The jackpot for the MEGA Millions draw on Fri Nov 22, 2024, is projected to be $453 Million, with an option for a cash payout of $209.6 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 Vermont residents, the state will deduct 6% from your lottery earnings.
| Vermont MEGA Millions Jackpot/Cash Option for Fri Nov 22, 2024 |
|---|
| Draw Date | Fri Nov 22, 2024 | | Projected Jackpot | $453,000,000 | | Cash Value | $209,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $209,600,000 | | Federal Tax(24%) | $50,304,000 | | Additional Federal Tax | $27,208,330 | | State Tax(6%) | $12,576,000 | | Net Lumpsum Payment | $119,511,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,818,103 |
$2,483,028
$409,086 |
$3,925,989 |
| 2 |
$7,159,212 |
$2,609,239
$429,553 |
$4,120,420 |
| 3 |
$7,517,082 |
$2,741,651
$451,025 |
$4,324,406 |
| 4 |
$7,893,072 |
$2,880,767
$473,584 |
$4,538,721 |
| 5 |
$8,287,635 |
$3,026,755
$497,258 |
$4,763,622 |
| 6 |
$8,702,130 |
$3,180,118
$522,128 |
$4,999,884 |
| 7 |
$9,137,010 |
$3,341,024
$548,221 |
$5,247,765 |
| 8 |
$9,594,087 |
$3,510,143
$575,645 |
$5,508,299 |
| 9 |
$10,073,814 |
$3,687,642
$604,429 |
$5,781,743 |
| 10 |
$10,577,550 |
$3,874,024
$634,653 |
$6,068,873 |
| 11 |
$11,106,201 |
$4,069,625
$666,372 |
$6,370,204 |
| 12 |
$11,661,579 |
$4,275,115
$699,695 |
$6,686,769 |
| 13 |
$12,244,590 |
$4,490,829
$734,675 |
$7,019,086 |
| 14 |
$12,857,046 |
$4,717,437
$771,423 |
$7,368,186 |
| 15 |
$13,499,853 |
$4,955,276
$809,991 |
$7,734,586 |
| 16 |
$14,174,823 |
$5,205,015
$850,489 |
$8,119,319 |
| 17 |
$14,883,315 |
$5,467,157
$892,999 |
$8,523,159 |
| 18 |
$15,627,594 |
$5,742,540
$937,656 |
$8,947,398 |
| 19 |
$16,409,019 |
$6,031,667
$984,541 |
$9,392,811 |
| 20 |
$17,229,402 |
$6,335,209
$1,033,764 |
$9,860,429 |
| 21 |
$18,091,008 |
$6,654,003
$1,085,460 |
$10,351,545 |
| 22 |
$18,995,649 |
$6,988,721
$1,139,739 |
$10,867,189 |
| 23 |
$19,945,137 |
$7,340,031
$1,196,708 |
$11,408,398 |
| 24 |
$20,942,643 |
$7,709,108
$1,256,559 |
$11,976,976 |
| 25 |
$21,989,526 |
$8,096,455
$1,319,372 |
$12,573,699 |
| 26 |
$23,089,410 |
$8,503,412
$1,385,365 |
$13,200,633 |
| 27 |
$24,243,654 |
$8,930,482
$1,454,619 |
$13,858,553 |
| 28 |
$25,455,882 |
$9,379,007
$1,527,353 |
$14,549,522 |
| 29 |
$26,728,812 |
$9,849,991
$1,603,729 |
$15,275,092 |
| 30 |
$28,065,162 |
$10,344,440
$1,683,910 |
$16,036,812 |
|
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