Virginia Lottery

VALottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Aug 8, 2025 is estimated to be $166 Million, with a cash option of 75.2 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 Aug 8, 2025

Draw Date	Jackpot	Cash Option
Fri Aug 8, 2025	$166,000,000	$75,200,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$75,200,000
Federal Tax(24%)	$18,048,000
Additional Federal Tax	$9,736,330
State Tax(4%)	$3,008,000
Net Lumpsum Payment	$44,407,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,498,466	-$884,763 -$99,939	$1,513,764
2	$2,623,464	-$931,012 -$104,939	$1,587,513
3	$2,754,604	-$979,534 -$110,184	$1,664,886
4	$2,892,384	-$1,030,512 -$115,695	$1,746,177
5	$3,036,970	-$1,084,009 -$121,479	$1,831,482
6	$3,188,860	-$1,140,209 -$127,554	$1,921,097
7	$3,348,220	-$1,199,172 -$133,929	$2,015,119
8	$3,515,714	-$1,261,145 -$140,629	$2,113,940
9	$3,691,508	-$1,326,188 -$147,660	$2,217,660
10	$3,876,100	-$1,394,487 -$155,044	$2,326,569
11	$4,069,822	-$1,466,165 -$162,793	$2,440,864
12	$4,273,338	-$1,541,465 -$170,934	$2,560,939
13	$4,486,980	-$1,620,513 -$179,479	$2,686,988
14	$4,711,412	-$1,703,553 -$188,456	$2,819,403
15	$4,946,966	-$1,790,708 -$197,879	$2,958,379
16	$5,194,306	-$1,882,224 -$207,772	$3,104,310
17	$5,453,930	-$1,978,284 -$218,157	$3,257,489
18	$5,726,668	-$2,079,198 -$229,067	$3,418,403
19	$6,013,018	-$2,185,147 -$240,521	$3,587,350
20	$6,313,644	-$2,296,379 -$252,546	$3,764,719
21	$6,629,376	-$2,413,200 -$265,175	$3,951,001
22	$6,960,878	-$2,535,855 -$278,435	$4,146,588
23	$7,308,814	-$2,664,592 -$292,353	$4,351,869
24	$7,674,346	-$2,799,838 -$306,974	$4,567,534
25	$8,057,972	-$2,941,780 -$322,319	$4,793,873
26	$8,461,020	-$3,090,908 -$338,441	$5,031,671
27	$8,883,988	-$3,247,406 -$355,360	$5,281,222
28	$9,328,204	-$3,411,766 -$373,128	$5,543,310
29	$9,794,664	-$3,584,356 -$391,787	$5,818,521
30	$10,284,364	-$3,765,545 -$411,375	$6,107,444