The jackpot for the MEGA Millions draw on Fri Feb 7, 2025, is projected to be $94 Million, with an option for a cash payout of $42.3 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 7, 2025 |
|---|
| Draw Date | Fri Feb 7, 2025 | | Projected Jackpot | $94,000,000 | | Cash Value | $42,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $42,300,000 | | Federal Tax(24%) | $10,152,000 | | Additional Federal Tax | $5,459,330 | | State Tax(6%) | $2,538,000 | | Net Lumpsum Payment | $24,150,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,414,794 |
$483,804
$84,888 |
$846,102 |
| 2 |
$1,485,576 |
$509,994
$89,135 |
$886,447 |
| 3 |
$1,559,836 |
$537,470
$93,590 |
$928,776 |
| 4 |
$1,637,856 |
$566,337
$98,271 |
$973,248 |
| 5 |
$1,719,730 |
$596,630
$103,184 |
$1,019,916 |
| 6 |
$1,805,740 |
$628,454
$108,344 |
$1,068,942 |
| 7 |
$1,895,980 |
$661,843
$113,759 |
$1,120,378 |
| 8 |
$1,990,826 |
$696,936
$119,450 |
$1,174,440 |
| 9 |
$2,090,372 |
$733,768
$125,422 |
$1,231,182 |
| 10 |
$2,194,900 |
$772,443
$131,694 |
$1,290,763 |
| 11 |
$2,304,598 |
$813,032
$138,276 |
$1,353,290 |
| 12 |
$2,419,842 |
$855,672
$145,191 |
$1,418,979 |
| 13 |
$2,540,820 |
$900,434
$152,449 |
$1,487,937 |
| 14 |
$2,667,908 |
$947,456
$160,074 |
$1,560,378 |
| 15 |
$2,801,294 |
$996,809
$168,078 |
$1,636,407 |
| 16 |
$2,941,354 |
$1,048,631
$176,481 |
$1,716,242 |
| 17 |
$3,088,370 |
$1,103,027
$185,302 |
$1,800,041 |
| 18 |
$3,242,812 |
$1,160,171
$194,569 |
$1,888,072 |
| 19 |
$3,404,962 |
$1,220,166
$204,298 |
$1,980,498 |
| 20 |
$3,575,196 |
$1,283,153
$214,512 |
$2,077,531 |
| 21 |
$3,753,984 |
$1,349,304
$225,239 |
$2,179,441 |
| 22 |
$3,941,702 |
$1,418,760
$236,502 |
$2,286,440 |
| 23 |
$4,138,726 |
$1,491,659
$248,324 |
$2,398,743 |
| 24 |
$4,345,714 |
$1,568,245
$260,743 |
$2,516,726 |
| 25 |
$4,562,948 |
$1,648,621
$273,777 |
$2,640,550 |
| 26 |
$4,791,180 |
$1,733,067
$287,471 |
$2,770,642 |
| 27 |
$5,030,692 |
$1,821,686
$301,842 |
$2,907,164 |
| 28 |
$5,282,236 |
$1,914,758
$316,934 |
$3,050,544 |
| 29 |
$5,546,376 |
$2,012,490
$332,783 |
$3,201,103 |
| 30 |
$5,823,676 |
$2,115,091
$349,421 |
$3,359,164 |
|
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