The jackpot for the MEGA Millions draw on Fri Jan 2, 2026, is projected to be $157 Million, with an option for a cash payout of $72 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 Jan 2, 2026 |
|---|
| Draw Date | Fri Jan 2, 2026 | | Projected Jackpot | $157,000,000 | | Cash Value | $72,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $72,000,000 | | Federal Tax(24%) | $17,280,000 | | Additional Federal Tax | $9,320,330 | | State Tax(4%) | $2,880,000 | | Net Lumpsum Payment | $42,519,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,363,007 |
$834,643
$94,520 |
$1,433,844 |
| 2 |
$2,481,228 |
$878,385
$99,249 |
$1,503,594 |
| 3 |
$2,605,258 |
$924,276
$104,210 |
$1,576,772 |
| 4 |
$2,735,568 |
$972,491
$109,423 |
$1,653,654 |
| 5 |
$2,872,315 |
$1,023,087
$114,893 |
$1,734,335 |
| 6 |
$3,015,970 |
$1,076,239
$120,639 |
$1,819,092 |
| 7 |
$3,166,690 |
$1,132,006
$126,668 |
$1,908,016 |
| 8 |
$3,325,103 |
$1,190,618
$133,004 |
$2,001,481 |
| 9 |
$3,491,366 |
$1,252,136
$139,655 |
$2,099,575 |
| 10 |
$3,665,950 |
$1,316,732
$146,638 |
$2,202,580 |
| 11 |
$3,849,169 |
$1,384,523
$153,967 |
$2,310,679 |
| 12 |
$4,041,651 |
$1,455,741
$161,666 |
$2,424,244 |
| 13 |
$4,243,710 |
$1,530,503
$169,748 |
$2,543,459 |
| 14 |
$4,455,974 |
$1,609,041
$178,239 |
$2,668,694 |
| 15 |
$4,678,757 |
$1,691,470
$187,150 |
$2,800,137 |
| 16 |
$4,912,687 |
$1,778,025
$196,507 |
$2,938,155 |
| 17 |
$5,158,235 |
$1,868,877
$206,329 |
$3,083,029 |
| 18 |
$5,416,186 |
$1,964,319
$216,647 |
$3,235,220 |
| 19 |
$5,687,011 |
$2,064,524
$227,480 |
$3,395,007 |
| 20 |
$5,971,338 |
$2,169,725
$238,854 |
$3,562,759 |
| 21 |
$6,269,952 |
$2,280,213
$250,798 |
$3,738,941 |
| 22 |
$6,583,481 |
$2,396,218
$263,339 |
$3,923,924 |
| 23 |
$6,912,553 |
$2,517,975
$276,502 |
$4,118,076 |
| 24 |
$7,258,267 |
$2,645,889
$290,331 |
$4,322,047 |
| 25 |
$7,621,094 |
$2,780,135
$304,844 |
$4,536,115 |
| 26 |
$8,002,290 |
$2,921,178
$320,092 |
$4,761,020 |
| 27 |
$8,402,326 |
$3,069,191
$336,093 |
$4,997,042 |
| 28 |
$8,822,458 |
$3,224,640
$352,898 |
$5,244,920 |
| 29 |
$9,263,628 |
$3,387,873
$370,545 |
$5,505,210 |
| 30 |
$9,726,778 |
$3,559,238
$389,071 |
$5,778,469 |
|
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