USA Mega

South Carolina Mega Millions Jackpot Annuity Payout Schedule for Feb 17, 1998

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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 $17,000,000 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:Tue, Feb 17, 1998
Jackpot:$17,000,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$255,874$59,931$16,376$179,568
2$268,668$64,409$17,195$187,065
3$282,102$69,110$18,054$194,937
4$296,207$74,047$18,957$203,202
5$311,017$79,231$19,905$211,881
6$326,568$84,673$20,900$220,994
7$342,896$90,388$21,945$230,562
8$360,041$96,389$23,043$240,609
9$378,043$102,690$24,195$251,158
10$396,945$109,306$25,404$262,235
11$416,792$116,252$26,675$273,866
12$437,632$123,546$28,008$286,078
13$459,514$131,205$29,409$298,900
14$482,489$139,246$30,879$312,364
15$506,614$147,690$32,423$326,501
16$531,945$156,555$34,044$341,345
17$558,542$165,864$35,747$356,931
18$586,469$175,639$37,534$373,296
19$615,792$186,031$39,411$390,351
20$646,582$197,423$41,381$407,778
21$678,911$209,385$43,450$426,076
22$712,856$221,945$45,623$445,289
23$748,499$235,132$47,904$465,463
24$785,924$248,980$50,299$486,645
25$825,220$263,519$52,814$508,887
26$866,482$278,786$55,455$532,241
27$909,806$294,816$58,228$556,762
28$955,296$311,647$61,139$582,510
29$1,003,061$329,320$64,196$609,545
30$1,053,214$347,877$67,406$637,931
Total$17,000,000$5,111,032$1,087,999$10,800,970

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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.