Connecticut Lottery

CTLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 25, 2026 is estimated to be $130 Million, with a cash option of 55.5 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 Aug 25, 2026

Draw Date	Jackpot	Cash Option
Tue Aug 25, 2026	$130,000,000	$55,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$55,500,000
Federal Tax(24%)	$13,320,000
Additional Federal Tax	$7,175,330
State Tax(6.99%)	$3,879,450
Net Lumpsum Payment	$31,125,220

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,956,630	-$684,283 -$136,768	$1,135,579
2	$2,054,520	-$720,503 -$143,611	$1,190,406
3	$2,157,220	-$758,502 -$150,790	$1,247,928
4	$2,265,120	-$798,425 -$158,332	$1,308,363
5	$2,378,350	-$840,320 -$166,247	$1,371,783
6	$2,497,300	-$884,331 -$174,561	$1,438,408
7	$2,622,100	-$930,507 -$183,285	$1,508,308
8	$2,753,270	-$979,040 -$192,454	$1,581,776
9	$2,890,940	-$1,029,978 -$202,077	$1,658,885
10	$3,035,500	-$1,083,465 -$212,181	$1,739,854
11	$3,187,210	-$1,139,598 -$222,786	$1,824,826
12	$3,346,590	-$1,198,569 -$233,927	$1,914,094
13	$3,513,900	-$1,260,473 -$245,622	$2,007,805
14	$3,689,660	-$1,325,505 -$257,907	$2,106,248
15	$3,874,130	-$1,393,758 -$270,802	$2,209,570
16	$4,067,830	-$1,465,427 -$284,341	$2,318,062
17	$4,271,150	-$1,540,656 -$298,553	$2,431,941
18	$4,484,740	-$1,619,684 -$313,483	$2,551,573
19	$4,708,990	-$1,702,657 -$329,158	$2,677,175
20	$4,944,420	-$1,789,766 -$345,615	$2,809,039
21	$5,191,680	-$1,881,252 -$362,898	$2,947,530
22	$5,451,290	-$1,977,308 -$381,045	$3,092,937
23	$5,723,770	-$2,078,125 -$400,092	$3,245,553
24	$6,010,030	-$2,184,041 -$420,101	$3,405,888
25	$6,310,460	-$2,295,201 -$441,101	$3,574,158
26	$6,626,100	-$2,411,987 -$463,164	$3,750,949
27	$6,957,340	-$2,534,546 -$486,318	$3,936,476
28	$7,305,220	-$2,663,262 -$510,635	$4,131,323
29	$7,670,520	-$2,798,423 -$536,169	$4,335,928
30	$8,054,020	-$2,940,318 -$562,976	$4,550,726