The jackpot for the MEGA Millions draw on Fri Jun 28, 2024, is projected to be $116 Million, with an option for a cash payout of $55.4 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 28, 2024 |
|---|
| Draw Date | Fri Jun 28, 2024 | | Projected Jackpot | $116,000,000 | | Cash Value | $55,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $55,400,000 | | Federal Tax(24%) | $13,296,000 | | Additional Federal Tax | $7,162,330 | | State Tax(6.99%) | $3,872,460 | | Net Lumpsum Payment | $31,069,210 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,745,916 |
$606,319
$122,040 |
$1,017,557 |
| 2 |
$1,833,264 |
$638,638
$128,145 |
$1,066,481 |
| 3 |
$1,924,904 |
$672,545
$134,551 |
$1,117,808 |
| 4 |
$2,021,184 |
$708,168
$141,281 |
$1,171,735 |
| 5 |
$2,122,220 |
$745,552
$148,343 |
$1,228,325 |
| 6 |
$2,228,360 |
$784,824
$155,762 |
$1,287,774 |
| 7 |
$2,339,720 |
$826,027
$163,546 |
$1,350,147 |
| 8 |
$2,456,764 |
$869,333
$171,728 |
$1,415,703 |
| 9 |
$2,579,608 |
$914,785
$180,315 |
$1,484,508 |
| 10 |
$2,708,600 |
$962,512
$189,331 |
$1,556,757 |
| 11 |
$2,843,972 |
$1,012,600
$198,794 |
$1,632,578 |
| 12 |
$2,986,188 |
$1,065,220
$208,735 |
$1,712,233 |
| 13 |
$3,135,480 |
$1,120,458
$219,170 |
$1,795,852 |
| 14 |
$3,292,312 |
$1,178,486
$230,133 |
$1,883,693 |
| 15 |
$3,456,916 |
$1,239,389
$241,638 |
$1,975,889 |
| 16 |
$3,629,756 |
$1,303,340
$253,720 |
$2,072,696 |
| 17 |
$3,811,180 |
$1,370,467
$266,401 |
$2,174,312 |
| 18 |
$4,001,768 |
$1,440,985
$279,724 |
$2,281,059 |
| 19 |
$4,201,868 |
$1,515,022
$293,711 |
$2,393,135 |
| 20 |
$4,411,944 |
$1,592,750
$308,395 |
$2,510,799 |
| 21 |
$4,632,576 |
$1,674,384
$323,817 |
$2,634,375 |
| 22 |
$4,864,228 |
$1,760,095
$340,010 |
$2,764,123 |
| 23 |
$5,107,364 |
$1,850,055
$357,005 |
$2,900,304 |
| 24 |
$5,362,796 |
$1,944,565
$374,859 |
$3,043,372 |
| 25 |
$5,630,872 |
$2,043,753
$393,598 |
$3,193,521 |
| 26 |
$5,912,520 |
$2,147,963
$413,285 |
$3,351,272 |
| 27 |
$6,208,088 |
$2,257,323
$433,945 |
$3,516,820 |
| 28 |
$6,518,504 |
$2,372,177
$455,643 |
$3,690,684 |
| 29 |
$6,844,464 |
$2,492,782
$478,428 |
$3,873,254 |
| 30 |
$7,186,664 |
$2,619,396
$502,348 |
$4,064,920 |
|
|
