Virginia Lottery

VALottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Apr 25, 2025 is estimated to be $60 Million, with a cash option of 26.9 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 Apr 25, 2025

Draw Date	Jackpot	Cash Option
Fri Apr 25, 2025	$60,000,000	$26,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$26,900,000
Federal Tax(24%)	$6,456,000
Additional Federal Tax	$3,457,330
State Tax(4%)	$1,076,000
Net Lumpsum Payment	$15,910,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$903,060	-$294,463 -$36,122	$572,475
2	$948,240	-$311,179 -$37,930	$599,131
3	$995,640	-$328,717 -$39,826	$627,097
4	$1,045,440	-$347,143 -$41,818	$656,479
5	$1,097,700	-$366,479 -$43,908	$687,313
6	$1,152,600	-$386,792 -$46,104	$719,704
7	$1,210,200	-$408,104 -$48,408	$753,688
8	$1,270,740	-$430,504 -$50,830	$789,406
9	$1,334,280	-$454,014 -$53,371	$826,895
10	$1,401,000	-$478,700 -$56,040	$866,260
11	$1,471,020	-$504,608 -$58,841	$907,571
12	$1,544,580	-$531,825 -$61,783	$950,972
13	$1,621,800	-$560,396 -$64,872	$996,532
14	$1,702,920	-$590,411 -$68,117	$1,044,392
15	$1,788,060	-$621,913 -$71,522	$1,094,625
16	$1,877,460	-$654,991 -$75,098	$1,147,371
17	$1,971,300	-$689,711 -$78,852	$1,202,737
18	$2,069,880	-$726,186 -$82,795	$1,260,899
19	$2,173,380	-$764,481 -$86,935	$1,321,964
20	$2,282,040	-$804,685 -$91,282	$1,386,073
21	$2,396,160	-$846,910 -$95,846	$1,453,404
22	$2,515,980	-$891,243 -$100,639	$1,524,098
23	$2,641,740	-$937,774 -$105,670	$1,598,296
24	$2,773,860	-$986,659 -$110,954	$1,676,247
25	$2,912,520	-$1,037,963 -$116,501	$1,758,056
26	$3,058,200	-$1,091,864 -$122,328	$1,844,008
27	$3,211,080	-$1,148,430 -$128,443	$1,934,207
28	$3,371,640	-$1,207,837 -$134,866	$2,028,937
29	$3,540,240	-$1,270,219 -$141,610	$2,128,411
30	$3,717,240	-$1,335,709 -$148,690	$2,232,841