Connecticut Lottery

CTLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Oct 6, 2026 is estimated to be $345 Million, with a cash option of 139.6 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 6, 2026

Draw Date	Jackpot	Cash Option
Tue Oct 6, 2026	$345,000,000	$139,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$139,600,000
Federal Tax(24%)	$33,504,000
Additional Federal Tax	$18,108,330
State Tax(6.99%)	$9,758,040
Net Lumpsum Payment	$78,229,630

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,192,595	-$1,881,591 -$362,962	$2,948,042
2	$5,452,380	-$1,977,711 -$381,121	$3,093,548
3	$5,724,930	-$2,078,554 -$400,173	$3,246,203
4	$6,011,280	-$2,184,504 -$420,188	$3,406,588
5	$6,311,775	-$2,295,687 -$441,193	$3,574,895
6	$6,627,450	-$2,412,487 -$463,259	$3,751,704
7	$6,958,650	-$2,535,031 -$486,410	$3,937,209
8	$7,306,755	-$2,663,830 -$510,742	$4,132,183
9	$7,672,110	-$2,799,011 -$536,280	$4,336,819
10	$8,055,750	-$2,940,958 -$563,097	$4,551,695
11	$8,458,365	-$3,089,925 -$591,240	$4,777,200
12	$8,881,335	-$3,246,424 -$620,805	$5,014,106
13	$9,325,350	-$3,410,710 -$651,842	$5,262,798
14	$9,791,790	-$3,583,293 -$684,446	$5,524,051
15	$10,281,345	-$3,764,428 -$718,666	$5,798,251
16	$10,795,395	-$3,954,627 -$754,598	$6,086,170
17	$11,334,975	-$4,154,271 -$792,315	$6,388,389
18	$11,901,810	-$4,364,000 -$831,937	$6,705,873
19	$12,496,935	-$4,584,196 -$873,536	$7,039,203
20	$13,121,730	-$4,815,370 -$917,209	$7,389,151
21	$13,777,920	-$5,058,161 -$963,077	$7,756,682
22	$14,466,885	-$5,313,078 -$1,011,235	$8,142,572
23	$15,190,005	-$5,580,632 -$1,061,781	$8,547,592
24	$15,949,695	-$5,861,718 -$1,114,884	$8,973,093
25	$16,746,990	-$6,156,717 -$1,170,615	$9,419,658
26	$17,584,650	-$6,466,651 -$1,229,167	$9,888,832
27	$18,463,710	-$6,791,903 -$1,290,613	$10,381,194
28	$19,386,930	-$7,133,494 -$1,355,146	$10,898,290
29	$20,356,380	-$7,492,191 -$1,422,911	$11,441,278
30	$21,374,130	-$7,868,758 -$1,494,052	$12,011,320