Jackpot Analysis West Virginia Mega Millions

Jackpot Analysis for West Virginia Mega Millions
The jackpot for the MEGA Millions draw on Tue Feb 18, 2025, is projected to be $145 Million, with an option for a cash payout of $66.3 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 West Virginia residents, the state will deduct 6.5% from your lottery earnings.

West Virginia MEGA Millions Jackpot/Cash Option for Tue Feb 18, 2025
Draw DateTue Feb 18, 2025
Projected Jackpot$145,000,000
Cash Value$66,300,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$66,300,000
Federal Tax(24%)$15,912,000
Additional Federal Tax$8,579,330
State Tax(6.5%)$4,309,500
Net Lumpsum Payment$37,499,170
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $2,182,395 $767,817
$141,856
$1,272,722
2 $2,291,580 $808,215
$148,953
$1,334,412
3 $2,406,130 $850,598
$156,398
$1,399,134
4 $2,526,480 $895,128
$164,221
$1,467,131
5 $2,652,775 $941,857
$172,430
$1,538,488
6 $2,785,450 $990,947
$181,054
$1,613,449
7 $2,924,650 $1,042,451
$190,102
$1,692,097
8 $3,070,955 $1,096,584
$199,612
$1,774,759
9 $3,224,510 $1,153,399
$209,593
$1,861,518
10 $3,385,750 $1,213,058
$220,074
$1,952,618
11 $3,554,965 $1,275,667
$231,073
$2,048,225
12 $3,732,735 $1,341,442
$242,628
$2,148,665
13 $3,919,350 $1,410,490
$254,758
$2,254,102
14 $4,115,390 $1,483,025
$267,500
$2,364,865
15 $4,321,145 $1,559,154
$280,874
$2,481,117
16 $4,537,195 $1,639,093
$294,918
$2,603,184
17 $4,763,975 $1,723,001
$309,658
$2,731,316
18 $5,002,210 $1,811,148
$325,144
$2,865,918
19 $5,252,335 $1,903,694
$341,402
$3,007,239
20 $5,514,930 $2,000,854
$358,470
$3,155,606
21 $5,790,720 $2,102,897
$376,397
$3,311,426
22 $6,080,285 $2,210,036
$395,219
$3,475,030
23 $6,384,205 $2,322,486
$414,973
$3,646,746
24 $6,703,495 $2,440,624
$435,727
$3,827,144
25 $7,038,590 $2,564,609
$457,508
$4,016,473
26 $7,390,650 $2,694,871
$480,392
$4,215,387
27 $7,760,110 $2,831,571
$504,407
$4,424,132
28 $8,148,130 $2,975,138
$529,628
$4,643,364
29 $8,555,580 $3,125,895
$556,113
$4,873,572
30 $8,983,330 $3,284,162
$583,916
$5,115,252