Connecticut Lottery

CTLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue May 12, 2026 is estimated to be $232 Million, with a cash option of 103.8 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 May 12, 2026

Draw Date	Jackpot	Cash Option
Tue May 12, 2026	$232,000,000	$103,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$103,800,000
Federal Tax(24%)	$24,912,000
Additional Federal Tax	$13,454,330
State Tax(6.99%)	$7,255,620
Net Lumpsum Payment	$58,178,050

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,491,832	-$1,252,308 -$244,079	$1,995,445
2	$3,666,528	-$1,316,946 -$256,290	$2,093,292
3	$3,849,808	-$1,384,759 -$269,102	$2,195,947
4	$4,042,368	-$1,456,007 -$282,562	$2,303,799
5	$4,244,440	-$1,530,773 -$296,686	$2,416,981
6	$4,456,720	-$1,609,317 -$311,525	$2,535,878
7	$4,679,440	-$1,691,723 -$327,093	$2,660,624
8	$4,913,528	-$1,778,336 -$343,456	$2,791,736
9	$5,159,216	-$1,869,240 -$360,629	$2,929,347
10	$5,417,200	-$1,964,694 -$378,662	$3,073,844
11	$5,687,944	-$2,064,870 -$397,587	$3,225,487
12	$5,972,376	-$2,170,110 -$417,469	$3,384,797
13	$6,270,960	-$2,280,586 -$438,340	$3,552,034
14	$6,584,624	-$2,396,641 -$460,265	$3,727,718
15	$6,913,832	-$2,518,448 -$483,277	$3,912,107
16	$7,259,512	-$2,646,350 -$507,440	$4,105,722
17	$7,622,360	-$2,780,604 -$532,803	$4,308,953
18	$8,003,536	-$2,921,639 -$559,447	$4,522,450
19	$8,403,736	-$3,069,713 -$587,421	$4,746,602
20	$8,823,888	-$3,225,169 -$616,790	$4,981,929
21	$9,265,152	-$3,388,437 -$647,634	$5,229,081
22	$9,728,456	-$3,559,859 -$680,019	$5,488,578
23	$10,214,728	-$3,739,780 -$714,009	$5,760,939
24	$10,725,592	-$3,928,799 -$749,719	$6,047,074
25	$11,261,744	-$4,127,176 -$787,196	$6,347,372
26	$11,825,040	-$4,335,595 -$826,570	$6,662,875
27	$12,416,176	-$4,554,316 -$867,891	$6,993,969
28	$13,037,008	-$4,784,023 -$911,287	$7,341,698
29	$13,688,928	-$5,025,234 -$956,856	$7,706,838
30	$14,373,328	-$5,278,462 -$1,004,696	$8,090,170