Tennessee Lottery

TNLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Oct 27, 2026 is estimated to be $443 Million, with a cash option of 186.5 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 Tue Oct 27, 2026

Draw Date	Jackpot	Cash Option
Tue Oct 27, 2026	$443,000,000	$186,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$186,500,000
Federal Tax(24%)	$44,760,000
Additional Federal Tax	$24,205,330
State Tax(0%)	$0
Net Lumpsum Payment	$117,534,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$6,667,593	-$2,427,340 -$0	$4,240,253
2	$7,001,172	-$2,550,764 -$0	$4,450,408
3	$7,351,142	-$2,680,253 -$0	$4,670,889
4	$7,718,832	-$2,816,298 -$0	$4,902,534
5	$8,104,685	-$2,959,064 -$0	$5,145,621
6	$8,510,030	-$3,109,041 -$0	$5,400,989
7	$8,935,310	-$3,266,395 -$0	$5,668,915
8	$9,382,297	-$3,431,780 -$0	$5,950,517
9	$9,851,434	-$3,605,361 -$0	$6,246,073
10	$10,344,050	-$3,787,629 -$0	$6,556,421
11	$10,861,031	-$3,978,912 -$0	$6,882,119
12	$11,404,149	-$4,179,866 -$0	$7,224,283
13	$11,974,290	-$4,390,818 -$0	$7,583,472
14	$12,573,226	-$4,612,424 -$0	$7,960,802
15	$13,201,843	-$4,845,012 -$0	$8,356,831
16	$13,861,913	-$5,089,238 -$0	$8,772,675
17	$14,554,765	-$5,345,593 -$0	$9,209,172
18	$15,282,614	-$5,614,898 -$0	$9,667,716
19	$16,046,789	-$5,897,642 -$0	$10,149,147
20	$16,849,062	-$6,194,483 -$0	$10,654,579
21	$17,691,648	-$6,506,240 -$0	$11,185,408
22	$18,576,319	-$6,833,568 -$0	$11,742,751
23	$19,504,847	-$7,177,124 -$0	$12,327,723
24	$20,480,333	-$7,538,054 -$0	$12,942,279
25	$21,504,106	-$7,916,850 -$0	$13,587,256
26	$22,579,710	-$8,314,823 -$0	$14,264,887
27	$23,708,474	-$8,732,466 -$0	$14,976,008
28	$24,893,942	-$9,171,089 -$0	$15,722,853
29	$26,138,772	-$9,631,676 -$0	$16,507,096
30	$27,445,622	-$10,115,211 -$0	$17,330,411