The jackpot for the MEGA Millions draw on Tue Apr 29, 2025, is projected to be $70 Million, with an option for a cash payout of $31.8 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 Tue Apr 29, 2025 |
---|
Draw Date | Tue Apr 29, 2025 | Projected Jackpot | $70,000,000 | Cash Value | $31,800,000 |
Lumpsum Option Taxes and Payment |
---|
Cash Gross Payment | $31,800,000 | Federal Tax(24%) | $7,632,000 | Additional Federal Tax | $4,094,330 | State Tax(6%) | $1,908,000 | Net Lumpsum Payment | $18,165,670 |
Annuity Payment in 30 Installations |
---|
Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$1,053,570 |
$350,151 $63,214 |
$640,205 |
2 |
$1,106,280 |
$369,654 $66,377 |
$670,249 |
3 |
$1,161,580 |
$390,115 $69,695 |
$701,770 |
4 |
$1,219,680 |
$411,612 $73,181 |
$734,887 |
5 |
$1,280,650 |
$434,171 $76,839 |
$769,640 |
6 |
$1,344,700 |
$457,869 $80,682 |
$806,149 |
7 |
$1,411,900 |
$482,733 $84,714 |
$844,453 |
8 |
$1,482,530 |
$508,866 $88,952 |
$884,712 |
9 |
$1,556,660 |
$536,295 $93,400 |
$926,965 |
10 |
$1,634,500 |
$565,095 $98,070 |
$971,335 |
11 |
$1,716,190 |
$595,321 $102,971 |
$1,017,898 |
12 |
$1,802,010 |
$627,074 $108,121 |
$1,066,815 |
13 |
$1,892,100 |
$660,407 $113,526 |
$1,118,167 |
14 |
$1,986,740 |
$695,424 $119,204 |
$1,172,112 |
15 |
$2,086,070 |
$732,176 $125,164 |
$1,228,730 |
16 |
$2,190,370 |
$770,767 $131,422 |
$1,288,181 |
17 |
$2,299,850 |
$811,275 $137,991 |
$1,350,584 |
18 |
$2,414,860 |
$853,829 $144,892 |
$1,416,139 |
19 |
$2,535,610 |
$898,506 $152,137 |
$1,484,967 |
20 |
$2,662,380 |
$945,411 $159,743 |
$1,557,226 |
21 |
$2,795,520 |
$994,673 $167,731 |
$1,633,116 |
22 |
$2,935,310 |
$1,046,395 $176,119 |
$1,712,796 |
23 |
$3,082,030 |
$1,100,681 $184,922 |
$1,796,427 |
24 |
$3,236,170 |
$1,157,713 $194,170 |
$1,884,287 |
25 |
$3,397,940 |
$1,217,568 $203,876 |
$1,976,496 |
26 |
$3,567,900 |
$1,280,453 $214,074 |
$2,073,373 |
27 |
$3,746,260 |
$1,346,447 $224,776 |
$2,175,037 |
28 |
$3,933,580 |
$1,415,755 $236,015 |
$2,281,810 |
29 |
$4,130,280 |
$1,488,534 $247,817 |
$2,393,929 |
30 |
$4,336,780 |
$1,564,939 $260,207 |
$2,511,634 |
|
|