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South Carolina Mega Millions Jackpot Annuity Payout Schedule for May 21, 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 $516,000,000 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, May 21, 2021
Jackpot:$516,000,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,766,540$2,831,808$497,059$4,437,674
2$8,154,868$2,975,489$521,912$4,657,467
3$8,562,611$3,126,354$548,007$4,888,250
4$8,990,742$3,284,762$575,407$5,130,572
5$9,440,278$3,451,091$604,178$5,385,010
6$9,912,292$3,625,736$634,387$5,652,170
7$10,407,907$3,809,113$666,106$5,932,688
8$10,928,303$4,001,660$699,411$6,227,232
9$11,474,718$4,203,833$734,382$6,536,502
10$12,048,453$4,416,116$771,101$6,861,237
11$12,650,876$4,639,012$809,656$7,202,208
12$13,283,420$4,873,053$850,139$7,560,228
13$13,947,591$5,118,796$892,646$7,936,149
14$14,644,971$5,376,827$937,278$8,330,866
15$15,377,219$5,647,759$984,142$8,745,318
16$16,146,080$5,932,237$1,033,349$9,180,494
17$16,953,384$6,230,940$1,085,017$9,637,427
18$17,801,053$6,544,577$1,139,267$10,117,208
19$18,691,106$6,873,897$1,196,231$10,620,978
20$19,625,661$7,219,682$1,256,042$11,149,936
21$20,606,944$7,582,757$1,318,844$11,705,343
22$21,637,291$7,963,986$1,384,787$12,288,519
23$22,719,156$8,364,275$1,454,026$12,900,855
24$23,855,113$8,784,580$1,526,727$13,543,806
25$25,047,869$9,225,899$1,603,064$14,218,906
26$26,300,263$9,689,285$1,683,217$14,927,761
27$27,615,276$10,175,840$1,767,378$15,672,059
28$28,996,040$10,686,722$1,855,747$16,453,571
29$30,445,842$11,223,149$1,948,534$17,274,159
30$31,968,134$11,786,397$2,045,961$18,135,776
Total$516,000,001$189,665,632$33,024,002$293,310,369

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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.