Connecticut Lottery

CTLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Apr 18, 2025 is estimated to be $112 Million, with a cash option of 49.3 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 Apr 18, 2025

Draw Date	Jackpot	Cash Option
Fri Apr 18, 2025	$112,000,000	$49,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$49,300,000
Federal Tax(24%)	$11,832,000
Additional Federal Tax	$6,369,330
State Tax(6.99%)	$3,446,070
Net Lumpsum Payment	$27,652,600

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,685,712	-$584,044 -$117,831	$983,837
2	$1,770,048	-$615,248 -$123,726	$1,031,074
3	$1,858,528	-$647,986 -$129,911	$1,080,631
4	$1,951,488	-$682,381 -$136,409	$1,132,698
5	$2,049,040	-$718,475 -$143,228	$1,187,337
6	$2,151,520	-$756,393 -$150,391	$1,244,736
7	$2,259,040	-$796,175 -$157,907	$1,304,958
8	$2,372,048	-$837,988 -$165,806	$1,368,254
9	$2,490,656	-$881,873 -$174,097	$1,434,686
10	$2,615,200	-$927,954 -$182,802	$1,504,444
11	$2,745,904	-$976,315 -$191,939	$1,577,650
12	$2,883,216	-$1,027,120 -$201,537	$1,654,559
13	$3,027,360	-$1,080,454 -$211,612	$1,735,294
14	$3,178,784	-$1,136,480 -$222,197	$1,820,107
15	$3,337,712	-$1,195,284 -$233,306	$1,909,122
16	$3,504,592	-$1,257,029 -$244,971	$2,002,592
17	$3,679,760	-$1,321,842 -$257,215	$2,100,703
18	$3,863,776	-$1,389,928 -$270,078	$2,203,770
19	$4,056,976	-$1,461,412 -$283,583	$2,311,981
20	$4,259,808	-$1,536,459 -$297,761	$2,425,588
21	$4,472,832	-$1,615,278 -$312,651	$2,544,903
22	$4,696,496	-$1,698,034 -$328,285	$2,670,177
23	$4,931,248	-$1,784,892 -$344,694	$2,801,662
24	$5,177,872	-$1,876,143 -$361,933	$2,939,796
25	$5,436,704	-$1,971,911 -$380,026	$3,084,767
26	$5,708,640	-$2,072,527 -$399,034	$3,237,079
27	$5,994,016	-$2,178,116 -$418,982	$3,396,918
28	$6,293,728	-$2,289,010 -$439,932	$3,564,786
29	$6,608,448	-$2,405,456 -$461,931	$3,741,061
30	$6,938,848	-$2,527,704 -$485,025	$3,926,119