USA Mega

South Carolina Mega Millions Jackpot Annuity Payout Schedule for Mar 22, 2002

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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 $56,000,000 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, Mar 22, 2002
Jackpot:$56,000,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$842,880$270,053$53,944$518,883
2$885,024$285,647$56,642$542,736
3$929,276$302,020$59,474$567,782
4$975,739$319,211$62,447$594,081
5$1,024,526$337,262$65,570$621,694
6$1,075,753$356,216$68,848$650,688
7$1,129,540$376,118$72,291$681,132
8$1,186,017$397,014$75,905$713,098
9$1,245,318$418,955$79,700$746,662
10$1,307,584$441,994$83,685$781,905
11$1,372,963$466,184$87,870$818,909
12$1,441,611$491,584$92,263$857,764
13$1,513,692$518,254$96,876$898,562
14$1,589,377$546,257$101,720$941,399
15$1,668,845$575,661$106,806$986,379
16$1,752,288$606,534$112,146$1,033,607
17$1,839,902$638,952$117,754$1,083,197
18$1,931,897$672,990$123,641$1,135,266
19$2,028,492$708,730$129,823$1,189,939
20$2,129,917$746,257$136,315$1,247,345
21$2,236,413$785,660$143,130$1,307,622
22$2,348,233$827,034$150,287$1,370,912
23$2,465,645$870,476$157,801$1,437,367
24$2,588,927$916,091$165,691$1,507,145
25$2,718,373$963,986$173,976$1,580,412
26$2,854,292$1,014,276$182,675$1,657,342
27$2,997,007$1,067,080$191,808$1,738,118
28$3,146,857$1,122,525$201,399$1,822,933
29$3,304,200$1,180,742$211,469$1,911,989
30$3,469,410$1,241,869$222,042$2,005,498
Total$56,000,000$19,465,632$3,583,998$32,950,366

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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.