Virginia Lottery

VALottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jul 18, 2025 is estimated to be $50 Million, with a cash option of 22.1 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Virginia, your state will take 4% of your lottery winnings.

Please note that the calculation of the MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Virginia MEGA Millions Jackpot/Cash Option for Fri Jul 18, 2025

Draw Date	Jackpot	Cash Option
Fri Jul 18, 2025	$50,000,000	$22,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$22,100,000
Federal Tax(24%)	$5,304,000
Additional Federal Tax	$2,833,330
State Tax(4%)	$884,000
Net Lumpsum Payment	$13,078,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$752,550	-$238,774 -$30,102	$483,674
2	$790,200	-$252,704 -$31,608	$505,888
3	$829,700	-$267,319 -$33,188	$529,193
4	$871,200	-$282,674 -$34,848	$553,678
5	$914,750	-$298,788 -$36,590	$579,372
6	$960,500	-$315,715 -$38,420	$606,365
7	$1,008,500	-$333,475 -$40,340	$634,685
8	$1,058,950	-$352,142 -$42,358	$664,450
9	$1,111,900	-$371,733 -$44,476	$695,691
10	$1,167,500	-$392,305 -$46,700	$728,495
11	$1,225,850	-$413,895 -$49,034	$762,921
12	$1,287,150	-$436,576 -$51,486	$799,088
13	$1,351,500	-$460,385 -$54,060	$837,055
14	$1,419,100	-$485,397 -$56,764	$876,939
15	$1,490,050	-$511,649 -$59,602	$918,799
16	$1,564,550	-$539,214 -$62,582	$962,754
17	$1,642,750	-$568,148 -$65,710	$1,008,892
18	$1,724,900	-$598,543 -$68,996	$1,057,361
19	$1,811,150	-$630,456 -$72,446	$1,108,248
20	$1,901,700	-$663,959 -$76,068	$1,161,673
21	$1,996,800	-$699,146 -$79,872	$1,217,782
22	$2,096,650	-$736,091 -$83,866	$1,276,693
23	$2,201,450	-$774,867 -$88,058	$1,338,525
24	$2,311,550	-$815,604 -$92,462	$1,403,484
25	$2,427,100	-$858,357 -$97,084	$1,471,659
26	$2,548,500	-$903,275 -$101,940	$1,543,285
27	$2,675,900	-$950,413 -$107,036	$1,618,451
28	$2,809,700	-$999,919 -$112,388	$1,697,393
29	$2,950,200	-$1,051,904 -$118,008	$1,780,288
30	$3,097,700	-$1,106,479 -$123,908	$1,867,313