Virginia Lottery

VALottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jan 2, 2026 is estimated to be $157 Million, with a cash option of 72 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 Jan 2, 2026

Draw Date	Jackpot	Cash Option
Fri Jan 2, 2026	$157,000,000	$72,000,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$72,000,000
Federal Tax(24%)	$17,280,000
Additional Federal Tax	$9,320,330
State Tax(4%)	$2,880,000
Net Lumpsum Payment	$42,519,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,363,007	-$834,643 -$94,520	$1,433,844
2	$2,481,228	-$878,385 -$99,249	$1,503,594
3	$2,605,258	-$924,276 -$104,210	$1,576,772
4	$2,735,568	-$972,491 -$109,423	$1,653,654
5	$2,872,315	-$1,023,087 -$114,893	$1,734,335
6	$3,015,970	-$1,076,239 -$120,639	$1,819,092
7	$3,166,690	-$1,132,006 -$126,668	$1,908,016
8	$3,325,103	-$1,190,618 -$133,004	$2,001,481
9	$3,491,366	-$1,252,136 -$139,655	$2,099,575
10	$3,665,950	-$1,316,732 -$146,638	$2,202,580
11	$3,849,169	-$1,384,523 -$153,967	$2,310,679
12	$4,041,651	-$1,455,741 -$161,666	$2,424,244
13	$4,243,710	-$1,530,503 -$169,748	$2,543,459
14	$4,455,974	-$1,609,041 -$178,239	$2,668,694
15	$4,678,757	-$1,691,470 -$187,150	$2,800,137
16	$4,912,687	-$1,778,025 -$196,507	$2,938,155
17	$5,158,235	-$1,868,877 -$206,329	$3,083,029
18	$5,416,186	-$1,964,319 -$216,647	$3,235,220
19	$5,687,011	-$2,064,524 -$227,480	$3,395,007
20	$5,971,338	-$2,169,725 -$238,854	$3,562,759
21	$6,269,952	-$2,280,213 -$250,798	$3,738,941
22	$6,583,481	-$2,396,218 -$263,339	$3,923,924
23	$6,912,553	-$2,517,975 -$276,502	$4,118,076
24	$7,258,267	-$2,645,889 -$290,331	$4,322,047
25	$7,621,094	-$2,780,135 -$304,844	$4,536,115
26	$8,002,290	-$2,921,178 -$320,092	$4,761,020
27	$8,402,326	-$3,069,191 -$336,093	$4,997,042
28	$8,822,458	-$3,224,640 -$352,898	$5,244,920
29	$9,263,628	-$3,387,873 -$370,545	$5,505,210
30	$9,726,778	-$3,559,238 -$389,071	$5,778,469