Virginia Lottery

VALottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jun 27, 2025 is estimated to be $348 Million, with a cash option of 155.5 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 27, 2025

Draw Date	Jackpot	Cash Option
Fri Jun 27, 2025	$348,000,000	$155,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$155,500,000
Federal Tax(24%)	$37,320,000
Additional Federal Tax	$20,175,330
State Tax(4%)	$6,220,000
Net Lumpsum Payment	$91,784,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,237,748	-$1,898,297 -$209,510	$3,129,941
2	$5,499,792	-$1,995,253 -$219,992	$3,284,547
3	$5,774,712	-$2,096,974 -$230,988	$3,446,750
4	$6,063,552	-$2,203,845 -$242,542	$3,617,165
5	$6,366,660	-$2,315,995 -$254,666	$3,795,999
6	$6,685,080	-$2,433,810 -$267,403	$3,983,867
7	$7,019,160	-$2,557,420 -$280,766	$4,180,974
8	$7,370,292	-$2,687,338 -$294,812	$4,388,142
9	$7,738,824	-$2,823,695 -$309,553	$4,605,576
10	$8,125,800	-$2,966,876 -$325,032	$4,833,892
11	$8,531,916	-$3,117,139 -$341,277	$5,073,500
12	$8,958,564	-$3,274,999 -$358,343	$5,325,222
13	$9,406,440	-$3,440,713 -$376,258	$5,589,469
14	$9,876,936	-$3,614,797 -$395,077	$5,867,062
15	$10,370,748	-$3,797,507 -$414,830	$6,158,411
16	$10,889,268	-$3,989,360 -$435,571	$6,464,337
17	$11,433,540	-$4,190,740 -$457,342	$6,785,458
18	$12,005,304	-$4,402,293 -$480,212	$7,122,799
19	$12,605,604	-$4,624,404 -$504,224	$7,476,976
20	$13,235,832	-$4,857,588 -$529,433	$7,848,811
21	$13,897,728	-$5,102,490 -$555,909	$8,239,329
22	$14,592,684	-$5,359,623 -$583,707	$8,649,354
23	$15,322,092	-$5,629,504 -$612,884	$9,079,704
24	$16,088,388	-$5,913,034 -$643,536	$9,531,818
25	$16,892,616	-$6,210,598 -$675,705	$10,006,313
26	$17,737,560	-$6,523,228 -$709,502	$10,504,830
27	$18,624,264	-$6,851,308 -$744,971	$11,027,985
28	$19,555,512	-$7,195,870 -$782,220	$11,577,422
29	$20,533,392	-$7,557,685 -$821,336	$12,154,371
30	$21,559,992	-$7,937,527 -$862,400	$12,760,065