The jackpot for the MEGA Millions draw on Fri Jul 10, 2026, is projected to be $604 Million, with an option for a cash payout of $266.3 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 Jul 10, 2026 |
|---|
| Draw Date | Fri Jul 10, 2026 | | Projected Jackpot | $604,000,000 | | Cash Value | $266,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $266,300,000 | | Federal Tax(24%) | $63,912,000 | | Additional Federal Tax | $34,579,330 | | State Tax(4%) | $10,652,000 | | Net Lumpsum Payment | $157,156,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$9,090,804 |
$3,323,928
$363,632 |
$5,403,244 |
| 2 |
$9,545,616 |
$3,492,208
$381,825 |
$5,671,583 |
| 3 |
$10,022,776 |
$3,668,758
$400,911 |
$5,953,107 |
| 4 |
$10,524,096 |
$3,854,246
$420,964 |
$6,248,886 |
| 5 |
$11,050,180 |
$4,048,897
$442,007 |
$6,559,276 |
| 6 |
$11,602,840 |
$4,253,381
$464,114 |
$6,885,345 |
| 7 |
$12,182,680 |
$4,467,922
$487,307 |
$7,227,451 |
| 8 |
$12,792,116 |
$4,693,413
$511,685 |
$7,587,018 |
| 9 |
$13,431,752 |
$4,930,079
$537,270 |
$7,964,403 |
| 10 |
$14,103,400 |
$5,178,588
$564,136 |
$8,360,676 |
| 11 |
$14,808,268 |
$5,439,390
$592,331 |
$8,776,547 |
| 12 |
$15,548,772 |
$5,713,376
$621,951 |
$9,213,445 |
| 13 |
$16,326,120 |
$6,000,995
$653,045 |
$9,672,080 |
| 14 |
$17,142,728 |
$6,303,140
$685,709 |
$10,153,879 |
| 15 |
$17,999,804 |
$6,620,258
$719,992 |
$10,659,554 |
| 16 |
$18,899,764 |
$6,953,243
$755,991 |
$11,190,530 |
| 17 |
$19,844,420 |
$7,302,766
$793,777 |
$11,747,877 |
| 18 |
$20,836,792 |
$7,669,943
$833,472 |
$12,333,377 |
| 19 |
$21,878,692 |
$8,055,446
$875,148 |
$12,948,098 |
| 20 |
$22,972,536 |
$8,460,169
$918,901 |
$13,593,466 |
| 21 |
$24,121,344 |
$8,885,228
$964,854 |
$14,271,262 |
| 22 |
$25,327,532 |
$9,331,517
$1,013,101 |
$14,982,914 |
| 23 |
$26,593,516 |
$9,799,931
$1,063,741 |
$15,729,844 |
| 24 |
$27,923,524 |
$10,292,034
$1,116,941 |
$16,514,549 |
| 25 |
$29,319,368 |
$10,808,497
$1,172,775 |
$17,338,096 |
| 26 |
$30,785,880 |
$11,351,106
$1,231,435 |
$18,203,339 |
| 27 |
$32,324,872 |
$11,920,533
$1,292,995 |
$19,111,344 |
| 28 |
$33,941,176 |
$12,518,566
$1,357,647 |
$20,064,963 |
| 29 |
$35,638,416 |
$13,146,544
$1,425,537 |
$21,066,335 |
| 30 |
$37,420,216 |
$13,805,810
$1,496,809 |
$22,117,597 |
|
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