	$7,289,985
25	$13,591,760	-$4,989,282 -$950,064	$7,652,414
26	$14,271,600	-$5,240,822 -$997,585	$8,033,193
27	$14,985,040	-$5,504,795 -$1,047,454	$8,432,791
28	$15,734,320	-$5,782,029 -$1,099,829	$8,852,462
29	$16,521,120	-$6,073,145 -$1,154,826	$9,293,149
30	$17,347,120	-$6,378,765 -$1,212,564	$9,755,791