The jackpot for the MEGA Millions draw on Fri May 17, 2024, is projected to be $393 Million, with an option for a cash payout of $181.5 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 May 17, 2024 |
|---|
| Draw Date | Fri May 17, 2024 | | Projected Jackpot | $393,000,000 | | Cash Value | $181,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $181,500,000 | | Federal Tax(24%) | $43,560,000 | | Additional Federal Tax | $23,555,330 | | State Tax(6.99%) | $12,686,850 | | Net Lumpsum Payment | $101,697,820 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,915,043 |
$2,148,896
$413,462 |
$3,352,685 |
| 2 |
$6,210,972 |
$2,258,390
$434,147 |
$3,518,435 |
| 3 |
$6,521,442 |
$2,373,264
$455,849 |
$3,692,329 |
| 4 |
$6,847,632 |
$2,493,954
$478,649 |
$3,875,029 |
| 5 |
$7,189,935 |
$2,620,606
$502,576 |
$4,066,753 |
| 6 |
$7,549,530 |
$2,753,656
$527,712 |
$4,268,162 |
| 7 |
$7,926,810 |
$2,893,250
$554,084 |
$4,479,476 |
| 8 |
$8,323,347 |
$3,039,969
$581,802 |
$4,701,576 |
| 9 |
$8,739,534 |
$3,193,958
$610,893 |
$4,934,683 |
| 10 |
$9,176,550 |
$3,355,654
$641,441 |
$5,179,455 |
| 11 |
$9,635,181 |
$3,525,347
$673,499 |
$5,436,335 |
| 12 |
$10,116,999 |
$3,703,620
$707,178 |
$5,706,201 |
| 13 |
$10,622,790 |
$3,890,763
$742,533 |
$5,989,494 |
| 14 |
$11,154,126 |
$4,087,357
$779,673 |
$6,287,096 |
| 15 |
$11,711,793 |
$4,293,694
$818,654 |
$6,599,445 |
| 16 |
$12,297,363 |
$4,510,355
$859,586 |
$6,927,422 |
| 17 |
$12,912,015 |
$4,737,776
$902,550 |
$7,271,689 |
| 18 |
$13,557,714 |
$4,976,685
$947,684 |
$7,633,345 |
| 19 |
$14,235,639 |
$5,227,517
$995,071 |
$8,013,051 |
| 20 |
$14,947,362 |
$5,490,854
$1,044,821 |
$8,411,687 |
| 21 |
$15,694,848 |
$5,767,424
$1,097,070 |
$8,830,354 |
| 22 |
$16,479,669 |
$6,057,808
$1,151,929 |
$9,269,932 |
| 23 |
$17,303,397 |
$6,362,587
$1,209,507 |
$9,731,303 |
| 24 |
$18,168,783 |
$6,682,780
$1,269,998 |
$10,216,005 |
| 25 |
$19,077,006 |
$7,018,823
$1,333,483 |
$10,724,700 |
| 26 |
$20,031,210 |
$7,371,878
$1,400,182 |
$11,259,150 |
| 27 |
$21,032,574 |
$7,742,383
$1,470,177 |
$11,820,014 |
| 28 |
$22,084,242 |
$8,131,500
$1,543,689 |
$12,409,053 |
| 29 |
$23,188,572 |
$8,540,102
$1,620,881 |
$13,027,589 |
| 30 |
$24,347,922 |
$8,969,062
$1,701,920 |
$13,676,940 |
|
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