Tennessee Lottery

TNLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jun 6, 2025 is estimated to be $223 Million, with a cash option of 99.4 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. The good news is that if you're a resident of Tennessee, you won't owe any state tax on your lottery winnings.

Please note that the calculation of the MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Tennessee MEGA Millions Jackpot/Cash Option for Fri Jun 6, 2025

Draw Date	Jackpot	Cash Option
Fri Jun 6, 2025	$223,000,000	$99,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$99,400,000
Federal Tax(24%)	$23,856,000
Additional Federal Tax	$12,882,330
State Tax(0%)	$0
Net Lumpsum Payment	$62,661,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,356,373	-$1,202,188 -$0	$2,154,185
2	$3,524,292	-$1,264,318 -$0	$2,259,974
3	$3,700,462	-$1,329,501 -$0	$2,370,961
4	$3,885,552	-$1,397,985 -$0	$2,487,567
5	$4,079,785	-$1,469,851 -$0	$2,609,934
6	$4,283,830	-$1,545,347 -$0	$2,738,483
7	$4,497,910	-$1,624,557 -$0	$2,873,353
8	$4,722,917	-$1,707,810 -$0	$3,015,107
9	$4,959,074	-$1,795,188 -$0	$3,163,886
10	$5,207,050	-$1,886,939 -$0	$3,320,111
11	$5,467,291	-$1,983,228 -$0	$3,484,063
12	$5,740,689	-$2,084,385 -$0	$3,656,304
13	$6,027,690	-$2,190,576 -$0	$3,837,114
14	$6,329,186	-$2,302,129 -$0	$4,027,057
15	$6,645,623	-$2,419,211 -$0	$4,226,412
16	$6,977,893	-$2,542,151 -$0	$4,435,742
17	$7,326,665	-$2,671,196 -$0	$4,655,469
18	$7,693,054	-$2,806,760 -$0	$4,886,294
19	$8,077,729	-$2,949,090 -$0	$5,128,639
20	$8,481,582	-$3,098,516 -$0	$5,383,066
21	$8,905,728	-$3,255,450 -$0	$5,650,278
22	$9,351,059	-$3,420,222 -$0	$5,930,837
23	$9,818,467	-$3,593,163 -$0	$6,225,304
24	$10,309,513	-$3,774,850 -$0	$6,534,663
25	$10,824,866	-$3,965,531 -$0	$6,859,335
26	$11,366,310	-$4,165,865 -$0	$7,200,445
27	$11,934,514	-$4,376,101 -$0	$7,558,413
28	$12,531,262	-$4,596,897 -$0	$7,934,365
29	$13,157,892	-$4,828,750 -$0	$8,329,142
30	$13,815,742	-$5,072,155 -$0	$8,743,587