USA Mega

South Carolina Mega Millions Jackpot Annuity Payout Schedule for Jun 26, 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 $13,000,000 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, Jun 26, 1998
Jackpot:$13,000,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$195,669$40,300$12,523$142,845
2$205,452$43,431$13,149$148,872
3$215,725$46,718$13,806$155,200
4$226,511$50,170$14,497$161,844
5$237,836$53,794$15,222$168,821
6$249,728$57,780$15,983$175,966
7$262,215$62,150$16,782$183,283
8$275,325$66,739$17,621$190,966
9$289,092$71,557$18,502$199,033
10$303,546$76,616$19,427$207,503
11$318,724$81,928$20,398$216,397
12$334,660$87,506$21,418$225,736
13$351,393$93,362$22,489$235,541
14$368,962$99,512$23,614$245,837
15$387,411$105,968$24,794$256,648
16$406,781$112,748$26,034$267,999
17$427,120$119,867$27,336$279,918
18$448,476$127,341$28,702$292,432
19$470,900$135,190$30,138$305,573
20$494,445$143,430$31,644$319,370
21$519,167$152,083$33,227$333,857
22$545,126$161,169$34,888$349,069
23$572,382$170,708$36,632$365,041
24$601,001$180,725$38,464$381,812
25$631,051$191,677$40,387$398,987
26$662,604$203,351$42,407$416,846
27$695,734$215,609$44,527$435,598
28$730,520$228,480$46,753$455,287
29$767,046$241,995$49,091$475,961
30$805,399$256,185$51,546$497,668
Total$13,000,000$3,678,089$832,001$8,489,910

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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.