Connecticut Lottery

CTLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jun 20, 2025 is estimated to be $302 Million, with a cash option of 136 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 Jun 20, 2025

Draw Date	Jackpot	Cash Option
Fri Jun 20, 2025	$302,000,000	$136,000,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$136,000,000
Federal Tax(24%)	$32,640,000
Additional Federal Tax	$17,640,330
State Tax(6.99%)	$9,506,400
Net Lumpsum Payment	$76,213,270

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,545,402	-$1,642,129 -$317,724	$2,585,549
2	$4,772,808	-$1,726,269 -$333,619	$2,712,920
3	$5,011,388	-$1,814,544 -$350,296	$2,846,548
4	$5,262,048	-$1,907,288 -$367,817	$2,986,943
5	$5,525,090	-$2,004,614 -$386,204	$3,134,272
6	$5,801,420	-$2,106,856 -$405,519	$3,289,045
7	$6,091,340	-$2,214,126 -$425,785	$3,451,429
8	$6,396,058	-$2,326,872 -$447,084	$3,622,102
9	$6,715,876	-$2,445,205 -$469,440	$3,801,231
10	$7,051,700	-$2,569,459 -$492,914	$3,989,327
11	$7,404,134	-$2,699,860 -$517,549	$4,186,725
12	$7,774,386	-$2,836,853 -$543,430	$4,394,103
13	$8,163,060	-$2,980,663 -$570,598	$4,611,799
14	$8,571,364	-$3,131,735 -$599,138	$4,840,491
15	$8,999,902	-$3,290,294 -$629,093	$5,080,515
16	$9,449,882	-$3,456,787 -$660,547	$5,332,548
17	$9,922,210	-$3,631,548 -$693,562	$5,597,100
18	$10,418,396	-$3,815,137 -$728,246	$5,875,013
19	$10,939,346	-$4,007,888 -$764,660	$6,166,798
20	$11,486,268	-$4,210,250 -$802,890	$6,473,128
21	$12,060,672	-$4,422,779 -$843,041	$6,794,852
22	$12,663,766	-$4,645,924 -$885,197	$7,132,645
23	$13,296,758	-$4,880,131 -$929,443	$7,487,184
24	$13,961,762	-$5,126,182 -$975,927	$7,859,653
25	$14,659,684	-$5,384,413 -$1,024,712	$8,250,559
26	$15,392,940	-$5,655,718 -$1,075,967	$8,661,255
27	$16,162,436	-$5,940,432 -$1,129,754	$9,092,250
28	$16,970,588	-$6,239,448 -$1,186,244	$9,544,896
29	$17,819,208	-$6,553,437 -$1,245,563	$10,020,208
30	$18,710,108	-$6,883,070 -$1,307,837	$10,519,201