USA Mega

South Carolina Mega Millions Jackpot Annuity Payout Schedule for Jul 23, 2021

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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 $140,000,000 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, Jul 23, 2021
Jackpot:$140,000,000
Federal Tax:37% marginal rate
State Tax: 7%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,107,201$743,737$147,504$1,215,960
2$2,212,561$782,720$154,879$1,274,962
3$2,323,189$823,652$162,623$1,336,914
4$2,439,349$866,631$170,754$1,401,963
5$2,561,316$911,759$179,292$1,470,265
6$2,689,382$959,143$188,257$1,541,981
7$2,823,851$1,008,897$197,670$1,617,284
8$2,965,043$1,061,138$207,553$1,696,352
9$3,113,296$1,115,992$217,931$1,779,373
10$3,268,960$1,173,588$228,827$1,866,545
11$3,432,408$1,234,063$240,269$1,958,076
12$3,604,029$1,297,563$252,282$2,054,184
13$3,784,230$1,364,237$264,896$2,155,097
14$3,973,442$1,434,246$278,141$2,261,055
15$4,172,114$1,507,754$292,048$2,372,311
16$4,380,719$1,584,938$306,650$2,489,131
17$4,599,755$1,665,982$321,983$2,611,791
18$4,829,743$1,751,077$338,082$2,740,584
19$5,071,230$1,840,427$354,986$2,875,817
20$5,324,792$1,934,245$372,735$3,017,811
21$5,591,031$2,032,754$391,372$3,166,905
22$5,870,583$2,136,188$410,941$3,323,454
23$6,164,112$2,244,794$431,488$3,487,831
24$6,472,318$2,358,830$453,062$3,660,426
25$6,795,933$2,478,568$475,715$3,841,650
26$7,135,730$2,604,292$499,501$4,031,937
27$7,492,517$2,736,303$524,476$4,231,737
28$7,867,143$2,874,915$550,700$4,441,528
29$8,260,500$3,020,457$578,235$4,661,808
30$8,673,525$3,173,276$607,147$4,893,102
Total$140,000,000$50,722,166$9,799,999$79,477,834

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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.