Jackpot Analysis Connecticut Mega Millions

Jackpot Analysis for Connecticut Mega Millions
The jackpot for the MEGA Millions draw on Tue Feb 3, 2026, is projected to be $323 Million, with an option for a cash payout of $145.7 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 Tue Feb 3, 2026
Draw DateTue Feb 3, 2026
Projected Jackpot$323,000,000
Cash Value$145,700,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$145,700,000
Federal Tax(24%)$34,968,000
Additional Federal Tax$18,901,330
State Tax(6.99%)$0
Net Lumpsum Payment$0
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment