The jackpot for the MEGA Millions draw on Tue Mar 11, 2025, is projected to be $256 Million, with an option for a cash payout of $119.5 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 Mar 11, 2025 |
|---|
| Draw Date | Tue Mar 11, 2025 | | Projected Jackpot | $256,000,000 | | Cash Value | $119,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $119,500,000 | | Federal Tax(24%) | $28,680,000 | | Additional Federal Tax | $15,495,330 | | State Tax(4%) | $4,780,000 | | Net Lumpsum Payment | $70,544,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,853,056 |
$1,385,961
$154,122 |
$2,312,973 |
| 2 |
$4,045,824 |
$1,457,285
$161,833 |
$2,426,706 |
| 3 |
$4,248,064 |
$1,532,114
$169,923 |
$2,546,027 |
| 4 |
$4,460,544 |
$1,610,732
$178,422 |
$2,671,390 |
| 5 |
$4,683,520 |
$1,693,233
$187,341 |
$2,802,946 |
| 6 |
$4,917,760 |
$1,779,902
$196,710 |
$2,941,148 |
| 7 |
$5,163,520 |
$1,870,833
$206,541 |
$3,086,146 |
| 8 |
$5,421,824 |
$1,966,405
$216,873 |
$3,238,546 |
| 9 |
$5,692,928 |
$2,066,714
$227,717 |
$3,398,497 |
| 10 |
$5,977,600 |
$2,172,042
$239,104 |
$3,566,454 |
| 11 |
$6,276,352 |
$2,282,581
$251,054 |
$3,742,717 |
| 12 |
$6,590,208 |
$2,398,707
$263,608 |
$3,927,893 |
| 13 |
$6,919,680 |
$2,520,612
$276,787 |
$4,122,281 |
| 14 |
$7,265,792 |
$2,648,673
$290,632 |
$4,326,487 |
| 15 |
$7,629,056 |
$2,783,081
$305,162 |
$4,540,813 |
| 16 |
$8,010,496 |
$2,924,214
$320,420 |
$4,765,862 |
| 17 |
$8,410,880 |
$3,072,356
$336,435 |
$5,002,089 |
| 18 |
$8,831,488 |
$3,227,981
$353,260 |
$5,250,247 |
| 19 |
$9,273,088 |
$3,391,373
$370,924 |
$5,510,791 |
| 20 |
$9,736,704 |
$3,562,911
$389,468 |
$5,784,325 |
| 21 |
$10,223,616 |
$3,743,068
$408,945 |
$6,071,603 |
| 22 |
$10,734,848 |
$3,932,224
$429,394 |
$6,373,230 |
| 23 |
$11,271,424 |
$4,130,757
$450,857 |
$6,689,810 |
| 24 |
$11,835,136 |
$4,339,331
$473,405 |
$7,022,400 |
| 25 |
$12,426,752 |
$4,558,229
$497,070 |
$7,371,453 |
| 26 |
$13,048,320 |
$4,788,209
$521,933 |
$7,738,178 |
| 27 |
$13,700,608 |
$5,029,555
$548,024 |
$8,123,029 |
| 28 |
$14,385,664 |
$5,283,026
$575,427 |
$8,527,211 |
| 29 |
$15,105,024 |
$5,549,189
$604,201 |
$8,951,634 |
| 30 |
$15,860,224 |
$5,828,613
$634,409 |
$9,397,202 |
|
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