The jackpot for the MEGA Millions draw on Tue Apr 29, 2025, is projected to be $70 Million, with an option for a cash payout of $31.8 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 Apr 29, 2025 |
|---|
| Draw Date | Tue Apr 29, 2025 | | Projected Jackpot | $70,000,000 | | Cash Value | $31,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $31,800,000 | | Federal Tax(24%) | $7,632,000 | | Additional Federal Tax | $4,094,330 | | State Tax(4%) | $1,272,000 | | Net Lumpsum Payment | $18,801,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,053,570 |
$350,151
$42,143 |
$661,276 |
| 2 |
$1,106,280 |
$369,654
$44,251 |
$692,375 |
| 3 |
$1,161,580 |
$390,115
$46,463 |
$725,002 |
| 4 |
$1,219,680 |
$411,612
$48,787 |
$759,281 |
| 5 |
$1,280,650 |
$434,171
$51,226 |
$795,253 |
| 6 |
$1,344,700 |
$457,869
$53,788 |
$833,043 |
| 7 |
$1,411,900 |
$482,733
$56,476 |
$872,691 |
| 8 |
$1,482,530 |
$508,866
$59,301 |
$914,363 |
| 9 |
$1,556,660 |
$536,295
$62,266 |
$958,099 |
| 10 |
$1,634,500 |
$565,095
$65,380 |
$1,004,025 |
| 11 |
$1,716,190 |
$595,321
$68,648 |
$1,052,221 |
| 12 |
$1,802,010 |
$627,074
$72,080 |
$1,102,856 |
| 13 |
$1,892,100 |
$660,407
$75,684 |
$1,156,009 |
| 14 |
$1,986,740 |
$695,424
$79,470 |
$1,211,846 |
| 15 |
$2,086,070 |
$732,176
$83,443 |
$1,270,451 |
| 16 |
$2,190,370 |
$770,767
$87,615 |
$1,331,988 |
| 17 |
$2,299,850 |
$811,275
$91,994 |
$1,396,581 |
| 18 |
$2,414,860 |
$853,829
$96,594 |
$1,464,437 |
| 19 |
$2,535,610 |
$898,506
$101,424 |
$1,535,680 |
| 20 |
$2,662,380 |
$945,411
$106,495 |
$1,610,474 |
| 21 |
$2,795,520 |
$994,673
$111,821 |
$1,689,026 |
| 22 |
$2,935,310 |
$1,046,395
$117,412 |
$1,771,503 |
| 23 |
$3,082,030 |
$1,100,681
$123,281 |
$1,858,068 |
| 24 |
$3,236,170 |
$1,157,713
$129,447 |
$1,949,010 |
| 25 |
$3,397,940 |
$1,217,568
$135,918 |
$2,044,454 |
| 26 |
$3,567,900 |
$1,280,453
$142,716 |
$2,144,731 |
| 27 |
$3,746,260 |
$1,346,447
$149,850 |
$2,249,963 |
| 28 |
$3,933,580 |
$1,415,755
$157,343 |
$2,360,482 |
| 29 |
$4,130,280 |
$1,488,534
$165,211 |
$2,476,535 |
| 30 |
$4,336,780 |
$1,564,939
$173,471 |
$2,598,370 |
|
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