The jackpot for the MEGA Millions draw on Fri Jul 4, 2025, is projected to be $60 Million, with an option for a cash payout of $26.9 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 Jul 4, 2025 |
|---|
| Draw Date | Fri Jul 4, 2025 | | Projected Jackpot | $60,000,000 | | Cash Value | $26,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $26,900,000 | | Federal Tax(24%) | $6,456,000 | | Additional Federal Tax | $3,457,330 | | State Tax(6%) | $1,614,000 | | Net Lumpsum Payment | $15,372,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$903,060 |
$294,463
$54,184 |
$554,413 |
| 2 |
$948,240 |
$311,179
$56,894 |
$580,167 |
| 3 |
$995,640 |
$328,717
$59,738 |
$607,185 |
| 4 |
$1,045,440 |
$347,143
$62,726 |
$635,571 |
| 5 |
$1,097,700 |
$366,479
$65,862 |
$665,359 |
| 6 |
$1,152,600 |
$386,792
$69,156 |
$696,652 |
| 7 |
$1,210,200 |
$408,104
$72,612 |
$729,484 |
| 8 |
$1,270,740 |
$430,504
$76,244 |
$763,992 |
| 9 |
$1,334,280 |
$454,014
$80,057 |
$800,209 |
| 10 |
$1,401,000 |
$478,700
$84,060 |
$838,240 |
| 11 |
$1,471,020 |
$504,608
$88,261 |
$878,151 |
| 12 |
$1,544,580 |
$531,825
$92,675 |
$920,080 |
| 13 |
$1,621,800 |
$560,396
$97,308 |
$964,096 |
| 14 |
$1,702,920 |
$590,411
$102,175 |
$1,010,334 |
| 15 |
$1,788,060 |
$621,913
$107,284 |
$1,058,863 |
| 16 |
$1,877,460 |
$654,991
$112,648 |
$1,109,821 |
| 17 |
$1,971,300 |
$689,711
$118,278 |
$1,163,311 |
| 18 |
$2,069,880 |
$726,186
$124,193 |
$1,219,501 |
| 19 |
$2,173,380 |
$764,481
$130,403 |
$1,278,496 |
| 20 |
$2,282,040 |
$804,685
$136,922 |
$1,340,433 |
| 21 |
$2,396,160 |
$846,910
$143,770 |
$1,405,480 |
| 22 |
$2,515,980 |
$891,243
$150,959 |
$1,473,778 |
| 23 |
$2,641,740 |
$937,774
$158,504 |
$1,545,462 |
| 24 |
$2,773,860 |
$986,659
$166,432 |
$1,620,769 |
| 25 |
$2,912,520 |
$1,037,963
$174,751 |
$1,699,806 |
| 26 |
$3,058,200 |
$1,091,864
$183,492 |
$1,782,844 |
| 27 |
$3,211,080 |
$1,148,430
$192,665 |
$1,869,985 |
| 28 |
$3,371,640 |
$1,207,837
$202,298 |
$1,961,505 |
| 29 |
$3,540,240 |
$1,270,219
$212,414 |
$2,057,607 |
| 30 |
$3,717,240 |
$1,335,709
$223,034 |
$2,158,497 |
|
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