The jackpot for the MEGA Millions draw on Tue Feb 3, 2026, is projected to be $323 Million, with an option for a cash payout of $145.7 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 3, 2026 |
|---|
| Draw Date | Tue Feb 3, 2026 | | Projected Jackpot | $323,000,000 | | Cash Value | $145,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $145,700,000 | | Federal Tax(24%) | $34,968,000 | | Additional Federal Tax | $18,901,330 | | State Tax(4%) | $5,828,000 | | Net Lumpsum Payment | $86,002,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,861,473 |
$1,759,075
$194,459 |
$2,907,939 |
| 2 |
$5,104,692 |
$1,849,066
$204,188 |
$3,051,438 |
| 3 |
$5,359,862 |
$1,943,479
$214,394 |
$3,201,989 |
| 4 |
$5,627,952 |
$2,042,673
$225,118 |
$3,360,161 |
| 5 |
$5,909,285 |
$2,146,766
$236,371 |
$3,526,148 |
| 6 |
$6,204,830 |
$2,256,117
$248,193 |
$3,700,520 |
| 7 |
$6,514,910 |
$2,370,847
$260,596 |
$3,883,467 |
| 8 |
$6,840,817 |
$2,491,433
$273,633 |
$4,075,751 |
| 9 |
$7,182,874 |
$2,617,994
$287,315 |
$4,277,565 |
| 10 |
$7,542,050 |
$2,750,889
$301,682 |
$4,489,479 |
| 11 |
$7,918,991 |
$2,890,357
$316,760 |
$4,711,874 |
| 12 |
$8,314,989 |
$3,036,876
$332,600 |
$4,945,513 |
| 13 |
$8,730,690 |
$3,190,686
$349,228 |
$5,190,776 |
| 14 |
$9,167,386 |
$3,352,263
$366,695 |
$5,448,428 |
| 15 |
$9,625,723 |
$3,521,848
$385,029 |
$5,718,846 |
| 16 |
$10,106,993 |
$3,699,918
$404,280 |
$6,002,795 |
| 17 |
$10,612,165 |
$3,886,831
$424,487 |
$6,300,847 |
| 18 |
$11,142,854 |
$4,083,186
$445,714 |
$6,613,954 |
| 19 |
$11,700,029 |
$4,289,341
$468,001 |
$6,942,687 |
| 20 |
$12,284,982 |
$4,505,774
$491,399 |
$7,287,809 |
| 21 |
$12,899,328 |
$4,733,082
$515,973 |
$7,650,273 |
| 22 |
$13,544,359 |
$4,971,743
$541,774 |
$8,030,842 |
| 23 |
$14,221,367 |
$5,222,236
$568,855 |
$8,430,276 |
| 24 |
$14,932,613 |
$5,485,397
$597,305 |
$8,849,911 |
| 25 |
$15,679,066 |
$5,761,585
$627,163 |
$9,290,318 |
| 26 |
$16,463,310 |
$6,051,755
$658,532 |
$9,753,023 |
| 27 |
$17,286,314 |
$6,356,267
$691,453 |
$10,238,594 |
| 28 |
$18,150,662 |
$6,676,075
$726,026 |
$10,748,561 |
| 29 |
$19,058,292 |
$7,011,898
$762,332 |
$11,284,062 |
| 30 |
$20,011,142 |
$7,364,453
$800,446 |
$11,846,243 |
|
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