USA Mega

South Carolina Mega Millions Jackpot Annuity Payout Schedule for May 29, 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 $336,000,000 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, May 29, 2020
Jackpot:$336,000,000
Federal Tax:37% marginal rate
State Tax: 7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,057,282$1,835,267$354,010$2,868,006
2$5,310,146$1,928,826$371,710$3,009,610
3$5,575,654$2,027,064$390,296$3,158,294
4$5,854,436$2,130,214$409,811$3,314,412
5$6,147,158$2,238,521$430,301$3,478,336
6$6,454,516$2,352,243$451,816$3,650,457
7$6,777,242$2,471,652$474,407$3,831,183
8$7,116,104$2,597,031$498,127$4,020,946
9$7,471,909$2,728,679$523,034$4,220,197
10$7,845,505$2,866,909$549,185$4,429,410
11$8,237,780$3,012,051$576,645$4,649,084
12$8,649,669$3,164,450$605,477$4,879,742
13$9,082,152$3,324,469$635,751$5,121,933
14$9,536,260$3,492,488$667,538$5,376,233
15$10,013,073$3,668,909$700,915$5,643,249
16$10,513,727$3,854,151$735,961$5,923,615
17$11,039,413$4,048,655$772,759$6,217,999
18$11,591,383$4,252,884$811,397$6,527,102
19$12,170,953$4,467,325$851,967$6,851,661
20$12,779,500$4,692,487$894,565$7,192,448
21$13,418,475$4,928,908$939,293$7,550,274
22$14,089,399$5,177,150$986,258$7,925,991
23$14,793,869$5,437,804$1,035,571$8,320,494
24$15,533,562$5,711,490$1,087,349$8,734,723
25$16,310,240$5,998,861$1,141,717$9,169,662
26$17,125,753$6,300,601$1,198,803$9,626,349
27$17,982,040$6,617,427$1,258,743$10,105,870
28$18,881,142$6,950,095$1,321,680$10,609,367
29$19,825,199$7,299,396$1,387,764$11,138,039
30$20,816,459$7,666,162$1,457,152$11,693,145
Total$336,000,001$123,242,169$23,520,002$189,237,831

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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.