The jackpot for the MEGA Millions draw on Tue Jul 2, 2024, is projected to be $137 Million, with an option for a cash payout of $64.5 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 Tue Jul 2, 2024 |
|---|
| Draw Date | Tue Jul 2, 2024 | | Projected Jackpot | $137,000,000 | | Cash Value | $64,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $64,500,000 | | Federal Tax(24%) | $15,480,000 | | Additional Federal Tax | $8,345,330 | | State Tax(6.99%) | $4,508,550 | | Net Lumpsum Payment | $36,166,120 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,061,987 |
$723,266
$144,133 |
$1,194,588 |
| 2 |
$2,165,148 |
$761,435
$151,344 |
$1,252,369 |
| 3 |
$2,273,378 |
$801,480
$158,909 |
$1,312,989 |
| 4 |
$2,387,088 |
$843,553
$166,857 |
$1,376,678 |
| 5 |
$2,506,415 |
$887,704
$175,198 |
$1,443,513 |
| 6 |
$2,631,770 |
$934,085
$183,961 |
$1,513,724 |
| 7 |
$2,763,290 |
$982,748
$193,154 |
$1,587,388 |
| 8 |
$2,901,523 |
$1,033,894
$202,816 |
$1,664,813 |
| 9 |
$3,046,606 |
$1,087,575
$212,958 |
$1,746,073 |
| 10 |
$3,198,950 |
$1,143,942
$223,607 |
$1,831,401 |
| 11 |
$3,358,829 |
$1,203,097
$234,782 |
$1,920,950 |
| 12 |
$3,526,791 |
$1,265,243
$246,523 |
$2,015,025 |
| 13 |
$3,703,110 |
$1,330,481
$258,847 |
$2,113,782 |
| 14 |
$3,888,334 |
$1,399,014
$271,795 |
$2,217,525 |
| 15 |
$4,082,737 |
$1,470,943
$285,383 |
$2,326,411 |
| 16 |
$4,286,867 |
$1,546,471
$299,652 |
$2,440,744 |
| 17 |
$4,501,135 |
$1,625,750
$314,629 |
$2,560,756 |
| 18 |
$4,726,226 |
$1,709,034
$330,363 |
$2,686,829 |
| 19 |
$4,962,551 |
$1,796,474
$346,882 |
$2,819,195 |
| 20 |
$5,210,658 |
$1,888,274
$364,225 |
$2,958,159 |
| 21 |
$5,471,232 |
$1,984,686
$382,439 |
$3,104,107 |
| 22 |
$5,744,821 |
$2,085,914
$401,563 |
$3,257,344 |
| 23 |
$6,031,973 |
$2,192,160
$421,635 |
$3,418,178 |
| 24 |
$6,333,647 |
$2,303,780
$442,722 |
$3,587,145 |
| 25 |
$6,650,254 |
$2,420,924
$464,853 |
$3,764,477 |
| 26 |
$6,982,890 |
$2,544,000
$488,104 |
$3,950,786 |
| 27 |
$7,331,966 |
$2,673,158
$512,504 |
$4,146,304 |
| 28 |
$7,698,578 |
$2,808,804
$538,131 |
$4,351,643 |
| 29 |
$8,083,548 |
$2,951,243
$565,040 |
$4,567,265 |
| 30 |
$8,487,698 |
$3,100,779
$593,290 |
$4,793,629 |
|
|
