USA Mega

South Carolina Mega Millions Jackpot Annuity Payout Schedule for Sep 8, 1998

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $12,000,000 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, Sep 8, 1998
Jackpot:$12,000,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$180,617$36,391$11,560$132,667
2$189,648$38,558$12,137$138,953
3$199,130$41,408$12,744$144,978
4$209,087$44,594$13,382$151,111
5$219,541$47,940$14,051$157,551
6$230,518$51,452$14,753$164,313
7$242,044$55,141$15,491$171,413
8$254,147$59,326$16,265$178,555
9$266,854$63,774$17,079$186,002
10$280,197$68,444$17,933$193,820
11$294,206$73,347$18,829$202,030
12$308,917$78,496$19,771$210,650
13$324,363$83,902$20,759$219,702
14$340,581$89,578$21,797$229,206
15$357,610$95,538$22,887$239,185
16$375,490$101,796$24,031$249,663
17$394,265$108,367$25,233$260,664
18$413,978$115,267$26,495$272,216
19$434,677$122,512$27,819$284,346
20$456,411$130,119$29,210$297,082
21$479,231$138,106$30,671$310,455
22$503,193$146,492$32,204$324,496
23$528,352$155,298$33,815$339,240
24$554,770$164,544$35,505$354,721
25$582,509$174,253$37,281$370,975
26$611,634$184,492$39,145$387,997
27$642,216$195,808$41,102$405,306
28$674,327$207,689$43,157$423,481
29$708,043$220,164$45,315$442,564
30$743,445$233,262$47,580$462,602
Total$12,000,000$3,326,058$768,001$7,905,944

◄ Back to Jackpot Analysis

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.