The jackpot for the MEGA Millions draw on Tue Feb 24, 2026, is projected to be $438 Million, with an option for a cash payout of $203.1 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 Tue Feb 24, 2026 |
|---|
| Draw Date | Tue Feb 24, 2026 | | Projected Jackpot | $438,000,000 | | Cash Value | $203,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $203,100,000 | | Federal Tax(24%) | $48,744,000 | | Additional Federal Tax | $26,363,330 | | State Tax(4%) | $8,124,000 | | Net Lumpsum Payment | $119,868,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,592,338 |
$2,399,495
$263,694 |
$3,929,149 |
| 2 |
$6,922,152 |
$2,521,527
$276,886 |
$4,123,739 |
| 3 |
$7,268,172 |
$2,649,554
$290,727 |
$4,327,891 |
| 4 |
$7,631,712 |
$2,784,064
$305,268 |
$4,542,380 |
| 5 |
$8,013,210 |
$2,925,218
$320,528 |
$4,767,464 |
| 6 |
$8,413,980 |
$3,073,503
$336,559 |
$5,003,918 |
| 7 |
$8,834,460 |
$3,229,081
$353,378 |
$5,252,001 |
| 8 |
$9,276,402 |
$3,392,599
$371,056 |
$5,512,747 |
| 9 |
$9,740,244 |
$3,564,221
$389,610 |
$5,786,413 |
| 10 |
$10,227,300 |
$3,744,431
$409,092 |
$6,073,777 |
| 11 |
$10,738,446 |
$3,933,555
$429,538 |
$6,375,353 |
| 12 |
$11,275,434 |
$4,132,241
$451,017 |
$6,692,176 |
| 13 |
$11,839,140 |
$4,340,812
$473,566 |
$7,024,762 |
| 14 |
$12,431,316 |
$4,559,917
$497,253 |
$7,374,146 |
| 15 |
$13,052,838 |
$4,789,880
$522,114 |
$7,740,844 |
| 16 |
$13,705,458 |
$5,031,350
$548,218 |
$8,125,890 |
| 17 |
$14,390,490 |
$5,284,812
$575,620 |
$8,530,058 |
| 18 |
$15,110,124 |
$5,551,076
$604,405 |
$8,954,643 |
| 19 |
$15,865,674 |
$5,830,630
$634,627 |
$9,400,417 |
| 20 |
$16,658,892 |
$6,124,120
$666,356 |
$9,868,416 |
| 21 |
$17,491,968 |
$6,432,359
$699,679 |
$10,359,930 |
| 22 |
$18,366,654 |
$6,755,992
$734,666 |
$10,875,996 |
| 23 |
$19,284,702 |
$7,095,670
$771,388 |
$11,417,644 |
| 24 |
$20,249,178 |
$7,452,526
$809,967 |
$11,986,685 |
| 25 |
$21,261,396 |
$7,827,047
$850,456 |
$12,583,893 |
| 26 |
$22,324,860 |
$8,220,529
$892,994 |
$13,211,337 |
| 27 |
$23,440,884 |
$8,633,457
$937,635 |
$13,869,792 |
| 28 |
$24,612,972 |
$9,067,130
$984,519 |
$14,561,323 |
| 29 |
$25,843,752 |
$9,522,519
$1,033,750 |
$15,287,483 |
| 30 |
$27,135,852 |
$10,000,596
$1,085,434 |
$16,049,822 |
|
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