USA Mega

South Carolina Mega Millions Jackpot Annuity Payout Schedule for Jan 8, 2013

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The tax information provided here is based on 2022 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 $47,000,000 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 prize money, as well as deductions claimed.

State:

South Carolina

Drawing Date:Tue, Jan 8, 2013
Jackpot:$47,000,000
Federal Tax:37% marginal rate
State Tax: 7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$707,417$224,699$49,519$433,199
2$742,788$237,787$51,995$453,006
3$779,928$251,528$54,595$473,805
4$818,924$265,957$57,325$495,643
5$859,870$281,107$60,191$518,572
6$902,864$297,015$63,200$542,649
7$948,007$313,718$66,360$567,929
8$995,407$331,256$69,679$594,473
9$1,045,178$349,671$73,162$622,345
10$1,097,437$369,007$76,821$651,610
11$1,152,308$389,309$80,662$682,338
12$1,209,924$410,627$84,695$714,602
13$1,270,420$433,010$88,929$748,480
14$1,333,941$456,513$93,376$784,052
15$1,400,638$481,191$98,045$821,402
16$1,470,670$507,103$102,947$860,620
17$1,544,204$534,310$108,094$901,799
18$1,621,414$562,878$113,499$945,037
19$1,702,484$592,874$119,174$990,436
20$1,787,609$624,370$125,133$1,038,106
21$1,876,989$657,441$131,389$1,088,159
22$1,970,839$692,165$137,959$1,140,715
23$2,069,380$728,626$144,857$1,195,898
24$2,172,849$766,909$152,099$1,253,841
25$2,281,492$807,107$159,704$1,314,680
26$2,395,567$849,315$167,690$1,378,562
27$2,515,345$893,633$176,074$1,445,638
28$2,641,112$940,166$184,878$1,516,068
29$2,773,168$989,027$194,122$1,590,019
30$2,911,826$1,040,331$203,828$1,667,668
Total$47,000,000$16,278,650$3,290,001$27,431,351

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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.