The jackpot for the MEGA Millions draw on Fri Aug 29, 2025, is projected to be $277 Million, with an option for a cash payout of $124.6 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Connecticut residents, the state will deduct 6.99% from your lottery earnings.
| Connecticut MEGA Millions Jackpot/Cash Option for Fri Aug 29, 2025 |
|---|
| Draw Date | Fri Aug 29, 2025 | | Projected Jackpot | $277,000,000 | | Cash Value | $124,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $124,600,000 | | Federal Tax(24%) | $29,904,000 | | Additional Federal Tax | $16,158,330 | | State Tax(6.99%) | $8,709,540 | | Net Lumpsum Payment | $69,828,130 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,169,127 |
$1,502,907
$291,422 |
$2,374,798 |
| 2 |
$4,377,708 |
$1,580,082
$306,002 |
$2,491,624 |
| 3 |
$4,596,538 |
$1,661,049
$321,298 |
$2,614,191 |
| 4 |
$4,826,448 |
$1,746,116
$337,369 |
$2,742,963 |
| 5 |
$5,067,715 |
$1,835,385
$354,233 |
$2,878,097 |
| 6 |
$5,321,170 |
$1,929,163
$371,950 |
$3,020,057 |
| 7 |
$5,587,090 |
$2,027,554
$390,538 |
$3,168,998 |
| 8 |
$5,866,583 |
$2,130,966
$410,074 |
$3,325,543 |
| 9 |
$6,159,926 |
$2,239,503
$430,579 |
$3,489,844 |
| 10 |
$6,467,950 |
$2,353,472
$452,110 |
$3,662,368 |
| 11 |
$6,791,209 |
$2,473,078
$474,706 |
$3,843,425 |
| 12 |
$7,130,811 |
$2,598,730
$498,444 |
$4,033,637 |
| 13 |
$7,487,310 |
$2,730,635
$523,363 |
$4,233,312 |
| 14 |
$7,861,814 |
$2,869,202
$549,541 |
$4,443,071 |
| 15 |
$8,254,877 |
$3,014,635
$577,016 |
$4,663,226 |
| 16 |
$8,667,607 |
$3,167,345
$605,866 |
$4,894,396 |
| 17 |
$9,100,835 |
$3,327,639
$636,148 |
$5,137,048 |
| 18 |
$9,555,946 |
$3,496,030
$667,961 |
$5,391,955 |
| 19 |
$10,033,771 |
$3,672,826
$701,361 |
$5,659,584 |
| 20 |
$10,535,418 |
$3,858,435
$736,426 |
$5,940,557 |
| 21 |
$11,062,272 |
$4,053,371
$773,253 |
$6,235,648 |
| 22 |
$11,615,441 |
$4,258,044
$811,919 |
$6,545,478 |
| 23 |
$12,196,033 |
$4,472,863
$852,503 |
$6,870,667 |
| 24 |
$12,805,987 |
$4,698,546
$895,138 |
$7,212,303 |
| 25 |
$13,446,134 |
$4,935,400
$939,885 |
$7,570,849 |
| 26 |
$14,118,690 |
$5,184,246
$986,896 |
$7,947,548 |
| 27 |
$14,824,486 |
$5,445,390
$1,036,232 |
$8,342,864 |
| 28 |
$15,565,738 |
$5,719,653
$1,088,045 |
$8,758,040 |
| 29 |
$16,344,108 |
$6,007,650
$1,142,453 |
$9,194,005 |
| 30 |
$17,161,258 |
$6,309,996
$1,199,572 |
$9,651,690 |
|
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