The jackpot for the MEGA Millions draw on Fri Feb 27, 2026, is projected to be $458 Million, with an option for a cash payout of $212.4 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 Feb 27, 2026 |
|---|
| Draw Date | Fri Feb 27, 2026 | | Projected Jackpot | $458,000,000 | | Cash Value | $212,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $212,400,000 | | Federal Tax(24%) | $50,976,000 | | Additional Federal Tax | $27,572,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $133,851,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,893,358 |
$2,510,873
$0 |
$4,382,485 |
| 2 |
$7,238,232 |
$2,638,476
$0 |
$4,599,756 |
| 3 |
$7,600,052 |
$2,772,350
$0 |
$4,827,702 |
| 4 |
$7,980,192 |
$2,913,001
$0 |
$5,067,191 |
| 5 |
$8,379,110 |
$3,060,601
$0 |
$5,318,509 |
| 6 |
$8,798,180 |
$3,215,657
$0 |
$5,582,523 |
| 7 |
$9,237,860 |
$3,378,339
$0 |
$5,859,521 |
| 8 |
$9,699,982 |
$3,549,324
$0 |
$6,150,658 |
| 9 |
$10,185,004 |
$3,728,782
$0 |
$6,456,222 |
| 10 |
$10,694,300 |
$3,917,221
$0 |
$6,777,079 |
| 11 |
$11,228,786 |
$4,114,981
$0 |
$7,113,805 |
| 12 |
$11,790,294 |
$4,322,739
$0 |
$7,467,555 |
| 13 |
$12,379,740 |
$4,540,834
$0 |
$7,838,906 |
| 14 |
$12,998,956 |
$4,769,944
$0 |
$8,229,012 |
| 15 |
$13,648,858 |
$5,010,408
$0 |
$8,638,450 |
| 16 |
$14,331,278 |
$5,262,903
$0 |
$9,068,375 |
| 17 |
$15,047,590 |
$5,527,939
$0 |
$9,519,651 |
| 18 |
$15,800,084 |
$5,806,361
$0 |
$9,993,723 |
| 19 |
$16,590,134 |
$6,098,680
$0 |
$10,491,454 |
| 20 |
$17,419,572 |
$6,405,572
$0 |
$11,014,000 |
| 21 |
$18,290,688 |
$6,727,885
$0 |
$11,562,803 |
| 22 |
$19,205,314 |
$7,066,297
$0 |
$12,139,017 |
| 23 |
$20,165,282 |
$7,421,485
$0 |
$12,743,797 |
| 24 |
$21,173,798 |
$7,794,636
$0 |
$13,379,162 |
| 25 |
$22,232,236 |
$8,186,258
$0 |
$14,045,978 |
| 26 |
$23,344,260 |
$8,597,707
$0 |
$14,746,553 |
| 27 |
$24,511,244 |
$9,029,491
$0 |
$15,481,753 |
| 28 |
$25,736,852 |
$9,482,966
$0 |
$16,253,886 |
| 29 |
$27,023,832 |
$9,959,148
$0 |
$17,064,684 |
| 30 |
$28,374,932 |
$10,459,055
$0 |
$17,915,877 |
|
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