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South Carolina Mega Millions Jackpot Annuity Payout Schedule for Jan 1, 2021

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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 $401,000,000 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, Jan 1, 2021
Jackpot:$401,000,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,035,625$2,191,369$386,280$3,457,976
2$6,337,407$2,303,028$405,594$3,628,785
3$6,654,277$2,420,270$425,874$3,808,133
4$6,986,991$2,543,374$447,167$3,996,449
5$7,336,340$2,672,634$469,526$4,194,181
6$7,703,157$2,808,356$493,002$4,401,799
7$8,088,316$2,950,865$517,652$4,619,799
8$8,492,731$3,100,498$543,535$4,848,698
9$8,917,368$3,257,614$570,712$5,089,042
10$9,363,236$3,422,585$599,247$5,341,404
11$9,831,398$3,595,805$629,209$5,606,384
12$10,322,968$3,777,686$660,670$5,884,612
13$10,839,116$3,968,661$693,703$6,176,752
14$11,381,072$4,169,184$728,389$6,483,499
15$11,950,126$4,379,734$764,808$6,805,583
16$12,547,632$4,600,812$803,048$7,143,772
17$13,175,013$4,832,943$843,201$7,498,870
18$13,833,764$5,076,680$885,361$7,871,723
19$14,525,452$5,332,605$929,629$8,263,218
20$15,251,725$5,601,326$976,110$8,674,289
21$16,014,311$5,883,483$1,024,916$9,105,912
22$16,815,027$6,179,748$1,076,162$9,559,117
23$17,655,778$6,490,826$1,129,970$10,034,983
24$18,538,567$6,817,457$1,186,468$10,534,641
25$19,465,495$7,160,421$1,245,792$11,059,283
26$20,438,770$7,520,533$1,308,081$11,610,156
27$21,460,709$7,898,650$1,373,485$12,188,573
28$22,533,744$8,295,673$1,442,160$12,795,911
29$23,660,431$8,712,547$1,514,268$13,433,616
30$24,843,453$9,150,265$1,589,981$14,103,207
Total$401,000,001$147,115,632$25,664,000$228,220,367

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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.