Virginia Lottery

VALottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Oct 28, 2025 is estimated to be $714 Million, with a cash option of 334.1 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 Tue Oct 28, 2025

Draw Date	Jackpot	Cash Option
Tue Oct 28, 2025	$714,000,000	$334,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$334,100,000
Federal Tax(24%)	$80,184,000
Additional Federal Tax	$43,393,330
State Tax(4%)	$13,364,000
Net Lumpsum Payment	$197,158,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$10,746,414	-$3,936,504 -$429,857	$6,380,053
2	$11,284,056	-$4,135,431 -$451,362	$6,697,263
3	$11,848,116	-$4,344,133 -$473,925	$7,030,058
4	$12,440,736	-$4,563,403 -$497,629	$7,379,704
5	$13,062,630	-$4,793,503 -$522,505	$7,746,622
6	$13,715,940	-$5,035,228 -$548,638	$8,132,074
7	$14,401,380	-$5,288,841 -$576,055	$8,536,484
8	$15,121,806	-$5,555,399 -$604,872	$8,961,535
9	$15,877,932	-$5,835,165 -$635,117	$9,407,650
10	$16,671,900	-$6,128,933 -$666,876	$9,876,091
11	$17,505,138	-$6,437,231 -$700,206	$10,367,701
12	$18,380,502	-$6,761,116 -$735,220	$10,884,166
13	$19,299,420	-$7,101,116 -$771,977	$11,426,327
14	$20,264,748	-$7,458,287 -$810,590	$11,995,871
15	$21,277,914	-$7,833,159 -$851,117	$12,593,638
16	$22,341,774	-$8,226,787 -$893,671	$13,221,316
17	$23,458,470	-$8,639,964 -$938,339	$13,880,167
18	$24,631,572	-$9,074,012 -$985,263	$14,572,297
19	$25,863,222	-$9,529,723 -$1,034,529	$15,298,970
20	$27,156,276	-$10,008,153 -$1,086,251	$16,061,872
21	$28,514,304	-$10,510,623 -$1,140,572	$16,863,109
22	$29,940,162	-$11,038,190 -$1,197,606	$17,704,366
23	$31,436,706	-$11,591,912 -$1,257,468	$18,587,326
24	$33,008,934	-$12,173,636 -$1,320,357	$19,514,941
25	$34,658,988	-$12,784,156 -$1,386,360	$20,488,472
26	$36,392,580	-$13,425,585 -$1,455,703	$21,511,292
27	$38,211,852	-$14,098,716 -$1,528,474	$22,584,662
28	$40,122,516	-$14,805,661 -$1,604,901	$23,711,954
29	$42,128,856	-$15,548,007 -$1,685,154	$24,895,695
30	$44,235,156	-$16,327,338 -$1,769,406	$26,138,412