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South Carolina Mega Millions Jackpot Annuity Payout Schedule for Nov 4, 2014

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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 $321,000,000 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, Nov 4, 2014
Jackpot:$321,000,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,831,511$1,745,847$309,217$2,776,447
2$5,073,086$1,835,230$324,678$2,913,179
3$5,326,740$1,929,082$340,911$3,056,747
4$5,593,078$2,027,626$357,957$3,207,494
5$5,872,731$2,131,098$375,855$3,365,778
6$6,166,368$2,239,744$394,648$3,531,977
7$6,474,687$2,353,822$414,380$3,706,485
8$6,798,421$2,473,603$435,099$3,889,718
9$7,138,342$2,599,374$456,854$4,082,114
10$7,495,259$2,731,434$479,697$4,284,129
11$7,870,022$2,870,096$503,681$4,496,245
12$8,263,523$3,015,691$528,865$4,718,966
13$8,676,699$3,168,566$555,309$4,952,824
14$9,110,534$3,329,085$583,074$5,198,375
15$9,566,061$3,497,630$612,228$5,456,203
16$10,044,364$3,674,602$642,839$5,726,922
17$10,546,582$3,860,423$674,981$6,011,178
18$11,073,911$4,055,535$708,730$6,309,646
19$11,627,606$4,260,402$744,167$6,623,037
20$12,208,987$4,475,513$781,375$6,952,099
21$12,819,436$4,701,379$820,444$7,297,613
22$13,460,408$4,938,539$861,466$7,660,403
23$14,133,428$5,187,556$904,539$8,041,333
24$14,840,100$5,449,025$949,766$8,441,309
25$15,582,105$5,723,566$997,255$8,861,283
26$16,361,210$6,011,836$1,047,117$9,302,257
27$17,179,271$6,314,518$1,099,473$9,765,279
28$18,038,234$6,632,334$1,154,447$10,251,453
29$18,940,146$6,966,042$1,212,169$10,761,935
30$19,887,153$7,316,434$1,272,778$11,297,941
Total$321,000,001$117,515,632$20,543,999$182,940,369

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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.