The jackpot for the MEGA Millions draw on Fri Jan 17, 2025, is projected to be $113 Million, with an option for a cash payout of $49.2 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 17, 2025 |
|---|
| Draw Date | Fri Jan 17, 2025 | | Projected Jackpot | $113,000,000 | | Cash Value | $49,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $49,200,000 | | Federal Tax(24%) | $11,808,000 | | Additional Federal Tax | $6,356,330 | | State Tax(6.99%) | $3,439,080 | | Net Lumpsum Payment | $27,596,590 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,700,763 |
$589,613
$118,883 |
$992,267 |
| 2 |
$1,785,852 |
$621,096
$124,831 |
$1,039,925 |
| 3 |
$1,875,122 |
$654,126
$131,071 |
$1,089,925 |
| 4 |
$1,968,912 |
$688,828
$137,627 |
$1,142,457 |
| 5 |
$2,067,335 |
$725,244
$144,507 |
$1,197,584 |
| 6 |
$2,170,730 |
$763,500
$151,734 |
$1,255,496 |
| 7 |
$2,279,210 |
$803,638
$159,317 |
$1,316,255 |
| 8 |
$2,393,227 |
$845,824
$167,287 |
$1,380,116 |
| 9 |
$2,512,894 |
$890,101
$175,651 |
$1,447,142 |
| 10 |
$2,638,550 |
$936,594
$184,435 |
$1,517,521 |
| 11 |
$2,770,421 |
$985,386
$193,652 |
$1,591,383 |
| 12 |
$2,908,959 |
$1,036,645
$203,336 |
$1,668,978 |
| 13 |
$3,054,390 |
$1,090,455
$213,502 |
$1,750,433 |
| 14 |
$3,207,166 |
$1,146,982
$224,181 |
$1,836,003 |
| 15 |
$3,367,513 |
$1,206,310
$235,389 |
$1,925,814 |
| 16 |
$3,535,883 |
$1,268,607
$247,158 |
$2,020,118 |
| 17 |
$3,712,615 |
$1,333,998
$259,512 |
$2,119,105 |
| 18 |
$3,898,274 |
$1,402,692
$272,489 |
$2,223,093 |
| 19 |
$4,093,199 |
$1,474,814
$286,115 |
$2,332,270 |
| 20 |
$4,297,842 |
$1,550,532
$300,419 |
$2,446,891 |
| 21 |
$4,512,768 |
$1,630,055
$315,442 |
$2,567,271 |
| 22 |
$4,738,429 |
$1,713,549
$331,216 |
$2,693,664 |
| 23 |
$4,975,277 |
$1,801,183
$347,772 |
$2,826,322 |
| 24 |
$5,224,103 |
$1,893,248
$365,165 |
$2,965,690 |
| 25 |
$5,485,246 |
$1,989,871
$383,419 |
$3,111,956 |
| 26 |
$5,759,610 |
$2,091,386
$402,597 |
$3,265,627 |
| 27 |
$6,047,534 |
$2,197,918
$422,723 |
$3,426,893 |
| 28 |
$6,349,922 |
$2,309,802
$443,860 |
$3,596,260 |
| 29 |
$6,667,452 |
$2,427,288
$466,055 |
$3,774,109 |
| 30 |
$7,000,802 |
$2,550,627
$489,356 |
$3,960,819 |
|
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