Vermont Lottery

VTLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Apr 1, 2025 is estimated to be $29 Million, with a cash option of 13.3 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 Apr 1, 2025

Draw Date	Jackpot	Cash Option
Tue Apr 1, 2025	$29,000,000	$13,300,000

Lumpsum Option Taxes and Payment

Category	Amount
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

Year	Gross Payment	Fed/State Tax	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