The jackpot for the MEGA Millions draw on Fri Nov 15, 2024, is projected to be $387 Million, with an option for a cash payout of $181.4 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 Nov 15, 2024 |
|---|
| Draw Date | Fri Nov 15, 2024 | | Projected Jackpot | $387,000,000 | | Cash Value | $181,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $181,400,000 | | Federal Tax(24%) | $43,536,000 | | Additional Federal Tax | $23,542,330 | | State Tax(6%) | $10,884,000 | | Net Lumpsum Payment | $103,437,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,824,737 |
$2,115,483
$349,484 |
$3,359,770 |
| 2 |
$6,116,148 |
$2,223,305
$366,969 |
$3,525,874 |
| 3 |
$6,421,878 |
$2,336,425
$385,313 |
$3,700,140 |
| 4 |
$6,743,088 |
$2,455,273
$404,585 |
$3,883,230 |
| 5 |
$7,080,165 |
$2,579,991
$424,810 |
$4,075,364 |
| 6 |
$7,434,270 |
$2,711,010
$446,056 |
$4,277,204 |
| 7 |
$7,805,790 |
$2,848,473
$468,347 |
$4,488,970 |
| 8 |
$8,196,273 |
$2,992,951
$491,776 |
$4,711,546 |
| 9 |
$8,606,106 |
$3,144,590
$516,366 |
$4,945,150 |
| 10 |
$9,036,450 |
$3,303,817
$542,187 |
$5,190,446 |
| 11 |
$9,488,079 |
$3,470,920
$569,285 |
$5,447,874 |
| 12 |
$9,962,541 |
$3,646,471
$597,752 |
$5,718,318 |
| 13 |
$10,460,610 |
$3,830,756
$627,637 |
$6,002,217 |
| 14 |
$10,983,834 |
$4,024,349
$659,030 |
$6,300,455 |
| 15 |
$11,532,987 |
$4,227,536
$691,979 |
$6,613,472 |
| 16 |
$12,109,617 |
$4,440,889
$726,577 |
$6,942,151 |
| 17 |
$12,714,885 |
$4,664,838
$762,893 |
$7,287,154 |
| 18 |
$13,350,726 |
$4,900,099
$801,044 |
$7,649,583 |
| 19 |
$14,018,301 |
$5,147,102
$841,098 |
$8,030,101 |
| 20 |
$14,719,158 |
$5,406,419
$883,149 |
$8,429,590 |
| 21 |
$15,455,232 |
$5,678,766
$927,314 |
$8,849,152 |
| 22 |
$16,228,071 |
$5,964,717
$973,684 |
$9,289,670 |
| 23 |
$17,039,223 |
$6,264,843
$1,022,353 |
$9,752,027 |
| 24 |
$17,891,397 |
$6,580,147
$1,073,484 |
$10,237,766 |
| 25 |
$18,785,754 |
$6,911,059
$1,127,145 |
$10,747,550 |
| 26 |
$19,725,390 |
$7,258,725
$1,183,523 |
$11,283,142 |
| 27 |
$20,711,466 |
$7,623,573
$1,242,688 |
$11,845,205 |
| 28 |
$21,747,078 |
$8,006,749
$1,304,825 |
$12,435,504 |
| 29 |
$22,834,548 |
$8,409,113
$1,370,073 |
$13,055,362 |
| 30 |
$23,976,198 |
$8,831,524
$1,438,572 |
$13,706,102 |
|
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