The jackpot for the MEGA Millions draw on Fri Jun 27, 2025, is projected to be $348 Million, with an option for a cash payout of $155.5 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 Jun 27, 2025 |
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Draw Date | Fri Jun 27, 2025 | Projected Jackpot | $348,000,000 | Cash Value | $155,500,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $155,500,000 | Federal Tax(24%) | $37,320,000 | Additional Federal Tax | $20,175,330 | State Tax(6.99%) | $10,869,450 | Net Lumpsum Payment | $87,135,220 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$5,237,748 |
$1,898,297 $366,119 |
$2,973,332 |
2 |
$5,499,792 |
$1,995,253 $384,435 |
$3,120,104 |
3 |
$5,774,712 |
$2,096,974 $403,652 |
$3,274,086 |
4 |
$6,063,552 |
$2,203,845 $423,842 |
$3,435,865 |
5 |
$6,366,660 |
$2,315,995 $445,030 |
$3,605,635 |
6 |
$6,685,080 |
$2,433,810 $467,287 |
$3,783,983 |
7 |
$7,019,160 |
$2,557,420 $490,639 |
$3,971,101 |
8 |
$7,370,292 |
$2,687,338 $515,183 |
$4,167,771 |
9 |
$7,738,824 |
$2,823,695 $540,944 |
$4,374,185 |
10 |
$8,125,800 |
$2,966,876 $567,993 |
$4,590,931 |
11 |
$8,531,916 |
$3,117,139 $596,381 |
$4,818,396 |
12 |
$8,958,564 |
$3,274,999 $626,204 |
$5,057,361 |
13 |
$9,406,440 |
$3,440,713 $657,510 |
$5,308,217 |
14 |
$9,876,936 |
$3,614,797 $690,398 |
$5,571,741 |
15 |
$10,370,748 |
$3,797,507 $724,915 |
$5,848,326 |
16 |
$10,889,268 |
$3,989,360 $761,160 |
$6,138,748 |
17 |
$11,433,540 |
$4,190,740 $799,204 |
$6,443,596 |
18 |
$12,005,304 |
$4,402,293 $839,171 |
$6,763,840 |
19 |
$12,605,604 |
$4,624,404 $881,132 |
$7,100,068 |
20 |
$13,235,832 |
$4,857,588 $925,185 |
$7,453,059 |
21 |
$13,897,728 |
$5,102,490 $971,451 |
$7,823,787 |
22 |
$14,592,684 |
$5,359,623 $1,020,029 |
$8,213,032 |
23 |
$15,322,092 |
$5,629,504 $1,071,014 |
$8,621,574 |
24 |
$16,088,388 |
$5,913,034 $1,124,578 |
$9,050,776 |
25 |
$16,892,616 |
$6,210,598 $1,180,794 |
$9,501,224 |
26 |
$17,737,560 |
$6,523,228 $1,239,855 |
$9,974,477 |
27 |
$18,624,264 |
$6,851,308 $1,301,836 |
$10,471,120 |
28 |
$19,555,512 |
$7,195,870 $1,366,930 |
$10,992,712 |
29 |
$20,533,392 |
$7,557,685 $1,435,284 |
$11,540,423 |
30 |
$21,559,992 |
$7,937,527 $1,507,043 |
$12,115,422 |
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