Megabucks Plus
Latest draw · Saturday, July 4, 2026
Megabucks Plus Tax Calculator
See what you'd really take home from a Megabucks Plus prize after federal and Vermont state tax — as a lump sum or a 30-year annuity.
- Prize (lump-sum cash)
- $2,050,000
- Federal tax
- − $716,688
- State tax (Vermont · 8.75%)
- − $179,375
- Net take-home
- $1,153,937
Estimate only — uses single-filer federal brackets and Vermont's top lottery-withholding rate. Actual tax depends on your total income, filing status and deductions. Not tax advice.
Megabucks Plus tax FAQ
How much tax do you pay on a Megabucks Plus jackpot in Vermont?
On a $2,050,000 Megabucks Plus jackpot taken as a lump sum, you'd pay about $716,688 in federal tax and $179,375 in Vermont state tax, leaving roughly $1,153,937.
Does Vermont tax Megabucks Plus lottery winnings?
Yes — Vermont withholds about 8.75% in state tax on Megabucks Plus winnings, on top of federal tax.
Should I take the Megabucks Plus lump sum or annuity?
The lump sum pays a smaller, discounted amount now with full control; the 30-year annuity pays the full advertised jackpot spread over time and can keep you in lower yearly tax brackets. The best choice depends on your goals and tax situation.