The jackpot for the MEGA Millions draw on Tue Jun 3, 2025, is projected to be $202 Million, with an option for a cash payout of $90 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 Tue Jun 3, 2025 |
|---|
| Draw Date | Tue Jun 3, 2025 | | Projected Jackpot | $202,000,000 | | Cash Value | $90,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $90,000,000 | | Federal Tax(24%) | $21,600,000 | | Additional Federal Tax | $11,660,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $56,739,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,040,302 |
$1,085,242
$0 |
$1,955,060 |
| 2 |
$3,192,408 |
$1,141,521
$0 |
$2,050,887 |
| 3 |
$3,351,988 |
$1,200,566
$0 |
$2,151,422 |
| 4 |
$3,519,648 |
$1,262,600
$0 |
$2,257,048 |
| 5 |
$3,695,590 |
$1,327,699
$0 |
$2,367,891 |
| 6 |
$3,880,420 |
$1,396,086
$0 |
$2,484,334 |
| 7 |
$4,074,340 |
$1,467,836
$0 |
$2,606,504 |
| 8 |
$4,278,158 |
$1,543,249
$0 |
$2,734,909 |
| 9 |
$4,492,076 |
$1,622,399
$0 |
$2,869,677 |
| 10 |
$4,716,700 |
$1,705,509
$0 |
$3,011,191 |
| 11 |
$4,952,434 |
$1,792,731
$0 |
$3,159,703 |
| 12 |
$5,200,086 |
$1,884,362
$0 |
$3,315,724 |
| 13 |
$5,460,060 |
$1,980,553
$0 |
$3,479,507 |
| 14 |
$5,733,164 |
$2,081,601
$0 |
$3,651,563 |
| 15 |
$6,019,802 |
$2,187,657
$0 |
$3,832,145 |
| 16 |
$6,320,782 |
$2,299,020
$0 |
$4,021,762 |
| 17 |
$6,636,710 |
$2,415,913
$0 |
$4,220,797 |
| 18 |
$6,968,596 |
$2,538,711
$0 |
$4,429,885 |
| 19 |
$7,317,046 |
$2,667,637
$0 |
$4,649,409 |
| 20 |
$7,682,868 |
$2,802,992
$0 |
$4,879,876 |
| 21 |
$8,067,072 |
$2,945,147
$0 |
$5,121,925 |
| 22 |
$8,470,466 |
$3,094,403
$0 |
$5,376,063 |
| 23 |
$8,893,858 |
$3,251,058
$0 |
$5,642,800 |
| 24 |
$9,338,662 |
$3,415,635
$0 |
$5,923,027 |
| 25 |
$9,805,484 |
$3,588,359
$0 |
$6,217,125 |
| 26 |
$10,295,940 |
$3,769,828
$0 |
$6,526,112 |
| 27 |
$10,810,636 |
$3,960,266
$0 |
$6,850,370 |
| 28 |
$11,351,188 |
$4,160,270
$0 |
$7,190,918 |
| 29 |
$11,918,808 |
$4,370,289
$0 |
$7,548,519 |
| 30 |
$12,514,708 |
$4,590,772
$0 |
$7,923,936 |
|
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