Virginia Lottery

VALottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Feb 25, 2025 is estimated to be $181 Million, with a cash option of 82.7 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 Feb 25, 2025

Draw Date	Jackpot	Cash Option
Tue Feb 25, 2025	$181,000,000	$82,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$82,700,000
Federal Tax(24%)	$19,848,000
Additional Federal Tax	$10,711,330
State Tax(4%)	$3,308,000
Net Lumpsum Payment	$48,832,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,724,231	-$968,296 -$108,969	$1,646,966
2	$2,860,524	-$1,018,724 -$114,421	$1,727,379
3	$3,003,514	-$1,071,631 -$120,141	$1,811,742
4	$3,153,744	-$1,127,216 -$126,150	$1,900,378
5	$3,311,395	-$1,185,547 -$132,456	$1,993,392
6	$3,477,010	-$1,246,824 -$139,080	$2,091,106
7	$3,650,770	-$1,311,115 -$146,031	$2,193,624
8	$3,833,399	-$1,378,688 -$153,336	$2,301,375
9	$4,025,078	-$1,449,609 -$161,003	$2,414,466
10	$4,226,350	-$1,524,080 -$169,054	$2,533,216
11	$4,437,577	-$1,602,234 -$177,503	$2,657,840
12	$4,659,483	-$1,684,339 -$186,379	$2,788,765
13	$4,892,430	-$1,770,529 -$195,697	$2,926,204
14	$5,137,142	-$1,861,073 -$205,486	$3,070,583
15	$5,393,981	-$1,956,103 -$215,759	$3,222,119
16	$5,663,671	-$2,055,889 -$226,547	$3,381,235
17	$5,946,755	-$2,160,630 -$237,870	$3,548,255
18	$6,244,138	-$2,270,661 -$249,766	$3,723,711
19	$6,556,363	-$2,386,185 -$262,255	$3,907,923
20	$6,884,154	-$2,507,467 -$275,366	$4,101,321
21	$7,228,416	-$2,634,844 -$289,137	$4,304,435
22	$7,589,873	-$2,768,583 -$303,595	$4,517,695
23	$7,969,249	-$2,908,953 -$318,770	$4,741,526
24	$8,367,811	-$3,056,420 -$334,712	$4,976,679
25	$8,786,102	-$3,211,188 -$351,444	$5,223,470
26	$9,225,570	-$3,373,791 -$369,023	$5,482,756
27	$9,686,758	-$3,544,431 -$387,470	$5,754,857
28	$10,171,114	-$3,723,643 -$406,845	$6,040,626
29	$10,679,724	-$3,911,828 -$427,189	$6,340,707
30	$11,213,674	-$4,109,390 -$448,547	$6,655,737