The jackpot for the MEGA Millions draw on Fri Mar 21, 2025, is projected to be $324 Million, with an option for a cash payout of $150.6 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 Mar 21, 2025 |
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Draw Date | Fri Mar 21, 2025 | Projected Jackpot | $324,000,000 | Cash Value | $150,600,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $150,600,000 | Federal Tax(24%) | $36,144,000 | Additional Federal Tax | $19,538,330 | State Tax(6%) | $9,036,000 | Net Lumpsum Payment | $85,881,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$4,876,524 |
$1,764,644 $292,591 |
$2,819,289 |
2 |
$5,120,496 |
$1,854,914 $307,230 |
$2,958,352 |
3 |
$5,376,456 |
$1,949,619 $322,587 |
$3,104,250 |
4 |
$5,645,376 |
$2,049,120 $338,723 |
$3,257,533 |
5 |
$5,927,580 |
$2,153,535 $355,655 |
$3,418,390 |
6 |
$6,224,040 |
$2,263,225 $373,442 |
$3,587,373 |
7 |
$6,535,080 |
$2,378,310 $392,105 |
$3,764,665 |
8 |
$6,861,996 |
$2,499,269 $411,720 |
$3,951,007 |
9 |
$7,205,112 |
$2,626,222 $432,307 |
$4,146,583 |
10 |
$7,565,400 |
$2,759,528 $453,924 |
$4,351,948 |
11 |
$7,943,508 |
$2,899,428 $476,610 |
$4,567,470 |
12 |
$8,340,732 |
$3,046,401 $500,444 |
$4,793,887 |
13 |
$8,757,720 |
$3,200,687 $525,463 |
$5,031,570 |
14 |
$9,195,768 |
$3,362,765 $551,746 |
$5,281,257 |
15 |
$9,655,524 |
$3,532,874 $579,331 |
$5,543,319 |
16 |
$10,138,284 |
$3,711,495 $608,297 |
$5,818,492 |
17 |
$10,645,020 |
$3,898,988 $638,701 |
$6,107,331 |
18 |
$11,177,352 |
$4,095,951 $670,641 |
$6,410,760 |
19 |
$11,736,252 |
$4,302,744 $704,175 |
$6,729,333 |
20 |
$12,323,016 |
$4,519,846 $739,381 |
$7,063,789 |
21 |
$12,939,264 |
$4,747,858 $776,356 |
$7,415,050 |
22 |
$13,586,292 |
$4,987,258 $815,178 |
$7,783,856 |
23 |
$14,265,396 |
$5,238,527 $855,924 |
$8,170,945 |
24 |
$14,978,844 |
$5,502,503 $898,731 |
$8,577,610 |
25 |
$15,727,608 |
$5,779,545 $943,656 |
$9,004,407 |
26 |
$16,514,280 |
$6,070,614 $990,857 |
$9,452,809 |
27 |
$17,339,832 |
$6,376,068 $1,040,390 |
$9,923,374 |
28 |
$18,206,856 |
$6,696,867 $1,092,411 |
$10,417,578 |
29 |
$19,117,296 |
$7,033,730 $1,147,038 |
$10,936,528 |
30 |
$20,073,096 |
$7,387,376 $1,204,386 |
$11,481,334 |
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