The jackpot for the MEGA Millions draw on Fri Jun 12, 2026, is projected to be $413 Million, with an option for a cash payout of $182.6 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 Jun 12, 2026 |
|---|
| Draw Date | Fri Jun 12, 2026 | | Projected Jackpot | $413,000,000 | | Cash Value | $182,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $182,600,000 | | Federal Tax(24%) | $43,824,000 | | Additional Federal Tax | $23,698,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $115,077,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,216,063 |
$2,260,274
$0 |
$3,955,789 |
| 2 |
$6,527,052 |
$2,375,340
$0 |
$4,151,712 |
| 3 |
$6,853,322 |
$2,496,060
$0 |
$4,357,262 |
| 4 |
$7,196,112 |
$2,622,892
$0 |
$4,573,220 |
| 5 |
$7,555,835 |
$2,755,989
$0 |
$4,799,846 |
| 6 |
$7,933,730 |
$2,895,810
$0 |
$5,037,920 |
| 7 |
$8,330,210 |
$3,042,508
$0 |
$5,287,702 |
| 8 |
$8,746,927 |
$3,196,693
$0 |
$5,550,234 |
| 9 |
$9,184,294 |
$3,358,519
$0 |
$5,825,775 |
| 10 |
$9,643,550 |
$3,528,444
$0 |
$6,115,106 |
| 11 |
$10,125,521 |
$3,706,773
$0 |
$6,418,748 |
| 12 |
$10,631,859 |
$3,894,118
$0 |
$6,737,741 |
| 13 |
$11,163,390 |
$4,090,785
$0 |
$7,072,605 |
| 14 |
$11,721,766 |
$4,297,384
$0 |
$7,424,382 |
| 15 |
$12,307,813 |
$4,514,221
$0 |
$7,793,592 |
| 16 |
$12,923,183 |
$4,741,908
$0 |
$8,181,275 |
| 17 |
$13,569,115 |
$4,980,903
$0 |
$8,588,212 |
| 18 |
$14,247,674 |
$5,231,970
$0 |
$9,015,704 |
| 19 |
$14,960,099 |
$5,495,567
$0 |
$9,464,532 |
| 20 |
$15,708,042 |
$5,772,306
$0 |
$9,935,736 |
| 21 |
$16,493,568 |
$6,062,951
$0 |
$10,430,617 |
| 22 |
$17,318,329 |
$6,368,112
$0 |
$10,950,217 |
| 23 |
$18,183,977 |
$6,688,402
$0 |
$11,495,575 |
| 24 |
$19,093,403 |
$7,024,889
$0 |
$12,068,514 |
| 25 |
$20,047,846 |
$7,378,033
$0 |
$12,669,813 |
| 26 |
$21,050,610 |
$7,749,056
$0 |
$13,301,554 |
| 27 |
$22,102,934 |
$8,138,416
$0 |
$13,964,518 |
| 28 |
$23,208,122 |
$8,547,336
$0 |
$14,660,786 |
| 29 |
$24,368,652 |
$8,976,732
$0 |
$15,391,920 |
| 30 |
$25,587,002 |
$9,427,521
$0 |
$16,159,481 |
|
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