The jackpot for the MEGA Millions draw on Fri Oct 16, 2026, is projected to be $403 Million, with an option for a cash payout of $162.1 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 Oct 16, 2026 |
|---|
| Draw Date | Fri Oct 16, 2026 | | Projected Jackpot | $403,000,000 | | Cash Value | $162,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $162,100,000 | | Federal Tax(24%) | $38,904,000 | | Additional Federal Tax | $21,033,330 | | State Tax(6.99%) | $11,330,790 | | Net Lumpsum Payment | $90,831,880 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,065,553 |
$2,204,585
$423,982 |
$3,436,986 |
| 2 |
$6,369,012 |
$2,316,865
$445,194 |
$3,606,953 |
| 3 |
$6,687,382 |
$2,434,662
$467,448 |
$3,785,272 |
| 4 |
$7,021,872 |
$2,558,423
$490,829 |
$3,972,620 |
| 5 |
$7,372,885 |
$2,688,298
$515,365 |
$4,169,222 |
| 6 |
$7,741,630 |
$2,824,733
$541,140 |
$4,375,757 |
| 7 |
$8,128,510 |
$2,967,879
$568,183 |
$4,592,448 |
| 8 |
$8,535,137 |
$3,118,331
$596,606 |
$4,820,200 |
| 9 |
$8,961,914 |
$3,276,239
$626,438 |
$5,059,237 |
| 10 |
$9,410,050 |
$3,442,049
$657,762 |
$5,310,239 |
| 11 |
$9,880,351 |
$3,616,060
$690,637 |
$5,573,654 |
| 12 |
$10,374,429 |
$3,798,869
$725,173 |
$5,850,387 |
| 13 |
$10,893,090 |
$3,990,774
$761,427 |
$6,140,889 |
| 14 |
$11,437,946 |
$4,192,370
$799,512 |
$6,446,064 |
| 15 |
$12,009,803 |
$4,403,957
$839,485 |
$6,766,361 |
| 16 |
$12,610,273 |
$4,626,131
$881,458 |
$7,102,684 |
| 17 |
$13,240,565 |
$4,859,339
$925,515 |
$7,455,711 |
| 18 |
$13,902,694 |
$5,104,327
$971,798 |
$7,826,569 |
| 19 |
$14,597,869 |
$5,361,542
$1,020,391 |
$8,215,936 |
| 20 |
$15,327,702 |
$5,631,580
$1,071,406 |
$8,624,716 |
| 21 |
$16,094,208 |
$5,915,187
$1,124,985 |
$9,054,036 |
| 22 |
$16,898,999 |
$6,212,960
$1,181,240 |
$9,504,799 |
| 23 |
$17,743,687 |
$6,525,495
$1,240,284 |
$9,977,908 |
| 24 |
$18,631,093 |
$6,853,835
$1,302,313 |
$10,474,945 |
| 25 |
$19,562,426 |
$7,198,428
$1,367,414 |
$10,996,584 |
| 26 |
$20,540,910 |
$7,560,467
$1,435,810 |
$11,544,633 |
| 27 |
$21,567,754 |
$7,940,399
$1,507,586 |
$12,119,769 |
| 28 |
$22,646,182 |
$8,339,418
$1,582,968 |
$12,723,796 |
| 29 |
$23,778,612 |
$8,758,417
$1,662,125 |
$13,358,070 |
| 30 |
$24,967,462 |
$9,198,291
$1,745,226 |
$14,023,945 |
|
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