The jackpot for the MEGA Millions draw on Fri Jan 16, 2026, is projected to be $230 Million, with an option for a cash payout of $105.1 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 Jan 16, 2026 |
|---|
| Draw Date | Fri Jan 16, 2026 | | Projected Jackpot | $230,000,000 | | Cash Value | $105,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $105,100,000 | | Federal Tax(24%) | $25,224,000 | | Additional Federal Tax | $13,623,330 | | State Tax(6.99%) | $7,346,490 | | Net Lumpsum Payment | $58,906,180 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,461,730 |
$1,241,170
$241,975 |
$1,978,585 |
| 2 |
$3,634,920 |
$1,305,251
$254,081 |
$2,075,588 |
| 3 |
$3,816,620 |
$1,372,480
$266,782 |
$2,177,358 |
| 4 |
$4,007,520 |
$1,443,113
$280,126 |
$2,284,281 |
| 5 |
$4,207,850 |
$1,517,235
$294,129 |
$2,396,486 |
| 6 |
$4,418,300 |
$1,595,101
$308,839 |
$2,514,360 |
| 7 |
$4,639,100 |
$1,676,797
$324,273 |
$2,638,030 |
| 8 |
$4,871,170 |
$1,762,663
$340,495 |
$2,768,012 |
| 9 |
$5,114,740 |
$1,852,784
$357,520 |
$2,904,436 |
| 10 |
$5,370,500 |
$1,947,415
$375,398 |
$3,047,687 |
| 11 |
$5,638,910 |
$2,046,727
$394,160 |
$3,198,023 |
| 12 |
$5,920,890 |
$2,151,060
$413,870 |
$3,355,960 |
| 13 |
$6,216,900 |
$2,260,583
$434,561 |
$3,521,756 |
| 14 |
$6,527,860 |
$2,375,639
$456,297 |
$3,695,924 |
| 15 |
$6,854,230 |
$2,496,395
$479,111 |
$3,878,724 |
| 16 |
$7,196,930 |
$2,623,194
$503,065 |
$4,070,671 |
| 17 |
$7,556,650 |
$2,756,291
$528,210 |
$4,272,149 |
| 18 |
$7,934,540 |
$2,896,110
$554,624 |
$4,483,806 |
| 19 |
$8,331,290 |
$3,042,908
$582,357 |
$4,706,025 |
| 20 |
$8,747,820 |
$3,197,024
$611,473 |
$4,939,323 |
| 21 |
$9,185,280 |
$3,358,884
$642,051 |
$5,184,345 |
| 22 |
$9,644,590 |
$3,528,829
$674,157 |
$5,441,604 |
| 23 |
$10,126,670 |
$3,707,198
$707,854 |
$5,711,618 |
| 24 |
$10,633,130 |
$3,894,588
$743,256 |
$5,995,286 |
| 25 |
$11,164,660 |
$4,091,255
$780,410 |
$6,292,995 |
| 26 |
$11,723,100 |
$4,297,877
$819,445 |
$6,605,778 |
| 27 |
$12,309,140 |
$4,514,712
$860,409 |
$6,934,019 |
| 28 |
$12,924,620 |
$4,742,440
$903,431 |
$7,278,749 |
| 29 |
$13,570,920 |
$4,981,571
$948,607 |
$7,640,742 |
| 30 |
$14,249,420 |
$5,232,616
$996,034 |
$8,020,770 |
|
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