The jackpot for the MEGA Millions draw on Fri Nov 29, 2024, is projected to be $514 Million, with an option for a cash payout of $241 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 Nov 29, 2024 |
|---|
| Draw Date | Fri Nov 29, 2024 | | Projected Jackpot | $514,000,000 | | Cash Value | $241,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $241,000,000 | | Federal Tax(24%) | $57,840,000 | | Additional Federal Tax | $31,290,330 | | State Tax(6.99%) | $16,845,900 | | Net Lumpsum Payment | $135,023,770 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,736,214 |
$2,822,730
$540,761 |
$4,372,723 |
| 2 |
$8,123,256 |
$2,965,935
$567,816 |
$4,589,505 |
| 3 |
$8,529,316 |
$3,116,177
$596,199 |
$4,816,940 |
| 4 |
$8,955,936 |
$3,274,027
$626,020 |
$5,055,889 |
| 5 |
$9,403,630 |
$3,439,673
$657,314 |
$5,306,643 |
| 6 |
$9,873,940 |
$3,613,688
$690,188 |
$5,570,064 |
| 7 |
$10,367,380 |
$3,796,261
$724,680 |
$5,846,439 |
| 8 |
$10,886,006 |
$3,988,153
$760,932 |
$6,136,921 |
| 9 |
$11,430,332 |
$4,189,553
$798,980 |
$6,441,799 |
| 10 |
$12,001,900 |
$4,401,033
$838,933 |
$6,761,934 |
| 11 |
$12,601,738 |
$4,622,973
$880,861 |
$7,097,904 |
| 12 |
$13,231,902 |
$4,856,134
$924,910 |
$7,450,858 |
| 13 |
$13,893,420 |
$5,100,896
$971,150 |
$7,821,374 |
| 14 |
$14,588,348 |
$5,358,019
$1,019,726 |
$8,210,603 |
| 15 |
$15,317,714 |
$5,627,885
$1,070,708 |
$8,619,121 |
| 16 |
$16,083,574 |
$5,911,253
$1,124,242 |
$9,048,079 |
| 17 |
$16,887,470 |
$6,208,694
$1,180,434 |
$9,498,342 |
| 18 |
$17,731,972 |
$6,521,160
$1,239,465 |
$9,971,347 |
| 19 |
$18,618,622 |
$6,849,221
$1,301,442 |
$10,467,959 |
| 20 |
$19,549,476 |
$7,193,637
$1,366,508 |
$10,989,331 |
| 21 |
$20,527,104 |
$7,555,359
$1,434,845 |
$11,536,900 |
| 22 |
$21,553,562 |
$7,935,148
$1,506,594 |
$12,111,820 |
| 23 |
$22,630,906 |
$8,333,766
$1,581,900 |
$12,715,240 |
| 24 |
$23,762,734 |
$8,752,542
$1,661,015 |
$13,349,177 |
| 25 |
$24,950,588 |
$9,192,048
$1,744,046 |
$14,014,494 |
| 26 |
$26,198,580 |
$9,653,805
$1,831,281 |
$14,713,494 |
| 27 |
$27,508,252 |
$10,138,384
$1,922,827 |
$15,447,041 |
| 28 |
$28,883,716 |
$10,647,305
$2,018,972 |
$16,217,439 |
| 29 |
$30,328,056 |
$11,181,711
$2,119,931 |
$17,026,414 |
| 30 |
$31,844,356 |
$11,742,742
$2,225,920 |
$17,875,694 |
|
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