Connecticut Lottery

CTLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri May 9, 2025 is estimated to be $100 Million, with a cash option of 45.3 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 Fri May 9, 2025

Draw Date	Jackpot	Cash Option
Fri May 9, 2025	$100,000,000	$45,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$45,300,000
Federal Tax(24%)	$10,872,000
Additional Federal Tax	$5,849,330
State Tax(6.99%)	$3,166,470
Net Lumpsum Payment	$25,412,200

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,505,100	-$517,217 -$105,206	$882,677
2	$1,580,400	-$545,078 -$110,470	$924,852
3	$1,659,400	-$574,308 -$115,992	$969,100
4	$1,742,400	-$605,018 -$121,794	$1,015,588
5	$1,829,500	-$637,245 -$127,882	$1,064,373
6	$1,921,000	-$671,100 -$134,278	$1,115,622
7	$2,017,000	-$706,620 -$140,988	$1,169,392
8	$2,117,900	-$743,953 -$148,041	$1,225,906
9	$2,223,800	-$783,136 -$155,444	$1,285,220
10	$2,335,000	-$824,280 -$163,217	$1,347,503
11	$2,451,700	-$867,459 -$171,374	$1,412,867
12	$2,574,300	-$912,821 -$179,944	$1,481,535
13	$2,703,000	-$960,440 -$188,940	$1,553,620
14	$2,838,200	-$1,010,464 -$198,390	$1,629,346
15	$2,980,100	-$1,062,967 -$208,309	$1,708,824
16	$3,129,100	-$1,118,097 -$218,724	$1,792,279
17	$3,285,500	-$1,175,965 -$229,656	$1,879,879
18	$3,449,800	-$1,236,756 -$241,141	$1,971,903
19	$3,622,300	-$1,300,581 -$253,199	$2,068,520
20	$3,803,400	-$1,367,588 -$265,858	$2,169,954
21	$3,993,600	-$1,437,962 -$279,153	$2,276,485
22	$4,193,300	-$1,511,851 -$293,112	$2,388,337
23	$4,402,900	-$1,589,403 -$307,763	$2,505,734
24	$4,623,100	-$1,670,877 -$323,155	$2,629,068
25	$4,854,200	-$1,756,384 -$339,309	$2,758,507
26	$5,097,000	-$1,846,220 -$356,280	$2,894,500
27	$5,351,800	-$1,940,496 -$374,091	$3,037,213
28	$5,619,400	-$2,039,508 -$392,796	$3,187,096
29	$5,900,400	-$2,143,478 -$412,438	$3,344,484
30	$6,195,400	-$2,252,628 -$433,058	$3,509,714