USA Mega

South Carolina Mega Millions Jackpot Annuity Payout Schedule for Jan 19, 1999

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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 $30,000,000 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, Jan 19, 1999
Jackpot:$30,000,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$451,543$128,415$28,899$294,229
2$474,120$136,317$30,344$307,460
3$497,826$144,614$31,861$321,351
4$522,718$153,326$33,454$335,938
5$548,853$162,473$35,127$351,253
6$576,296$172,078$36,883$367,335
7$605,111$182,164$38,727$384,220
8$635,366$193,273$40,663$401,430
9$667,135$205,028$42,697$419,411
10$700,491$217,370$44,831$438,290
11$735,516$230,329$47,073$458,114
12$772,292$243,936$49,427$478,929
13$810,906$258,223$51,898$500,785
14$851,452$273,225$54,493$523,734
15$894,024$288,977$57,218$547,830
16$938,726$305,516$60,078$573,131
17$985,662$322,883$63,082$599,697
18$1,034,945$341,117$66,236$627,591
19$1,086,692$360,264$69,548$656,880
20$1,141,027$380,368$73,026$687,633
21$1,198,078$401,477$76,677$719,924
22$1,257,982$423,641$80,511$753,830
23$1,320,881$446,914$84,536$789,431
24$1,386,925$471,350$88,763$826,812
25$1,456,271$497,008$93,201$866,062
26$1,529,085$523,949$97,861$907,274
27$1,605,539$552,237$102,755$950,547
28$1,685,816$581,940$107,892$995,984
29$1,770,107$613,127$113,287$1,043,693
30$1,858,612$645,874$118,951$1,093,787
Total$30,000,000$9,857,413$1,919,999$18,222,585

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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.