The jackpot for the MEGA Millions draw on Fri Oct 16, 2026, is projected to be $403 Million, with an option for a cash payout of $162.1 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 Oct 16, 2026 |
|---|
| Draw Date | Fri Oct 16, 2026 | | Projected Jackpot | $403,000,000 | | Cash Value | $162,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $162,100,000 | | Federal Tax(24%) | $38,904,000 | | Additional Federal Tax | $21,033,330 | | State Tax(6%) | $9,726,000 | | Net Lumpsum Payment | $92,436,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,065,553 |
$2,204,585
$363,933 |
$3,497,035 |
| 2 |
$6,369,012 |
$2,316,865
$382,141 |
$3,670,006 |
| 3 |
$6,687,382 |
$2,434,662
$401,243 |
$3,851,477 |
| 4 |
$7,021,872 |
$2,558,423
$421,312 |
$4,042,137 |
| 5 |
$7,372,885 |
$2,688,298
$442,373 |
$4,242,214 |
| 6 |
$7,741,630 |
$2,824,733
$464,498 |
$4,452,399 |
| 7 |
$8,128,510 |
$2,967,879
$487,711 |
$4,672,920 |
| 8 |
$8,535,137 |
$3,118,331
$512,108 |
$4,904,698 |
| 9 |
$8,961,914 |
$3,276,239
$537,715 |
$5,147,960 |
| 10 |
$9,410,050 |
$3,442,049
$564,603 |
$5,403,398 |
| 11 |
$9,880,351 |
$3,616,060
$592,821 |
$5,671,470 |
| 12 |
$10,374,429 |
$3,798,869
$622,466 |
$5,953,094 |
| 13 |
$10,893,090 |
$3,990,774
$653,585 |
$6,248,731 |
| 14 |
$11,437,946 |
$4,192,370
$686,277 |
$6,559,299 |
| 15 |
$12,009,803 |
$4,403,957
$720,588 |
$6,885,258 |
| 16 |
$12,610,273 |
$4,626,131
$756,616 |
$7,227,526 |
| 17 |
$13,240,565 |
$4,859,339
$794,434 |
$7,586,792 |
| 18 |
$13,902,694 |
$5,104,327
$834,162 |
$7,964,205 |
| 19 |
$14,597,869 |
$5,361,542
$875,872 |
$8,360,455 |
| 20 |
$15,327,702 |
$5,631,580
$919,662 |
$8,776,460 |
| 21 |
$16,094,208 |
$5,915,187
$965,652 |
$9,213,369 |
| 22 |
$16,898,999 |
$6,212,960
$1,013,940 |
$9,672,099 |
| 23 |
$17,743,687 |
$6,525,495
$1,064,621 |
$10,153,571 |
| 24 |
$18,631,093 |
$6,853,835
$1,117,866 |
$10,659,392 |
| 25 |
$19,562,426 |
$7,198,428
$1,173,746 |
$11,190,252 |
| 26 |
$20,540,910 |
$7,560,467
$1,232,455 |
$11,747,988 |
| 27 |
$21,567,754 |
$7,940,399
$1,294,065 |
$12,333,290 |
| 28 |
$22,646,182 |
$8,339,418
$1,358,771 |
$12,947,993 |
| 29 |
$23,778,612 |
$8,758,417
$1,426,717 |
$13,593,478 |
| 30 |
$24,967,462 |
$9,198,291
$1,498,048 |
$14,271,123 |
|
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