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 |
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Draw Date | Tue Feb 18, 2025 | Projected Jackpot | $145,000,000 | Cash Value | $66,300,000 |
Lumpsum Option Taxes and Payment |
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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 |
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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 |
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