Connecticut Lottery

CTLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 26, 2025 is estimated to be $253 Million, with a cash option of 113.8 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 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 26, 2025

Draw Date	Jackpot	Cash Option
Tue Aug 26, 2025	$253,000,000	$113,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$113,800,000
Federal Tax(24%)	$27,312,000
Additional Federal Tax	$14,754,330
State Tax(6.99%)	$7,954,620
Net Lumpsum Payment	$63,779,050

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,807,903	-$1,369,254 -$266,172	$2,172,477
2	$3,998,412	-$1,439,743 -$279,489	$2,279,180
3	$4,198,282	-$1,513,695 -$293,460	$2,391,127
4	$4,408,272	-$1,591,391 -$308,138	$2,508,743
5	$4,628,635	-$1,672,925 -$323,542	$2,632,168
6	$4,860,130	-$1,758,578 -$339,723	$2,761,829
7	$5,103,010	-$1,848,444 -$356,700	$2,897,866
8	$5,358,287	-$1,942,897 -$374,544	$3,040,846
9	$5,626,214	-$2,042,030 -$393,272	$3,190,912
10	$5,907,550	-$2,146,124 -$412,938	$3,348,488
11	$6,202,801	-$2,255,367 -$433,576	$3,513,858
12	$6,512,979	-$2,370,133 -$455,257	$3,687,589
13	$6,838,590	-$2,490,609 -$478,017	$3,869,964
14	$7,180,646	-$2,617,169 -$501,927	$4,061,550
15	$7,539,653	-$2,750,002 -$527,022	$4,262,629
16	$7,916,623	-$2,889,481 -$553,372	$4,473,770
17	$8,312,315	-$3,035,887 -$581,031	$4,695,397
18	$8,727,994	-$3,189,688 -$610,087	$4,928,219
19	$9,164,419	-$3,351,165 -$640,593	$5,172,661
20	$9,622,602	-$3,520,693 -$672,620	$5,429,289
21	$10,103,808	-$3,698,739 -$706,256	$5,698,813
22	$10,609,049	-$3,885,679 -$741,573	$5,981,797
23	$11,139,337	-$4,081,885 -$778,640	$6,278,812
24	$11,696,443	-$4,288,014 -$817,581	$6,590,848
25	$12,281,126	-$4,504,347 -$858,451	$6,918,328
26	$12,895,410	-$4,731,632 -$901,389	$7,262,389
27	$13,540,054	-$4,970,150 -$946,450	$7,623,454
28	$14,217,082	-$5,220,651 -$993,774	$8,002,657
29	$14,928,012	-$5,483,695 -$1,043,468	$8,400,849
30	$15,674,362	-$5,759,844 -$1,095,638	$8,818,880