The jackpot for the MEGA Millions draw on Tue Apr 22, 2025, is projected to be $50 Million, with an option for a cash payout of $22.4 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 Tue Apr 22, 2025 |
|---|
| Draw Date | Tue Apr 22, 2025 | | Projected Jackpot | $50,000,000 | | Cash Value | $22,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $22,400,000 | | Federal Tax(24%) | $5,376,000 | | Additional Federal Tax | $2,872,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $14,151,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$752,550 |
$238,774
$0 |
$513,776 |
| 2 |
$790,200 |
$252,704
$0 |
$537,496 |
| 3 |
$829,700 |
$267,319
$0 |
$562,381 |
| 4 |
$871,200 |
$282,674
$0 |
$588,526 |
| 5 |
$914,750 |
$298,788
$0 |
$615,962 |
| 6 |
$960,500 |
$315,715
$0 |
$644,785 |
| 7 |
$1,008,500 |
$333,475
$0 |
$675,025 |
| 8 |
$1,058,950 |
$352,142
$0 |
$706,808 |
| 9 |
$1,111,900 |
$371,733
$0 |
$740,167 |
| 10 |
$1,167,500 |
$392,305
$0 |
$775,195 |
| 11 |
$1,225,850 |
$413,895
$0 |
$811,955 |
| 12 |
$1,287,150 |
$436,576
$0 |
$850,574 |
| 13 |
$1,351,500 |
$460,385
$0 |
$891,115 |
| 14 |
$1,419,100 |
$485,397
$0 |
$933,703 |
| 15 |
$1,490,050 |
$511,649
$0 |
$978,401 |
| 16 |
$1,564,550 |
$539,214
$0 |
$1,025,336 |
| 17 |
$1,642,750 |
$568,148
$0 |
$1,074,602 |
| 18 |
$1,724,900 |
$598,543
$0 |
$1,126,357 |
| 19 |
$1,811,150 |
$630,456
$0 |
$1,180,694 |
| 20 |
$1,901,700 |
$663,959
$0 |
$1,237,741 |
| 21 |
$1,996,800 |
$699,146
$0 |
$1,297,654 |
| 22 |
$2,096,650 |
$736,091
$0 |
$1,360,559 |
| 23 |
$2,201,450 |
$774,867
$0 |
$1,426,583 |
| 24 |
$2,311,550 |
$815,604
$0 |
$1,495,946 |
| 25 |
$2,427,100 |
$858,357
$0 |
$1,568,743 |
| 26 |
$2,548,500 |
$903,275
$0 |
$1,645,225 |
| 27 |
$2,675,900 |
$950,413
$0 |
$1,725,487 |
| 28 |
$2,809,700 |
$999,919
$0 |
$1,809,781 |
| 29 |
$2,950,200 |
$1,051,904
$0 |
$1,898,296 |
| 30 |
$3,097,700 |
$1,106,479
$0 |
$1,991,221 |
|
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