The jackpot for the MEGA Millions draw on Fri Apr 4, 2025, is projected to be $43 Million, with an option for a cash payout of $20 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 Apr 4, 2025 |
|---|
| Draw Date | Fri Apr 4, 2025 | | Projected Jackpot | $43,000,000 | | Cash Value | $20,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $20,000,000 | | Federal Tax(24%) | $4,800,000 | | Additional Federal Tax | $2,560,330 | | State Tax(4%) | $800,000 | | Net Lumpsum Payment | $11,839,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$647,193 |
$199,792
$25,888 |
$421,513 |
| 2 |
$679,572 |
$211,772
$27,183 |
$440,617 |
| 3 |
$713,542 |
$224,341
$28,542 |
$460,659 |
| 4 |
$749,232 |
$237,546
$29,969 |
$481,717 |
| 5 |
$786,685 |
$251,404
$31,467 |
$503,814 |
| 6 |
$826,030 |
$265,961
$33,041 |
$527,028 |
| 7 |
$867,310 |
$281,235
$34,692 |
$551,383 |
| 8 |
$910,697 |
$297,288
$36,428 |
$576,981 |
| 9 |
$956,234 |
$314,137
$38,249 |
$603,848 |
| 10 |
$1,004,050 |
$331,829
$40,162 |
$632,059 |
| 11 |
$1,054,231 |
$350,396
$42,169 |
$661,666 |
| 12 |
$1,106,949 |
$369,902
$44,278 |
$692,769 |
| 13 |
$1,162,290 |
$390,378
$46,492 |
$725,420 |
| 14 |
$1,220,426 |
$411,888
$48,817 |
$759,721 |
| 15 |
$1,281,443 |
$434,464
$51,258 |
$795,721 |
| 16 |
$1,345,513 |
$458,170
$53,821 |
$833,522 |
| 17 |
$1,412,765 |
$483,053
$56,511 |
$873,201 |
| 18 |
$1,483,414 |
$509,194
$59,337 |
$914,883 |
| 19 |
$1,557,589 |
$536,638
$62,304 |
$958,647 |
| 20 |
$1,635,462 |
$565,451
$65,418 |
$1,004,593 |
| 21 |
$1,717,248 |
$595,712
$68,690 |
$1,052,846 |
| 22 |
$1,803,119 |
$627,484
$72,125 |
$1,103,510 |
| 23 |
$1,893,247 |
$660,832
$75,730 |
$1,156,685 |
| 24 |
$1,987,933 |
$695,866
$79,517 |
$1,212,550 |
| 25 |
$2,087,306 |
$732,634
$83,492 |
$1,271,180 |
| 26 |
$2,191,710 |
$771,263
$87,668 |
$1,332,779 |
| 27 |
$2,301,274 |
$811,802
$92,051 |
$1,397,421 |
| 28 |
$2,416,342 |
$854,377
$96,654 |
$1,465,311 |
| 29 |
$2,537,172 |
$899,084
$101,487 |
$1,536,601 |
| 30 |
$2,664,022 |
$946,019
$106,561 |
$1,611,442 |
|
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