The jackpot for the MEGA Millions draw on Fri May 23, 2025, is projected to be $154 Million, with an option for a cash payout of $69 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 23, 2025 |
| Draw Date |
Fri May 23, 2025 |
| Projected Jackpot |
$154,000,000 |
| Cash Value |
$69,000,000 |
| Lumpsum Option Taxes and Payment |
| Cash Gross Payment |
$69,000,000 |
| Federal Tax(24%) |
$16,560,000 |
| Additional Federal Tax |
$8,930,330 |
| State Tax(6.99%) |
$4,823,100 |
| Net Lumpsum Payment |
$38,686,570 |
| Annuity Payment in 30 Installations |
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,317,854 |
$817,936
$162,018 |
$1,337,900 |
| 2 |
$2,433,816 |
$860,842
$170,124 |
$1,402,850 |
| 3 |
$2,555,476 |
$905,857
$178,628 |
$1,470,991 |
| 4 |
$2,683,296 |
$953,150
$187,562 |
$1,542,584 |
| 5 |
$2,817,430 |
$1,002,779
$196,938 |
$1,617,713 |
| 6 |
$2,958,340 |
$1,054,916
$206,788 |
$1,696,636 |
| 7 |
$3,106,180 |
$1,109,617
$217,122 |
$1,779,441 |
| 8 |
$3,261,566 |
$1,167,110
$227,983 |
$1,866,473 |
| 9 |
$3,424,652 |
$1,227,452
$239,383 |
$1,957,817 |
| 10 |
$3,595,900 |
$1,290,813
$251,353 |
$2,053,734 |
| 11 |
$3,775,618 |
$1,357,309
$263,916 |
$2,154,393 |
| 12 |
$3,964,422 |
$1,427,167
$277,113 |
$2,260,142 |
| 13 |
$4,162,620 |
$1,500,500
$290,967 |
$2,371,153 |
| 14 |
$4,370,828 |
$1,577,537
$305,521 |
$2,487,770 |
| 15 |
$4,589,354 |
$1,658,391
$320,796 |
$2,610,167 |
| 16 |
$4,818,814 |
$1,743,292
$336,835 |
$2,738,687 |
| 17 |
$5,059,670 |
$1,832,408
$353,671 |
$2,873,591 |
| 18 |
$5,312,692 |
$1,926,026
$371,357 |
$3,015,309 |
| 19 |
$5,578,342 |
$2,024,317
$389,926 |
$3,164,099 |
| 20 |
$5,857,236 |
$2,127,508
$409,421 |
$3,320,307 |
| 21 |
$6,150,144 |
$2,235,884
$429,895 |
$3,484,365 |
| 22 |
$6,457,682 |
$2,349,673
$451,392 |
$3,656,617 |
| 23 |
$6,780,466 |
$2,469,103
$473,955 |
$3,837,408 |
| 24 |
$7,119,574 |
$2,594,573
$497,658 |
$4,027,343 |
| 25 |
$7,475,468 |
$2,726,254
$522,535 |
$4,226,679 |
| 26 |
$7,849,380 |
$2,864,601
$548,672 |
$4,436,107 |
| 27 |
$8,241,772 |
$3,009,786
$576,100 |
$4,655,886 |
| 28 |
$8,653,876 |
$3,162,265
$604,906 |
$4,886,705 |
| 29 |
$9,086,616 |
$3,322,378
$635,154 |
$5,129,084 |
| 30 |
$9,540,916 |
$3,490,469
$666,910 |
$5,383,537 |
|
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