USA Mega

South Carolina Mega Millions Jackpot Annuity Payout Schedule for Nov 20, 2020

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The tax information provided here is based on 2021 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 $188,000,000 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:Fri, Nov 20, 2020
Jackpot:$188,000,000
Federal Tax:37% marginal rate
State Tax: 7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,829,670$1,011,050$198,077$1,620,543
2$2,971,153$1,063,399$207,981$1,699,774
3$3,119,711$1,118,365$218,380$1,782,966
4$3,275,697$1,176,080$229,299$1,870,318
5$3,439,481$1,236,680$240,764$1,962,037
6$3,611,455$1,300,311$252,802$2,058,343
7$3,792,028$1,367,123$265,442$2,159,464
8$3,981,630$1,437,275$278,714$2,265,640
9$4,180,711$1,510,935$292,650$2,377,126
10$4,389,747$1,588,278$307,282$2,494,186
11$4,609,234$1,669,489$322,646$2,617,099
12$4,839,696$1,754,760$338,779$2,746,157
13$5,081,680$1,844,294$355,718$2,881,669
14$5,335,764$1,938,305$373,504$3,023,956
15$5,602,553$2,037,017$392,179$3,173,357
16$5,882,680$2,140,664$411,788$3,330,229
17$6,176,814$2,249,494$432,377$3,494,944
18$6,485,655$2,363,765$453,996$3,667,895
19$6,809,938$2,483,749$476,696$3,849,493
20$7,150,435$2,609,733$500,530$4,040,171
21$7,507,956$2,742,016$525,557$4,240,383
22$7,883,354$2,880,913$551,835$4,450,606
23$8,277,522$3,026,755$579,427$4,671,340
24$8,691,398$3,179,889$608,398$4,903,111
25$9,125,968$3,340,680$638,818$5,146,470
26$9,582,266$3,509,511$670,759$5,401,997
27$10,061,380$3,686,783$704,297$5,670,300
28$10,564,449$3,872,918$739,511$5,952,019
29$11,092,671$4,068,361$776,487$6,247,823
30$11,647,305$4,273,575$815,311$6,558,418
Total$188,000,000$68,482,167$13,160,004$106,357,834

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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.