The jackpot for the MEGA Millions draw on Fri Aug 15, 2025, is projected to be $198 Million, with an option for a cash payout of $89.3 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 Aug 15, 2025 |
|---|
| Draw Date | Fri Aug 15, 2025 | | Projected Jackpot | $198,000,000 | | Cash Value | $89,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $89,300,000 | | Federal Tax(24%) | $21,432,000 | | Additional Federal Tax | $11,569,330 | | State Tax(6.99%) | $6,242,070 | | Net Lumpsum Payment | $50,056,600 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,980,098 |
$1,062,967
$208,309 |
$1,708,822 |
| 2 |
$3,129,192 |
$1,118,131
$218,731 |
$1,792,330 |
| 3 |
$3,285,612 |
$1,176,007
$229,664 |
$1,879,941 |
| 4 |
$3,449,952 |
$1,236,813
$241,152 |
$1,971,987 |
| 5 |
$3,622,410 |
$1,300,622
$253,206 |
$2,068,582 |
| 6 |
$3,803,580 |
$1,367,655
$265,870 |
$2,170,055 |
| 7 |
$3,993,660 |
$1,437,985
$279,157 |
$2,276,518 |
| 8 |
$4,193,442 |
$1,511,904
$293,122 |
$2,388,416 |
| 9 |
$4,403,124 |
$1,589,486
$307,778 |
$2,505,860 |
| 10 |
$4,623,300 |
$1,670,951
$323,169 |
$2,629,180 |
| 11 |
$4,854,366 |
$1,756,446
$339,320 |
$2,758,600 |
| 12 |
$5,097,114 |
$1,846,263
$356,288 |
$2,894,563 |
| 13 |
$5,351,940 |
$1,940,548
$374,101 |
$3,037,291 |
| 14 |
$5,619,636 |
$2,039,596
$392,813 |
$3,187,227 |
| 15 |
$5,900,598 |
$2,143,552
$412,452 |
$3,344,594 |
| 16 |
$6,195,618 |
$2,252,709
$433,074 |
$3,509,835 |
| 17 |
$6,505,290 |
$2,367,288
$454,720 |
$3,683,282 |
| 18 |
$6,830,604 |
$2,487,654
$477,459 |
$3,865,491 |
| 19 |
$7,172,154 |
$2,614,027
$501,334 |
$4,056,793 |
| 20 |
$7,530,732 |
$2,746,701
$526,398 |
$4,257,633 |
| 21 |
$7,907,328 |
$2,886,042
$552,722 |
$4,468,564 |
| 22 |
$8,302,734 |
$3,032,342
$580,361 |
$4,690,031 |
| 23 |
$8,717,742 |
$3,185,895
$609,370 |
$4,922,477 |
| 24 |
$9,153,738 |
$3,347,213
$639,846 |
$5,166,679 |
| 25 |
$9,611,316 |
$3,516,517
$671,831 |
$5,422,968 |
| 26 |
$10,092,060 |
$3,694,393
$705,435 |
$5,692,232 |
| 27 |
$10,596,564 |
$3,881,059
$740,700 |
$5,974,805 |
| 28 |
$11,126,412 |
$4,077,103
$777,736 |
$6,271,573 |
| 29 |
$11,682,792 |
$4,282,963
$816,627 |
$6,583,202 |
| 30 |
$12,266,892 |
$4,499,080
$857,456 |
$6,910,356 |
|
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