Connecticut Lottery

CTLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Oct 7, 2025 is estimated to be $547 Million, with a cash option of 251.7 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 Oct 7, 2025

Draw Date	Jackpot	Cash Option
Tue Oct 7, 2025	$547,000,000	$251,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$251,700,000
Federal Tax(24%)	$60,408,000
Additional Federal Tax	$32,681,330
State Tax(6.99%)	$17,593,830
Net Lumpsum Payment	$141,016,840

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$8,232,897	-$3,006,502 -$575,480	$4,650,915
2	$8,644,788	-$3,158,902 -$604,271	$4,881,615
3	$9,076,918	-$3,318,790 -$634,477	$5,123,651
4	$9,530,928	-$3,486,774 -$666,212	$5,377,942
5	$10,007,365	-$3,663,055 -$699,515	$5,644,795
6	$10,507,870	-$3,848,242 -$734,500	$5,925,128
7	$11,032,990	-$4,042,537 -$771,206	$6,219,247
8	$11,584,913	-$4,246,748 -$809,785	$6,528,380
9	$12,164,186	-$4,461,079 -$850,277	$6,852,830
10	$12,772,450	-$4,686,137 -$892,794	$7,193,519
11	$13,410,799	-$4,922,326 -$937,415	$7,551,058
12	$14,081,421	-$5,170,456 -$984,291	$7,926,674
13	$14,785,410	-$5,430,932 -$1,033,500	$8,320,978
14	$15,524,954	-$5,704,563 -$1,085,194	$8,735,197
15	$16,301,147	-$5,991,755 -$1,139,450	$9,169,942
16	$17,116,177	-$6,293,316 -$1,196,421	$9,626,440
17	$17,971,685	-$6,609,854 -$1,256,221	$10,105,610
18	$18,870,406	-$6,942,381 -$1,319,041	$10,608,984
19	$19,813,981	-$7,291,503 -$1,384,997	$11,137,481
20	$20,804,598	-$7,658,032 -$1,454,241	$11,692,325
21	$21,844,992	-$8,042,977 -$1,526,965	$12,275,050
22	$22,937,351	-$8,447,150 -$1,603,321	$12,886,880
23	$24,083,863	-$8,871,360 -$1,683,462	$13,529,041
24	$25,288,357	-$9,317,022 -$1,767,656	$14,203,679
25	$26,552,474	-$9,784,746 -$1,856,018	$14,911,710
26	$27,880,590	-$10,276,149 -$1,948,853	$15,655,588
27	$29,274,346	-$10,791,838 -$2,046,277	$16,436,231
28	$30,738,118	-$11,333,434 -$2,148,594	$17,256,090
29	$32,275,188	-$11,902,150 -$2,256,036	$18,117,002
30	$33,888,838	-$12,499,200 -$2,368,830	$19,020,808