Connecticut Lottery

CTLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Apr 1, 2025 is estimated to be $29 Million, with a cash option of 13.3 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 Tue Apr 1, 2025

Draw Date	Jackpot	Cash Option
Tue Apr 1, 2025	$29,000,000	$13,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$13,300,000
Federal Tax(24%)	$3,192,000
Additional Federal Tax	$1,689,330
State Tax(6.99%)	$929,670
Net Lumpsum Payment	$7,489,000

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$436,479	-$121,828 -$30,510	$284,141
2	$458,316	-$129,907 -$32,036	$296,373
3	$481,226	-$138,384 -$33,638	$309,204
4	$505,296	-$147,290 -$35,320	$322,686
5	$530,555	-$156,636 -$37,086	$336,833
6	$557,090	-$166,454 -$38,941	$351,695
7	$584,930	-$176,754 -$40,887	$367,289
8	$614,191	-$187,581 -$42,932	$383,678
9	$644,902	-$198,944 -$45,079	$400,879
10	$677,150	-$210,876 -$47,333	$418,941
11	$710,993	-$223,398 -$49,698	$437,897
12	$746,547	-$236,553 -$52,184	$457,810
13	$783,870	-$250,362 -$54,793	$478,715
14	$823,078	-$264,869 -$57,533	$500,676
15	$864,229	-$280,095 -$60,410	$523,724
16	$907,439	-$296,083 -$63,430	$547,926
17	$952,795	-$312,865 -$66,600	$573,330
18	$1,000,442	-$330,494 -$69,931	$600,017
19	$1,050,467	-$349,003 -$73,428	$628,036
20	$1,102,986	-$368,435 -$77,099	$657,452
21	$1,158,144	-$388,844 -$80,954	$688,346
22	$1,216,057	-$410,271 -$85,002	$720,784
23	$1,276,841	-$432,762 -$89,251	$754,828
24	$1,340,699	-$456,389 -$93,715	$790,595
25	$1,407,718	-$481,186 -$98,399	$828,133
26	$1,478,130	-$507,238 -$103,321	$867,571
27	$1,552,022	-$534,579 -$108,486	$908,957
28	$1,629,626	-$563,292 -$113,911	$952,423
29	$1,711,116	-$593,443 -$119,607	$998,066
30	$1,796,666	-$625,097 -$125,587	$1,045,982