Connecticut Lottery

CTLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jul 7, 2026 is estimated to be $576 Million, with a cash option of 253.9 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 Jul 7, 2026

Draw Date	Jackpot	Cash Option
Tue Jul 7, 2026	$576,000,000	$253,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$253,900,000
Federal Tax(24%)	$60,936,000
Additional Federal Tax	$32,967,330
State Tax(6.99%)	$17,747,610
Net Lumpsum Payment	$142,249,060

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$8,669,376	-$3,168,000 -$605,989	$4,895,387
2	$9,103,104	-$3,328,479 -$636,307	$5,138,318
3	$9,558,144	-$3,496,844 -$668,114	$5,393,186
4	$10,036,224	-$3,673,733 -$701,532	$5,660,959
5	$10,537,920	-$3,859,361 -$736,601	$5,941,958
6	$11,064,960	-$4,054,366 -$773,441	$6,237,153
7	$11,617,920	-$4,258,961 -$812,093	$6,546,866
8	$12,199,104	-$4,473,999 -$852,717	$6,872,388
9	$12,809,088	-$4,699,693 -$895,355	$7,214,040
10	$13,449,600	-$4,936,682 -$940,127	$7,572,791
11	$14,121,792	-$5,185,393 -$987,113	$7,949,286
12	$14,827,968	-$5,446,679 -$1,036,475	$8,344,814
13	$15,569,280	-$5,720,964 -$1,088,293	$8,760,023
14	$16,348,032	-$6,009,102 -$1,142,727	$9,196,203
15	$17,165,376	-$6,311,520 -$1,199,860	$9,653,996
16	$18,023,616	-$6,629,068 -$1,259,851	$10,134,697
17	$18,924,480	-$6,962,388 -$1,322,821	$10,639,271
18	$19,870,848	-$7,312,544 -$1,388,972	$11,169,332
19	$20,864,448	-$7,680,176 -$1,458,425	$11,725,847
20	$21,907,584	-$8,066,136 -$1,531,340	$12,310,108
21	$23,003,136	-$8,471,491 -$1,607,919	$12,923,726
22	$24,153,408	-$8,897,091 -$1,688,323	$13,567,994
23	$25,360,704	-$9,343,791 -$1,772,713	$14,244,200
24	$26,629,056	-$9,813,081 -$1,861,371	$14,954,604
25	$27,960,192	-$10,305,601 -$1,954,417	$15,700,174
26	$29,358,720	-$10,823,057 -$2,052,175	$16,483,488
27	$30,826,368	-$11,366,087 -$2,154,763	$17,305,518
28	$32,367,744	-$11,936,396 -$2,262,505	$18,168,843
29	$33,986,304	-$12,535,263 -$2,375,643	$19,075,398
30	$35,685,504	-$13,163,967 -$2,494,417	$20,027,120