Vermont Lottery

VTLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Feb 25, 2025 is estimated to be $181 Million, with a cash option of 82.7 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Vermont, your state will take 6% of your lottery winnings.

Please note that the calculation of the MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Vermont MEGA Millions Jackpot/Cash Option for Tue Feb 25, 2025

Draw Date	Jackpot	Cash Option
Tue Feb 25, 2025	$181,000,000	$82,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$82,700,000
Federal Tax(24%)	$19,848,000
Additional Federal Tax	$10,711,330
State Tax(6%)	$4,962,000
Net Lumpsum Payment	$47,178,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,724,231	-$968,296 -$163,454	$1,592,481
2	$2,860,524	-$1,018,724 -$171,631	$1,670,169
3	$3,003,514	-$1,071,631 -$180,211	$1,751,672
4	$3,153,744	-$1,127,216 -$189,225	$1,837,303
5	$3,311,395	-$1,185,547 -$198,684	$1,927,164
6	$3,477,010	-$1,246,824 -$208,621	$2,021,565
7	$3,650,770	-$1,311,115 -$219,046	$2,120,609
8	$3,833,399	-$1,378,688 -$230,004	$2,224,707
9	$4,025,078	-$1,449,609 -$241,505	$2,333,964
10	$4,226,350	-$1,524,080 -$253,581	$2,448,689
11	$4,437,577	-$1,602,234 -$266,255	$2,569,088
12	$4,659,483	-$1,684,339 -$279,569	$2,695,575
13	$4,892,430	-$1,770,529 -$293,546	$2,828,355
14	$5,137,142	-$1,861,073 -$308,229	$2,967,840
15	$5,393,981	-$1,956,103 -$323,639	$3,114,239
16	$5,663,671	-$2,055,889 -$339,820	$3,267,962
17	$5,946,755	-$2,160,630 -$356,805	$3,429,320
18	$6,244,138	-$2,270,661 -$374,648	$3,598,829
19	$6,556,363	-$2,386,185 -$393,382	$3,776,796
20	$6,884,154	-$2,507,467 -$413,049	$3,963,638
21	$7,228,416	-$2,634,844 -$433,705	$4,159,867
22	$7,589,873	-$2,768,583 -$455,392	$4,365,898
23	$7,969,249	-$2,908,953 -$478,155	$4,582,141
24	$8,367,811	-$3,056,420 -$502,069	$4,809,322
25	$8,786,102	-$3,211,188 -$527,166	$5,047,748
26	$9,225,570	-$3,373,791 -$553,534	$5,298,245
27	$9,686,758	-$3,544,431 -$581,205	$5,561,122
28	$10,171,114	-$3,723,643 -$610,267	$5,837,204
29	$10,679,724	-$3,911,828 -$640,783	$6,127,113
30	$11,213,674	-$4,109,390 -$672,820	$6,431,464