The jackpot for the MEGA Millions draw on Fri Jun 26, 2026, is projected to be $489 Million, with an option for a cash payout of $220.9 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Virginia residents, the state will deduct 4% from your lottery earnings.
| Virginia MEGA Millions Jackpot/Cash Option for Fri Jun 26, 2026 |
|---|
| Draw Date | Fri Jun 26, 2026 | | Projected Jackpot | $489,000,000 | | Cash Value | $220,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $220,900,000 | | Federal Tax(24%) | $53,016,000 | | Additional Federal Tax | $28,677,330 | | State Tax(4%) | $8,836,000 | | Net Lumpsum Payment | $130,370,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,359,939 |
$2,683,508
$294,398 |
$4,382,033 |
| 2 |
$7,728,156 |
$2,819,748
$309,126 |
$4,599,282 |
| 3 |
$8,114,466 |
$2,962,683
$324,579 |
$4,827,204 |
| 4 |
$8,520,336 |
$3,112,855
$340,813 |
$5,066,668 |
| 5 |
$8,946,255 |
$3,270,445
$357,850 |
$5,317,960 |
| 6 |
$9,393,690 |
$3,435,996
$375,748 |
$5,581,946 |
| 7 |
$9,863,130 |
$3,609,688
$394,525 |
$5,858,917 |
| 8 |
$10,356,531 |
$3,792,247
$414,261 |
$6,150,023 |
| 9 |
$10,874,382 |
$3,983,852
$434,975 |
$6,455,555 |
| 10 |
$11,418,150 |
$4,185,046
$456,726 |
$6,776,378 |
| 11 |
$11,988,813 |
$4,396,191
$479,553 |
$7,113,069 |
| 12 |
$12,588,327 |
$4,618,011
$503,533 |
$7,466,783 |
| 13 |
$13,217,670 |
$4,850,868
$528,707 |
$7,838,095 |
| 14 |
$13,878,798 |
$5,095,486
$555,152 |
$8,228,160 |
| 15 |
$14,572,689 |
$5,352,225
$582,908 |
$8,637,556 |
| 16 |
$15,301,299 |
$5,621,811
$612,052 |
$9,067,436 |
| 17 |
$16,066,095 |
$5,904,786
$642,644 |
$9,518,665 |
| 18 |
$16,869,522 |
$6,202,054
$674,781 |
$9,992,687 |
| 19 |
$17,713,047 |
$6,514,158
$708,522 |
$10,490,367 |
| 20 |
$18,598,626 |
$6,841,822
$743,945 |
$11,012,859 |
| 21 |
$19,528,704 |
$7,185,951
$781,148 |
$11,561,605 |
| 22 |
$20,505,237 |
$7,547,268
$820,209 |
$12,137,760 |
| 23 |
$21,530,181 |
$7,926,497
$861,207 |
$12,742,477 |
| 24 |
$22,606,959 |
$8,324,905
$904,278 |
$13,377,776 |
| 25 |
$23,737,038 |
$8,743,034
$949,482 |
$14,044,522 |
| 26 |
$24,924,330 |
$9,182,332
$996,973 |
$14,745,025 |
| 27 |
$26,170,302 |
$9,643,342
$1,046,812 |
$15,480,148 |
| 28 |
$27,478,866 |
$10,127,511
$1,099,155 |
$16,252,200 |
| 29 |
$28,852,956 |
$10,635,924
$1,154,118 |
$17,062,914 |
| 30 |
$30,295,506 |
$11,169,668
$1,211,820 |
$17,914,018 |
|
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