The jackpot for the MEGA Millions draw on Fri May 2, 2025, is projected to be $80 Million, with an option for a cash payout of $36.4 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 2, 2025 |
|---|
| Draw Date | Fri May 2, 2025 | | Projected Jackpot | $80,000,000 | | Cash Value | $36,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $36,400,000 | | Federal Tax(24%) | $8,736,000 | | Additional Federal Tax | $4,692,330 | | State Tax(6.99%) | $2,544,360 | | Net Lumpsum Payment | $20,427,310 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,204,080 |
$405,840
$84,165 |
$714,075 |
| 2 |
$1,264,320 |
$428,129
$88,376 |
$747,815 |
| 3 |
$1,327,520 |
$451,513
$92,794 |
$783,213 |
| 4 |
$1,393,920 |
$476,081
$97,435 |
$820,404 |
| 5 |
$1,463,600 |
$501,862
$102,306 |
$859,432 |
| 6 |
$1,536,800 |
$528,946
$107,422 |
$900,432 |
| 7 |
$1,613,600 |
$557,362
$112,791 |
$943,447 |
| 8 |
$1,694,320 |
$587,229
$118,433 |
$988,658 |
| 9 |
$1,779,040 |
$618,575
$124,355 |
$1,036,110 |
| 10 |
$1,868,000 |
$651,490
$130,573 |
$1,085,937 |
| 11 |
$1,961,360 |
$686,034
$137,099 |
$1,138,227 |
| 12 |
$2,059,440 |
$722,323
$143,955 |
$1,193,162 |
| 13 |
$2,162,400 |
$760,418
$151,152 |
$1,250,830 |
| 14 |
$2,270,560 |
$800,438
$158,712 |
$1,311,410 |
| 15 |
$2,384,080 |
$842,440
$166,647 |
$1,374,993 |
| 16 |
$2,503,280 |
$886,544
$174,979 |
$1,441,757 |
| 17 |
$2,628,400 |
$932,838
$183,725 |
$1,511,837 |
| 18 |
$2,759,840 |
$981,471
$192,913 |
$1,585,456 |
| 19 |
$2,897,840 |
$1,032,531
$202,559 |
$1,662,750 |
| 20 |
$3,042,720 |
$1,086,137
$212,686 |
$1,743,897 |
| 21 |
$3,194,880 |
$1,142,436
$223,322 |
$1,829,122 |
| 22 |
$3,354,640 |
$1,201,547
$234,489 |
$1,918,604 |
| 23 |
$3,522,320 |
$1,263,589
$246,210 |
$2,012,521 |
| 24 |
$3,698,480 |
$1,328,768
$258,524 |
$2,111,188 |
| 25 |
$3,883,360 |
$1,397,174
$271,447 |
$2,214,739 |
| 26 |
$4,077,600 |
$1,469,042
$285,024 |
$2,323,534 |
| 27 |
$4,281,440 |
$1,544,463
$299,273 |
$2,437,704 |
| 28 |
$4,495,520 |
$1,623,673
$314,237 |
$2,557,610 |
| 29 |
$4,720,320 |
$1,706,849
$329,950 |
$2,683,521 |
| 30 |
$4,956,320 |
$1,794,169
$346,447 |
$2,815,704 |
|
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