The jackpot for the MEGA Millions draw on Fri Oct 31, 2025, is projected to be $754 Million, with an option for a cash payout of $352.8 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 those living in Tennessee, the bright side is you won't have to pay any state taxes on your lottery prize.
| Tennessee MEGA Millions Jackpot/Cash Option for Fri Oct 31, 2025 |
|---|
| Draw Date | Fri Oct 31, 2025 | | Projected Jackpot | $754,000,000 | | Cash Value | $352,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $352,800,000 | | Federal Tax(24%) | $84,672,000 | | Additional Federal Tax | $45,824,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $222,303,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$11,348,454 |
$4,159,258
$0 |
$7,189,196 |
| 2 |
$11,916,216 |
$4,369,330
$0 |
$7,546,886 |
| 3 |
$12,511,876 |
$4,589,725
$0 |
$7,922,151 |
| 4 |
$13,137,696 |
$4,821,278
$0 |
$8,316,418 |
| 5 |
$13,794,430 |
$5,064,269
$0 |
$8,730,161 |
| 6 |
$14,484,340 |
$5,319,536
$0 |
$9,164,804 |
| 7 |
$15,208,180 |
$5,587,357
$0 |
$9,620,823 |
| 8 |
$15,968,966 |
$5,868,848
$0 |
$10,100,118 |
| 9 |
$16,767,452 |
$6,164,288
$0 |
$10,603,164 |
| 10 |
$17,605,900 |
$6,474,513
$0 |
$11,131,387 |
| 11 |
$18,485,818 |
$6,800,083
$0 |
$11,685,735 |
| 12 |
$19,410,222 |
$7,142,113
$0 |
$12,268,109 |
| 13 |
$20,380,620 |
$7,501,160
$0 |
$12,879,460 |
| 14 |
$21,400,028 |
$7,878,341
$0 |
$13,521,687 |
| 15 |
$22,469,954 |
$8,274,213
$0 |
$14,195,741 |
| 16 |
$23,593,414 |
$8,689,894
$0 |
$14,903,520 |
| 17 |
$24,772,670 |
$9,126,218
$0 |
$15,646,452 |
| 18 |
$26,011,492 |
$9,584,582
$0 |
$16,426,910 |
| 19 |
$27,312,142 |
$10,065,823
$0 |
$17,246,319 |
| 20 |
$28,677,636 |
$10,571,056
$0 |
$18,106,580 |
| 21 |
$30,111,744 |
$11,101,676
$0 |
$19,010,068 |
| 22 |
$31,617,482 |
$11,658,799
$0 |
$19,958,683 |
| 23 |
$33,197,866 |
$12,243,541
$0 |
$20,954,325 |
| 24 |
$34,858,174 |
$12,857,855
$0 |
$22,000,319 |
| 25 |
$36,600,668 |
$13,502,578
$0 |
$23,098,090 |
| 26 |
$38,431,380 |
$14,179,941
$0 |
$24,251,439 |
| 27 |
$40,352,572 |
$14,890,782
$0 |
$25,461,790 |
| 28 |
$42,370,276 |
$15,637,333
$0 |
$26,732,943 |
| 29 |
$44,489,016 |
$16,421,266
$0 |
$28,067,750 |
| 30 |
$46,713,316 |
$17,244,257
$0 |
$29,469,059 |
|
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