Virginia Lottery

VALottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jan 23, 2026 is estimated to be $266 Million, with a cash option of 120.8 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 Jan 23, 2026

Draw Date	Jackpot	Cash Option
Fri Jan 23, 2026	$266,000,000	$120,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$120,800,000
Federal Tax(24%)	$28,992,000
Additional Federal Tax	$15,664,330
State Tax(4%)	$4,832,000
Net Lumpsum Payment	$71,311,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,003,566	-$1,441,650 -$160,143	$2,401,773
2	$4,203,864	-$1,515,760 -$168,155	$2,519,949
3	$4,414,004	-$1,593,512 -$176,560	$2,643,932
4	$4,634,784	-$1,675,200 -$185,391	$2,774,193
5	$4,866,470	-$1,760,924 -$194,659	$2,910,887
6	$5,109,860	-$1,850,979 -$204,394	$3,054,487
7	$5,365,220	-$1,945,462 -$214,609	$3,205,149
8	$5,633,614	-$2,044,768 -$225,345	$3,363,501
9	$5,915,308	-$2,148,994 -$236,612	$3,529,702
10	$6,211,100	-$2,258,437 -$248,444	$3,704,219
11	$6,521,522	-$2,373,294 -$260,861	$3,887,367
12	$6,847,638	-$2,493,956 -$273,906	$4,079,776
13	$7,189,980	-$2,620,623 -$287,599	$4,281,758
14	$7,549,612	-$2,753,687 -$301,984	$4,493,941
15	$7,927,066	-$2,893,345 -$317,083	$4,716,638
16	$8,323,406	-$3,039,991 -$332,936	$4,950,479
17	$8,739,430	-$3,193,919 -$349,577	$5,195,934
18	$9,176,468	-$3,355,624 -$367,059	$5,453,785
19	$9,635,318	-$3,525,398 -$385,413	$5,724,507
20	$10,117,044	-$3,703,637 -$404,682	$6,008,725
21	$10,622,976	-$3,890,832 -$424,919	$6,307,225
22	$11,154,178	-$4,087,376 -$446,167	$6,620,635
23	$11,711,714	-$4,293,665 -$468,469	$6,949,580
24	$12,297,446	-$4,510,385 -$491,898	$7,295,163
25	$12,912,172	-$4,737,834 -$516,487	$7,657,851
26	$13,558,020	-$4,976,798 -$542,321	$8,038,901
27	$14,235,788	-$5,227,572 -$569,432	$8,438,784
28	$14,947,604	-$5,490,944 -$597,904	$8,858,756
29	$15,695,064	-$5,767,504 -$627,803	$9,299,757
30	$16,479,764	-$6,057,843 -$659,191	$9,762,730