Virginia Lottery

VALottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jun 6, 2025 is estimated to be $223 Million, with a cash option of 99.4 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 Jun 6, 2025

Draw Date	Jackpot	Cash Option
Fri Jun 6, 2025	$223,000,000	$99,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$99,400,000
Federal Tax(24%)	$23,856,000
Additional Federal Tax	$12,882,330
State Tax(4%)	$3,976,000
Net Lumpsum Payment	$58,685,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,356,373	-$1,202,188 -$134,255	$2,019,930
2	$3,524,292	-$1,264,318 -$140,972	$2,119,002
3	$3,700,462	-$1,329,501 -$148,018	$2,222,943
4	$3,885,552	-$1,397,985 -$155,422	$2,332,145
5	$4,079,785	-$1,469,851 -$163,191	$2,446,743
6	$4,283,830	-$1,545,347 -$171,353	$2,567,130
7	$4,497,910	-$1,624,557 -$179,916	$2,693,437
8	$4,722,917	-$1,707,810 -$188,917	$2,826,190
9	$4,959,074	-$1,795,188 -$198,363	$2,965,523
10	$5,207,050	-$1,886,939 -$208,282	$3,111,829
11	$5,467,291	-$1,983,228 -$218,692	$3,265,371
12	$5,740,689	-$2,084,385 -$229,628	$3,426,676
13	$6,027,690	-$2,190,576 -$241,108	$3,596,006
14	$6,329,186	-$2,302,129 -$253,167	$3,773,890
15	$6,645,623	-$2,419,211 -$265,825	$3,960,587
16	$6,977,893	-$2,542,151 -$279,116	$4,156,626
17	$7,326,665	-$2,671,196 -$293,067	$4,362,402
18	$7,693,054	-$2,806,760 -$307,722	$4,578,572
19	$8,077,729	-$2,949,090 -$323,109	$4,805,530
20	$8,481,582	-$3,098,516 -$339,263	$5,043,803
21	$8,905,728	-$3,255,450 -$356,229	$5,294,049
22	$9,351,059	-$3,420,222 -$374,042	$5,556,795
23	$9,818,467	-$3,593,163 -$392,739	$5,832,565
24	$10,309,513	-$3,774,850 -$412,381	$6,122,282
25	$10,824,866	-$3,965,531 -$432,995	$6,426,340
26	$11,366,310	-$4,165,865 -$454,652	$6,745,793
27	$11,934,514	-$4,376,101 -$477,381	$7,081,032
28	$12,531,262	-$4,596,897 -$501,250	$7,433,115
29	$13,157,892	-$4,828,750 -$526,316	$7,802,826
30	$13,815,742	-$5,072,155 -$552,630	$8,190,957