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 West Virginia residents, the state will deduct 6.5% from your lottery earnings.
| West Virginia 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%) | $5,973,500 | | Net Lumpsum Payment | $51,963,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,965,047 |
$1,057,398
$192,728 |
$1,714,921 |
| 2 |
$3,113,388 |
$1,112,284
$202,370 |
$1,798,734 |
| 3 |
$3,269,018 |
$1,169,867
$212,486 |
$1,886,665 |
| 4 |
$3,432,528 |
$1,230,366
$223,114 |
$1,979,048 |
| 5 |
$3,604,115 |
$1,293,853
$234,267 |
$2,075,995 |
| 6 |
$3,784,370 |
$1,360,547
$245,984 |
$2,177,839 |
| 7 |
$3,973,490 |
$1,430,522
$258,277 |
$2,284,691 |
| 8 |
$4,172,263 |
$1,504,068
$271,197 |
$2,396,998 |
| 9 |
$4,380,886 |
$1,581,258
$284,758 |
$2,514,870 |
| 10 |
$4,599,950 |
$1,662,312
$298,997 |
$2,638,641 |
| 11 |
$4,829,849 |
$1,747,375
$313,940 |
$2,768,534 |
| 12 |
$5,071,371 |
$1,836,738
$329,639 |
$2,904,994 |
| 13 |
$5,324,910 |
$1,930,547
$346,119 |
$3,048,244 |
| 14 |
$5,591,254 |
$2,029,094
$363,432 |
$3,198,728 |
| 15 |
$5,870,797 |
$2,132,525
$381,602 |
$3,356,670 |
| 16 |
$6,164,327 |
$2,241,131
$400,681 |
$3,522,515 |
| 17 |
$6,472,435 |
$2,355,131
$420,708 |
$3,696,596 |
| 18 |
$6,796,106 |
$2,474,890
$441,747 |
$3,879,469 |
| 19 |
$7,135,931 |
$2,600,625
$463,836 |
$4,071,470 |
| 20 |
$7,492,698 |
$2,732,629
$487,025 |
$4,273,044 |
| 21 |
$7,867,392 |
$2,871,265
$511,380 |
$4,484,747 |
| 22 |
$8,260,801 |
$3,016,827
$536,952 |
$4,707,022 |
| 23 |
$8,673,713 |
$3,169,604
$563,791 |
$4,940,318 |
| 24 |
$9,107,507 |
$3,330,108
$591,988 |
$5,185,411 |
| 25 |
$9,562,774 |
$3,498,557
$621,580 |
$5,442,637 |
| 26 |
$10,041,090 |
$3,675,534
$652,671 |
$5,712,885 |
| 27 |
$10,543,046 |
$3,861,257
$685,298 |
$5,996,491 |
| 28 |
$11,070,218 |
$4,056,311
$719,564 |
$6,294,343 |
| 29 |
$11,623,788 |
$4,261,132
$755,546 |
$6,607,110 |
| 30 |
$12,204,938 |
$4,476,157
$793,321 |
$6,935,460 |
|
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