The jackpot for the MEGA Millions draw on Fri May 10, 2024, is projected to be $331 Million, with an option for a cash payout of $153.1 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 10, 2024 |
|---|
| Draw Date | Fri May 10, 2024 | | Projected Jackpot | $331,000,000 | | Cash Value | $153,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $153,100,000 | | Federal Tax(24%) | $36,744,000 | | Additional Federal Tax | $19,863,330 | | State Tax(6.99%) | $10,701,690 | | Net Lumpsum Payment | $85,790,980 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,981,881 |
$1,803,626
$348,233 |
$2,830,022 |
| 2 |
$5,231,124 |
$1,895,846
$365,656 |
$2,969,622 |
| 3 |
$5,492,614 |
$1,992,598
$383,934 |
$3,116,082 |
| 4 |
$5,767,344 |
$2,094,248
$403,137 |
$3,269,959 |
| 5 |
$6,055,645 |
$2,200,919
$423,290 |
$3,431,436 |
| 6 |
$6,358,510 |
$2,312,979
$444,460 |
$3,601,071 |
| 7 |
$6,676,270 |
$2,430,550
$466,671 |
$3,779,049 |
| 8 |
$7,010,249 |
$2,554,123
$490,016 |
$3,966,110 |
| 9 |
$7,360,778 |
$2,683,818
$514,518 |
$4,162,442 |
| 10 |
$7,728,850 |
$2,820,005
$540,247 |
$4,368,598 |
| 11 |
$8,115,127 |
$2,962,927
$567,247 |
$4,584,953 |
| 12 |
$8,520,933 |
$3,113,076
$595,613 |
$4,812,244 |
| 13 |
$8,946,930 |
$3,270,694
$625,390 |
$5,050,846 |
| 14 |
$9,394,442 |
$3,436,274
$656,671 |
$5,301,497 |
| 15 |
$9,864,131 |
$3,610,059
$689,503 |
$5,564,569 |
| 16 |
$10,357,321 |
$3,792,539
$723,977 |
$5,840,805 |
| 17 |
$10,875,005 |
$3,984,082
$760,163 |
$6,130,760 |
| 18 |
$11,418,838 |
$4,185,300
$798,177 |
$6,435,361 |
| 19 |
$11,989,813 |
$4,396,561
$838,088 |
$6,755,164 |
| 20 |
$12,589,254 |
$4,618,354
$879,989 |
$7,090,911 |
| 21 |
$13,218,816 |
$4,851,292
$923,995 |
$7,443,529 |
| 22 |
$13,879,823 |
$5,095,865
$970,200 |
$7,813,758 |
| 23 |
$14,573,599 |
$5,352,562
$1,018,695 |
$8,202,342 |
| 24 |
$15,302,461 |
$5,622,241
$1,069,642 |
$8,610,578 |
| 25 |
$16,067,402 |
$5,905,269
$1,123,111 |
$9,039,022 |
| 26 |
$16,871,070 |
$6,202,626
$1,179,288 |
$9,489,156 |
| 27 |
$17,714,458 |
$6,514,680
$1,238,241 |
$9,961,537 |
| 28 |
$18,600,214 |
$6,842,410
$1,300,155 |
$10,457,649 |
| 29 |
$19,530,324 |
$7,186,550
$1,365,170 |
$10,978,604 |
| 30 |
$20,506,774 |
$7,547,837
$1,433,424 |
$11,525,513 |
|
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