The jackpot for the MEGA Millions draw on Fri May 22, 2026, is projected to be $296 Million, with an option for a cash payout of $128.6 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 May 22, 2026 |
|---|
| Draw Date | Fri May 22, 2026 | | Projected Jackpot | $296,000,000 | | Cash Value | $128,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $128,600,000 | | Federal Tax(24%) | $30,864,000 | | Additional Federal Tax | $16,678,330 | | State Tax(4%) | $5,144,000 | | Net Lumpsum Payment | $75,913,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,455,096 |
$1,608,716
$178,204 |
$2,668,176 |
| 2 |
$4,677,984 |
$1,691,184
$187,119 |
$2,799,681 |
| 3 |
$4,911,824 |
$1,777,705
$196,473 |
$2,937,646 |
| 4 |
$5,157,504 |
$1,868,607
$206,300 |
$3,082,597 |
| 5 |
$5,415,320 |
$1,963,999
$216,613 |
$3,234,708 |
| 6 |
$5,686,160 |
$2,064,210
$227,446 |
$3,394,504 |
| 7 |
$5,970,320 |
$2,169,349
$238,813 |
$3,562,158 |
| 8 |
$6,268,984 |
$2,279,854
$250,759 |
$3,738,371 |
| 9 |
$6,582,448 |
$2,395,836
$263,298 |
$3,923,314 |
| 10 |
$6,911,600 |
$2,517,622
$276,464 |
$4,117,514 |
| 11 |
$7,257,032 |
$2,645,432
$290,281 |
$4,321,319 |
| 12 |
$7,619,928 |
$2,779,704
$304,797 |
$4,535,427 |
| 13 |
$8,000,880 |
$2,920,656
$320,035 |
$4,760,189 |
| 14 |
$8,401,072 |
$3,068,727
$336,043 |
$4,996,302 |
| 15 |
$8,821,096 |
$3,224,136
$352,844 |
$5,244,116 |
| 16 |
$9,262,136 |
$3,387,321
$370,485 |
$5,504,330 |
| 17 |
$9,725,080 |
$3,558,610
$389,003 |
$5,777,467 |
| 18 |
$10,211,408 |
$3,738,551
$408,456 |
$6,064,401 |
| 19 |
$10,722,008 |
$3,927,473
$428,880 |
$6,365,655 |
| 20 |
$11,258,064 |
$4,125,814
$450,323 |
$6,681,927 |
| 21 |
$11,821,056 |
$4,334,121
$472,842 |
$7,014,093 |
| 22 |
$12,412,168 |
$4,552,833
$496,487 |
$7,362,848 |
| 23 |
$13,032,584 |
$4,782,386
$521,303 |
$7,728,895 |
| 24 |
$13,684,376 |
$5,023,550
$547,375 |
$8,113,451 |
| 25 |
$14,368,432 |
$5,276,650
$574,737 |
$8,517,045 |
| 26 |
$15,087,120 |
$5,542,565
$603,485 |
$8,941,070 |
| 27 |
$15,841,328 |
$5,821,622
$633,653 |
$9,386,053 |
| 28 |
$16,633,424 |
$6,114,697
$665,337 |
$9,853,390 |
| 29 |
$17,465,184 |
$6,422,448
$698,607 |
$10,344,129 |
| 30 |
$18,338,384 |
$6,745,532
$733,535 |
$10,859,317 |
|
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