The jackpot for the MEGA Millions draw on Fri Mar 6, 2026, is projected to be $496 Million, with an option for a cash payout of $232.6 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 Mar 6, 2026 |
|---|
| Draw Date | Fri Mar 6, 2026 | | Projected Jackpot | $496,000,000 | | Cash Value | $232,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $232,600,000 | | Federal Tax(24%) | $55,824,000 | | Additional Federal Tax | $30,198,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $146,577,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,465,296 |
$2,722,490
$0 |
$4,742,806 |
| 2 |
$7,838,784 |
$2,860,680
$0 |
$4,978,104 |
| 3 |
$8,230,624 |
$3,005,661
$0 |
$5,224,963 |
| 4 |
$8,642,304 |
$3,157,983
$0 |
$5,484,321 |
| 5 |
$9,074,320 |
$3,317,829
$0 |
$5,756,491 |
| 6 |
$9,528,160 |
$3,485,750
$0 |
$6,042,410 |
| 7 |
$10,004,320 |
$3,661,929
$0 |
$6,342,391 |
| 8 |
$10,504,784 |
$3,847,100
$0 |
$6,657,684 |
| 9 |
$11,030,048 |
$4,041,448
$0 |
$6,988,600 |
| 10 |
$11,581,600 |
$4,245,522
$0 |
$7,336,078 |
| 11 |
$12,160,432 |
$4,459,690
$0 |
$7,700,742 |
| 12 |
$12,768,528 |
$4,684,686
$0 |
$8,083,842 |
| 13 |
$13,406,880 |
$4,920,876
$0 |
$8,486,004 |
| 14 |
$14,077,472 |
$5,168,995
$0 |
$8,908,477 |
| 15 |
$14,781,296 |
$5,429,410
$0 |
$9,351,886 |
| 16 |
$15,520,336 |
$5,702,855
$0 |
$9,817,481 |
| 17 |
$16,296,080 |
$5,989,880
$0 |
$10,306,200 |
| 18 |
$17,111,008 |
$6,291,403
$0 |
$10,819,605 |
| 19 |
$17,966,608 |
$6,607,975
$0 |
$11,358,633 |
| 20 |
$18,864,864 |
$6,940,330
$0 |
$11,924,534 |
| 21 |
$19,808,256 |
$7,289,385
$0 |
$12,518,871 |
| 22 |
$20,798,768 |
$7,655,875
$0 |
$13,142,893 |
| 23 |
$21,838,384 |
$8,040,532
$0 |
$13,797,852 |
| 24 |
$22,930,576 |
$8,444,644
$0 |
$14,485,932 |
| 25 |
$24,076,832 |
$8,868,758
$0 |
$15,208,074 |
| 26 |
$25,281,120 |
$9,314,345
$0 |
$15,966,775 |
| 27 |
$26,544,928 |
$9,781,954
$0 |
$16,762,974 |
| 28 |
$27,872,224 |
$10,273,053
$0 |
$17,599,171 |
| 29 |
$29,265,984 |
$10,788,744
$0 |
$18,477,240 |
| 30 |
$30,729,184 |
$11,330,128
$0 |
$19,399,056 |
|
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