The jackpot for the MEGA Millions draw on Tue Apr 1, 2025, is projected to be $29 Million, with an option for a cash payout of $13.3 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 Tue Apr 1, 2025 |
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Draw Date | Tue Apr 1, 2025 | Projected Jackpot | $29,000,000 | Cash Value | $13,300,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $13,300,000 | Federal Tax(24%) | $3,192,000 | Additional Federal Tax | $1,689,330 | State Tax(6%) | $798,000 | Net Lumpsum Payment | $7,620,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$436,479 |
$121,828 $26,189 |
$288,462 |
2 |
$458,316 |
$129,907 $27,499 |
$300,910 |
3 |
$481,226 |
$138,384 $28,874 |
$313,968 |
4 |
$505,296 |
$147,290 $30,318 |
$327,688 |
5 |
$530,555 |
$156,636 $31,833 |
$342,086 |
6 |
$557,090 |
$166,454 $33,425 |
$357,211 |
7 |
$584,930 |
$176,754 $35,096 |
$373,080 |
8 |
$614,191 |
$187,581 $36,851 |
$389,759 |
9 |
$644,902 |
$198,944 $38,694 |
$407,264 |
10 |
$677,150 |
$210,876 $40,629 |
$425,645 |
11 |
$710,993 |
$223,398 $42,660 |
$444,935 |
12 |
$746,547 |
$236,553 $44,793 |
$465,201 |
13 |
$783,870 |
$250,362 $47,032 |
$486,476 |
14 |
$823,078 |
$264,869 $49,385 |
$508,824 |
15 |
$864,229 |
$280,095 $51,854 |
$532,280 |
16 |
$907,439 |
$296,083 $54,446 |
$556,910 |
17 |
$952,795 |
$312,865 $57,168 |
$582,762 |
18 |
$1,000,442 |
$330,494 $60,027 |
$609,921 |
19 |
$1,050,467 |
$349,003 $63,028 |
$638,436 |
20 |
$1,102,986 |
$368,435 $66,179 |
$668,372 |
21 |
$1,158,144 |
$388,844 $69,489 |
$699,811 |
22 |
$1,216,057 |
$410,271 $72,963 |
$732,823 |
23 |
$1,276,841 |
$432,762 $76,610 |
$767,469 |
24 |
$1,340,699 |
$456,389 $80,442 |
$803,868 |
25 |
$1,407,718 |
$481,186 $84,463 |
$842,069 |
26 |
$1,478,130 |
$507,238 $88,688 |
$882,204 |
27 |
$1,552,022 |
$534,579 $93,121 |
$924,322 |
28 |
$1,629,626 |
$563,292 $97,778 |
$968,556 |
29 |
$1,711,116 |
$593,443 $102,667 |
$1,015,006 |
30 |
$1,796,666 |
$625,097 $107,800 |
$1,063,769 |
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