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South Carolina Mega Millions Jackpot Annuity Payout Schedule for Feb 23, 2024

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The tax information provided here is based on 2024 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $525,000,000 for a ticket purchased in South Carolina, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

South Carolina

Drawing Date:Fri, Feb 23, 2024
Jackpot:$525,000,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,902,003$2,881,929$505,728$4,514,346
2$8,297,104$3,028,116$531,015$4,737,973
3$8,711,959$3,181,612$557,565$4,972,781
4$9,147,557$3,342,784$585,444$5,219,329
5$9,604,934$3,512,013$614,716$5,478,205
6$10,085,181$3,689,705$645,452$5,750,025
7$10,589,441$3,876,281$677,724$6,035,436
8$11,118,913$4,072,185$711,610$6,335,117
9$11,674,858$4,277,885$747,191$6,649,782
10$12,258,601$4,493,870$784,550$6,980,180
11$12,871,531$4,720,654$823,778$7,327,099
12$13,515,108$4,958,778$864,967$7,691,363
13$14,190,863$5,208,807$908,215$8,073,841
14$14,900,406$5,471,338$953,626$8,475,442
15$15,645,426$5,746,995$1,001,307$8,897,124
16$16,427,698$6,036,436$1,051,373$9,339,889
17$17,249,082$6,340,348$1,103,941$9,804,793
18$18,111,537$6,659,456$1,159,138$10,292,942
19$19,017,113$6,994,520$1,217,095$10,805,498
20$19,967,969$7,346,336$1,277,950$11,343,683
21$20,966,367$7,715,744$1,341,848$11,908,776
22$22,014,686$8,103,622$1,408,940$12,502,124
23$23,115,420$8,510,893$1,479,387$13,125,140
24$24,271,191$8,938,528$1,553,356$13,779,306
25$25,484,751$9,387,545$1,631,024$14,466,181
26$26,758,989$9,859,014$1,712,575$15,187,400
27$28,096,938$10,354,055$1,798,204$15,944,679
28$29,501,784$10,873,848$1,888,114$16,739,822
29$30,976,874$11,419,631$1,982,520$17,574,723
30$32,525,718$11,992,703$2,081,646$18,451,368
Total$525,000,001$192,995,631$33,599,999$298,404,367

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.