The jackpot for the MEGA Millions draw on Fri Jul 10, 2026, is projected to be $604 Million, with an option for a cash payout of $266.3 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 Jul 10, 2026 |
|---|
| Draw Date | Fri Jul 10, 2026 | | Projected Jackpot | $604,000,000 | | Cash Value | $266,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $266,300,000 | | Federal Tax(24%) | $63,912,000 | | Additional Federal Tax | $34,579,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $167,808,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$9,090,804 |
$3,323,928
$0 |
$5,766,876 |
| 2 |
$9,545,616 |
$3,492,208
$0 |
$6,053,408 |
| 3 |
$10,022,776 |
$3,668,758
$0 |
$6,354,018 |
| 4 |
$10,524,096 |
$3,854,246
$0 |
$6,669,850 |
| 5 |
$11,050,180 |
$4,048,897
$0 |
$7,001,283 |
| 6 |
$11,602,840 |
$4,253,381
$0 |
$7,349,459 |
| 7 |
$12,182,680 |
$4,467,922
$0 |
$7,714,758 |
| 8 |
$12,792,116 |
$4,693,413
$0 |
$8,098,703 |
| 9 |
$13,431,752 |
$4,930,079
$0 |
$8,501,673 |
| 10 |
$14,103,400 |
$5,178,588
$0 |
$8,924,812 |
| 11 |
$14,808,268 |
$5,439,390
$0 |
$9,368,878 |
| 12 |
$15,548,772 |
$5,713,376
$0 |
$9,835,396 |
| 13 |
$16,326,120 |
$6,000,995
$0 |
$10,325,125 |
| 14 |
$17,142,728 |
$6,303,140
$0 |
$10,839,588 |
| 15 |
$17,999,804 |
$6,620,258
$0 |
$11,379,546 |
| 16 |
$18,899,764 |
$6,953,243
$0 |
$11,946,521 |
| 17 |
$19,844,420 |
$7,302,766
$0 |
$12,541,654 |
| 18 |
$20,836,792 |
$7,669,943
$0 |
$13,166,849 |
| 19 |
$21,878,692 |
$8,055,446
$0 |
$13,823,246 |
| 20 |
$22,972,536 |
$8,460,169
$0 |
$14,512,367 |
| 21 |
$24,121,344 |
$8,885,228
$0 |
$15,236,116 |
| 22 |
$25,327,532 |
$9,331,517
$0 |
$15,996,015 |
| 23 |
$26,593,516 |
$9,799,931
$0 |
$16,793,585 |
| 24 |
$27,923,524 |
$10,292,034
$0 |
$17,631,490 |
| 25 |
$29,319,368 |
$10,808,497
$0 |
$18,510,871 |
| 26 |
$30,785,880 |
$11,351,106
$0 |
$19,434,774 |
| 27 |
$32,324,872 |
$11,920,533
$0 |
$20,404,339 |
| 28 |
$33,941,176 |
$12,518,566
$0 |
$21,422,610 |
| 29 |
$35,638,416 |
$13,146,544
$0 |
$22,491,872 |
| 30 |
$37,420,216 |
$13,805,810
$0 |
$23,614,406 |
|
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