The jackpot for the MEGA Millions draw on Fri Feb 20, 2026, is projected to be $416 Million, with an option for a cash payout of $193.1 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 Fri Feb 20, 2026 |
|---|
| Draw Date | Fri Feb 20, 2026 | | Projected Jackpot | $416,000,000 | | Cash Value | $193,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $193,100,000 | | Federal Tax(24%) | $46,344,000 | | Additional Federal Tax | $25,063,330 | | State Tax(4%) | $7,724,000 | | Net Lumpsum Payment | $113,968,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,261,216 |
$2,276,980
$250,449 |
$3,733,787 |
| 2 |
$6,574,464 |
$2,392,882
$262,979 |
$3,918,603 |
| 3 |
$6,903,104 |
$2,514,479
$276,124 |
$4,112,501 |
| 4 |
$7,248,384 |
$2,642,232
$289,935 |
$4,316,217 |
| 5 |
$7,610,720 |
$2,776,297
$304,429 |
$4,529,994 |
| 6 |
$7,991,360 |
$2,917,134
$319,654 |
$4,754,572 |
| 7 |
$8,390,720 |
$3,064,897
$335,629 |
$4,990,194 |
| 8 |
$8,810,464 |
$3,220,202
$352,419 |
$5,237,843 |
| 9 |
$9,251,008 |
$3,383,203
$370,040 |
$5,497,765 |
| 10 |
$9,713,600 |
$3,554,362
$388,544 |
$5,770,694 |
| 11 |
$10,199,072 |
$3,733,987
$407,963 |
$6,057,122 |
| 12 |
$10,709,088 |
$3,922,693
$428,364 |
$6,358,031 |
| 13 |
$11,244,480 |
$4,120,788
$449,779 |
$6,673,913 |
| 14 |
$11,806,912 |
$4,328,888
$472,276 |
$7,005,748 |
| 15 |
$12,397,216 |
$4,547,300
$495,889 |
$7,354,027 |
| 16 |
$13,017,056 |
$4,776,641
$520,682 |
$7,719,733 |
| 17 |
$13,667,680 |
$5,017,372
$546,707 |
$8,103,601 |
| 18 |
$14,351,168 |
$5,270,263
$574,047 |
$8,506,858 |
| 19 |
$15,068,768 |
$5,535,775
$602,751 |
$8,930,242 |
| 20 |
$15,822,144 |
$5,814,524
$632,886 |
$9,374,734 |
| 21 |
$16,613,376 |
$6,107,280
$664,535 |
$9,841,561 |
| 22 |
$17,444,128 |
$6,414,658
$697,765 |
$10,331,705 |
| 23 |
$18,316,064 |
$6,737,274
$732,643 |
$10,846,147 |
| 24 |
$19,232,096 |
$7,076,206
$769,284 |
$11,386,606 |
| 25 |
$20,193,472 |
$7,431,915
$807,739 |
$11,953,818 |
| 26 |
$21,203,520 |
$7,805,633
$848,141 |
$12,549,746 |
| 27 |
$22,263,488 |
$8,197,821
$890,540 |
$13,175,127 |
| 28 |
$23,376,704 |
$8,609,711
$935,068 |
$13,831,925 |
| 29 |
$24,545,664 |
$9,042,226
$981,827 |
$14,521,611 |
| 30 |
$25,772,864 |
$9,496,290
$1,030,915 |
$15,245,659 |
|
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