Vermont Lottery

VTLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Apr 29, 2025 is estimated to be $70 Million, with a cash option of 31.8 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 Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Vermont MEGA Millions Jackpot/Cash Option for Tue Apr 29, 2025

Draw Date	Jackpot	Cash Option
Tue Apr 29, 2025	$70,000,000	$31,800,000

Lumpsum Option Taxes and Payment

Category	Amount
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

Year	Gross Payment	Fed/State Tax	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