Tennessee Lottery

TNLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Apr 25, 2025 is estimated to be $60 Million, with a cash option of 26.9 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 Apr 25, 2025

Draw Date	Jackpot	Cash Option
Fri Apr 25, 2025	$60,000,000	$26,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$26,900,000
Federal Tax(24%)	$6,456,000
Additional Federal Tax	$3,457,330
State Tax(0%)	$0
Net Lumpsum Payment	$16,986,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$903,060	-$294,463 -$0	$608,597
2	$948,240	-$311,179 -$0	$637,061
3	$995,640	-$328,717 -$0	$666,923
4	$1,045,440	-$347,143 -$0	$698,297
5	$1,097,700	-$366,479 -$0	$731,221
6	$1,152,600	-$386,792 -$0	$765,808
7	$1,210,200	-$408,104 -$0	$802,096
8	$1,270,740	-$430,504 -$0	$840,236
9	$1,334,280	-$454,014 -$0	$880,266
10	$1,401,000	-$478,700 -$0	$922,300
11	$1,471,020	-$504,608 -$0	$966,412
12	$1,544,580	-$531,825 -$0	$1,012,755
13	$1,621,800	-$560,396 -$0	$1,061,404
14	$1,702,920	-$590,411 -$0	$1,112,509
15	$1,788,060	-$621,913 -$0	$1,166,147
16	$1,877,460	-$654,991 -$0	$1,222,469
17	$1,971,300	-$689,711 -$0	$1,281,589
18	$2,069,880	-$726,186 -$0	$1,343,694
19	$2,173,380	-$764,481 -$0	$1,408,899
20	$2,282,040	-$804,685 -$0	$1,477,355
21	$2,396,160	-$846,910 -$0	$1,549,250
22	$2,515,980	-$891,243 -$0	$1,624,737
23	$2,641,740	-$937,774 -$0	$1,703,966
24	$2,773,860	-$986,659 -$0	$1,787,201
25	$2,912,520	-$1,037,963 -$0	$1,874,557
26	$3,058,200	-$1,091,864 -$0	$1,966,336
27	$3,211,080	-$1,148,430 -$0	$2,062,650
28	$3,371,640	-$1,207,837 -$0	$2,163,803
29	$3,540,240	-$1,270,219 -$0	$2,270,021
30	$3,717,240	-$1,335,709 -$0	$2,381,531