Connecticut Lottery

CTLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jul 11, 2025 is estimated to be $80 Million, with a cash option of 35.8 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 Fri Jul 11, 2025

Draw Date Jackpot Cash Option
Fri Jul 11, 2025$80,000,000$35,800,000

Lumpsum Option Taxes and Payment

Category Amount
Cash Gross Payment$35,800,000
Federal Tax(24%)$8,592,000
Additional Federal Tax$4,614,330
State Tax(6.99%)$2,502,420
Net Lumpsum Payment$20,091,250

Annuity Payment in 30 Installations

Year Gross Payment Fed/State Tax Net Payment
1 $1,204,080 -$405,840
-$84,165
$714,075
2 $1,264,320 -$428,129
-$88,376
$747,815
3 $1,327,520 -$451,513
-$92,794
$783,213
4 $1,393,920 -$476,081
-$97,435
$820,404
5 $1,463,600 -$501,862
-$102,306
$859,432
6 $1,536,800 -$528,946
-$107,422
$900,432
7 $1,613,600 -$557,362
-$112,791
$943,447
8 $1,694,320 -$587,229
-$118,433
$988,658
9 $1,779,040 -$618,575
-$124,355
$1,036,110
10 $1,868,000 -$651,490
-$130,573
$1,085,937
11 $1,961,360 -$686,034
-$137,099
$1,138,227
12 $2,059,440 -$722,323
-$143,955
$1,193,162
13 $2,162,400 -$760,418
-$151,152
$1,250,830
14 $2,270,560 -$800,438
-$158,712
$1,311,410
15 $2,384,080 -$842,440
-$166,647
$1,374,993
16 $2,503,280 -$886,544
-$174,979
$1,441,757
17 $2,628,400 -$932,838
-$183,725
$1,511,837
18 $2,759,840 -$981,471
-$192,913
$1,585,456
19 $2,897,840 -$1,032,531
-$202,559
$1,662,750
20 $3,042,720 -$1,086,137
-$212,686
$1,743,897
21 $3,194,880 -$1,142,436
-$223,322
$1,829,122
22 $3,354,640 -$1,201,547
-$234,489
$1,918,604
23 $3,522,320 -$1,263,589
-$246,210
$2,012,521
24 $3,698,480 -$1,328,768
-$258,524
$2,111,188
25 $3,883,360 -$1,397,174
-$271,447
$2,214,739
26 $4,077,600 -$1,469,042
-$285,024
$2,323,534
27 $4,281,440 -$1,544,463
-$299,273
$2,437,704
28 $4,495,520 -$1,623,673
-$314,237
$2,557,610
29 $4,720,320 -$1,706,849
-$329,950
$2,683,521
30 $4,956,320 -$1,794,169
-$346,447
$2,815,704
8
0
Cash Option: $35.8 Million
Next Draw: Fri Jul 11
Mega Millions
Tue Jul 8, 2025
040638446224

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