The jackpot for the MEGA Millions draw on Tue Jan 20, 2026, is projected to be $250 Million, with an option for a cash payout of $113.5 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 Jan 20, 2026 |
|---|
| Draw Date | Tue Jan 20, 2026 | | Projected Jackpot | $250,000,000 | | Cash Value | $113,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $113,500,000 | | Federal Tax(24%) | $27,240,000 | | Additional Federal Tax | $14,715,330 | | State Tax(4%) | $4,540,000 | | Net Lumpsum Payment | $67,004,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,762,750 |
$1,352,548
$150,510 |
$2,259,692 |
| 2 |
$3,951,000 |
$1,422,200
$158,040 |
$2,370,760 |
| 3 |
$4,148,500 |
$1,495,275
$165,940 |
$2,487,285 |
| 4 |
$4,356,000 |
$1,572,050
$174,240 |
$2,609,710 |
| 5 |
$4,573,750 |
$1,652,618
$182,950 |
$2,738,182 |
| 6 |
$4,802,500 |
$1,737,255
$192,100 |
$2,873,145 |
| 7 |
$5,042,500 |
$1,826,055
$201,700 |
$3,014,745 |
| 8 |
$5,294,750 |
$1,919,388
$211,790 |
$3,163,572 |
| 9 |
$5,559,500 |
$2,017,345
$222,380 |
$3,319,775 |
| 10 |
$5,837,500 |
$2,120,205
$233,500 |
$3,483,795 |
| 11 |
$6,129,250 |
$2,228,153
$245,170 |
$3,655,927 |
| 12 |
$6,435,750 |
$2,341,558
$257,430 |
$3,836,762 |
| 13 |
$6,757,500 |
$2,460,605
$270,300 |
$4,026,595 |
| 14 |
$7,095,500 |
$2,585,665
$283,820 |
$4,226,015 |
| 15 |
$7,450,250 |
$2,716,923
$298,010 |
$4,435,317 |
| 16 |
$7,822,750 |
$2,854,748
$312,910 |
$4,655,092 |
| 17 |
$8,213,750 |
$2,999,418
$328,550 |
$4,885,782 |
| 18 |
$8,624,500 |
$3,151,395
$344,980 |
$5,128,125 |
| 19 |
$9,055,750 |
$3,310,958
$362,230 |
$5,382,562 |
| 20 |
$9,508,500 |
$3,478,475
$380,340 |
$5,649,685 |
| 21 |
$9,984,000 |
$3,654,410
$399,360 |
$5,930,230 |
| 22 |
$10,483,250 |
$3,839,133
$419,330 |
$6,224,787 |
| 23 |
$11,007,250 |
$4,033,013
$440,290 |
$6,533,947 |
| 24 |
$11,557,750 |
$4,236,698
$462,310 |
$6,858,742 |
| 25 |
$12,135,500 |
$4,450,465
$485,420 |
$7,199,615 |
| 26 |
$12,742,500 |
$4,675,055
$509,700 |
$7,557,745 |
| 27 |
$13,379,500 |
$4,910,745
$535,180 |
$7,933,575 |
| 28 |
$14,048,500 |
$5,158,275
$561,940 |
$8,328,285 |
| 29 |
$14,751,000 |
$5,418,200
$590,040 |
$8,742,760 |
| 30 |
$15,488,500 |
$5,691,075
$619,540 |
$9,177,885 |
|
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