The jackpot for the MEGA Millions draw on Fri Feb 28, 2025, is projected to be $197 Million, with an option for a cash payout of $91.9 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 Feb 28, 2025 |
|---|
| Draw Date | Fri Feb 28, 2025 | | Projected Jackpot | $197,000,000 | | Cash Value | $91,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $91,900,000 | | Federal Tax(24%) | $22,056,000 | | Additional Federal Tax | $11,907,330 | | State Tax(6%) | $5,514,000 | | Net Lumpsum Payment | $52,422,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,965,047 |
$1,057,398
$177,903 |
$1,729,746 |
| 2 |
$3,113,388 |
$1,112,284
$186,803 |
$1,814,301 |
| 3 |
$3,269,018 |
$1,169,867
$196,141 |
$1,903,010 |
| 4 |
$3,432,528 |
$1,230,366
$205,952 |
$1,996,210 |
| 5 |
$3,604,115 |
$1,293,853
$216,247 |
$2,094,015 |
| 6 |
$3,784,370 |
$1,360,547
$227,062 |
$2,196,761 |
| 7 |
$3,973,490 |
$1,430,522
$238,409 |
$2,304,559 |
| 8 |
$4,172,263 |
$1,504,068
$250,336 |
$2,417,859 |
| 9 |
$4,380,886 |
$1,581,258
$262,853 |
$2,536,775 |
| 10 |
$4,599,950 |
$1,662,312
$275,997 |
$2,661,641 |
| 11 |
$4,829,849 |
$1,747,375
$289,791 |
$2,792,683 |
| 12 |
$5,071,371 |
$1,836,738
$304,282 |
$2,930,351 |
| 13 |
$5,324,910 |
$1,930,547
$319,495 |
$3,074,868 |
| 14 |
$5,591,254 |
$2,029,094
$335,475 |
$3,226,685 |
| 15 |
$5,870,797 |
$2,132,525
$352,248 |
$3,386,024 |
| 16 |
$6,164,327 |
$2,241,131
$369,860 |
$3,553,336 |
| 17 |
$6,472,435 |
$2,355,131
$388,346 |
$3,728,958 |
| 18 |
$6,796,106 |
$2,474,890
$407,766 |
$3,913,450 |
| 19 |
$7,135,931 |
$2,600,625
$428,156 |
$4,107,150 |
| 20 |
$7,492,698 |
$2,732,629
$449,562 |
$4,310,507 |
| 21 |
$7,867,392 |
$2,871,265
$472,044 |
$4,524,083 |
| 22 |
$8,260,801 |
$3,016,827
$495,648 |
$4,748,326 |
| 23 |
$8,673,713 |
$3,169,604
$520,423 |
$4,983,686 |
| 24 |
$9,107,507 |
$3,330,108
$546,450 |
$5,230,949 |
| 25 |
$9,562,774 |
$3,498,557
$573,766 |
$5,490,451 |
| 26 |
$10,041,090 |
$3,675,534
$602,465 |
$5,763,091 |
| 27 |
$10,543,046 |
$3,861,257
$632,583 |
$6,049,206 |
| 28 |
$11,070,218 |
$4,056,311
$664,213 |
$6,349,694 |
| 29 |
$11,623,788 |
$4,261,132
$697,427 |
$6,665,229 |
| 30 |
$12,204,938 |
$4,476,157
$732,296 |
$6,996,485 |
|
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