USA Mega

South Carolina Mega Millions Jackpot Annuity Payout Schedule for Dec 6, 1996

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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 $9,000,000 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, Dec 6, 1996
Jackpot:$9,000,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$135,463$25,554$8,670$101,240
2$142,236$27,179$9,103$105,954
3$149,348$28,886$9,558$110,904
4$156,815$30,678$10,036$116,101
5$164,656$32,560$10,538$121,558
6$172,889$34,536$11,065$127,288
7$181,533$36,610$11,618$133,305
8$190,610$38,789$12,199$139,622
9$200,140$41,731$12,809$145,600
10$210,147$44,934$13,449$151,764
11$220,655$48,296$14,122$158,237
12$231,688$51,827$14,828$165,033
13$243,272$55,534$15,569$172,169
14$255,436$59,777$16,348$179,310
15$268,207$64,247$17,165$186,795
16$281,618$68,941$18,024$194,653
17$295,699$73,869$18,925$202,905
18$310,483$79,044$19,871$211,569
19$326,008$84,477$20,864$220,666
20$342,308$90,183$21,908$230,218
21$359,423$96,173$23,003$240,247
22$377,395$102,463$24,153$250,778
23$396,264$109,067$25,361$261,836
24$416,078$116,002$26,629$273,447
25$436,881$123,283$27,960$285,638
26$458,726$130,929$29,358$298,438
27$481,662$138,956$30,826$311,879
28$505,745$147,385$32,368$325,992
29$531,032$156,236$33,986$340,810
30$557,584$165,529$35,685$356,369
Total$9,000,000$2,303,675$575,998$6,120,325

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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.