Connecticut Lottery

CTLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 5, 2025 is estimated to be $150 Million, with a cash option of 67.9 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 MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Connecticut MEGA Millions Jackpot/Cash Option for Tue Aug 5, 2025

Draw Date	Jackpot	Cash Option
Tue Aug 5, 2025	$150,000,000	$67,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$67,900,000
Federal Tax(24%)	$16,296,000
Additional Federal Tax	$8,787,330
State Tax(6.99%)	$4,746,210
Net Lumpsum Payment	$38,070,460

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,257,650	-$795,661 -$157,810	$1,304,179
2	$2,370,600	-$837,452 -$165,705	$1,367,443
3	$2,489,100	-$881,297 -$173,988	$1,433,815
4	$2,613,600	-$927,362 -$182,691	$1,503,547
5	$2,744,250	-$975,703 -$191,823	$1,576,724
6	$2,881,500	-$1,026,485 -$201,417	$1,653,598
7	$3,025,500	-$1,079,765 -$211,482	$1,734,253
8	$3,176,850	-$1,135,765 -$222,062	$1,819,023
9	$3,335,700	-$1,194,539 -$233,165	$1,907,996
10	$3,502,500	-$1,256,255 -$244,825	$2,001,420
11	$3,677,550	-$1,321,024 -$257,061	$2,099,465
12	$3,861,450	-$1,389,067 -$269,915	$2,202,468
13	$4,054,500	-$1,460,495 -$283,410	$2,310,595
14	$4,257,300	-$1,535,531 -$297,585	$2,424,184
15	$4,470,150	-$1,614,286 -$312,463	$2,543,401
16	$4,693,650	-$1,696,981 -$328,086	$2,668,583
17	$4,928,250	-$1,783,783 -$344,485	$2,799,982
18	$5,174,700	-$1,874,969 -$361,712	$2,938,019
19	$5,433,450	-$1,970,707 -$379,798	$3,082,945
20	$5,705,100	-$2,071,217 -$398,786	$3,235,097
21	$5,990,400	-$2,176,778 -$418,729	$3,394,893
22	$6,289,950	-$2,287,612 -$439,668	$3,562,670
23	$6,604,350	-$2,403,940 -$461,644	$3,738,766
24	$6,934,650	-$2,526,151 -$484,732	$3,923,767
25	$7,281,300	-$2,654,411 -$508,963	$4,117,926
26	$7,645,500	-$2,789,165 -$534,420	$4,321,915
27	$8,027,700	-$2,930,579 -$561,136	$4,535,985
28	$8,429,100	-$3,079,097 -$589,194	$4,760,809
29	$8,850,600	-$3,235,052 -$618,657	$4,996,891
30	$9,293,100	-$3,398,777 -$649,588	$5,244,735