USA Mega

South Carolina Mega Millions Jackpot Annuity Payout Schedule for Oct 25, 2022

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $45,000,000 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:Tue, Oct 25, 2022
Jackpot:$45,000,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$677,315$208,794$43,348$425,172
2$711,180$221,324$45,516$444,340
3$746,739$234,481$47,791$464,467
4$784,076$248,296$50,181$485,599
5$823,280$262,801$52,690$507,789
6$864,444$278,032$55,324$531,088
7$907,666$294,024$58,091$555,551
8$953,050$310,816$60,995$581,238
9$1,000,702$328,448$64,045$608,210
10$1,050,737$346,961$67,247$636,530
11$1,103,274$366,399$70,610$666,265
12$1,158,438$386,810$74,140$697,488
13$1,216,360$408,241$77,847$730,272
14$1,277,178$430,743$81,739$764,695
15$1,341,037$454,371$85,826$800,839
16$1,408,088$479,180$90,118$838,790
17$1,478,493$505,230$94,624$878,639
18$1,552,417$532,582$99,355$920,481
19$1,630,038$561,302$104,322$964,414
20$1,711,540$591,458$109,539$1,010,544
21$1,797,117$623,121$115,016$1,058,981
22$1,886,973$656,368$120,766$1,109,839
23$1,981,322$691,277$126,805$1,163,240
24$2,080,388$727,931$133,145$1,219,312
25$2,184,407$766,418$139,802$1,278,187
26$2,293,628$806,830$146,792$1,340,005
27$2,408,309$849,262$154,132$1,404,915
28$2,528,724$893,816$161,838$1,473,070
29$2,655,161$940,597$169,930$1,544,633
30$2,787,919$989,718$178,427$1,619,774
Total$45,000,000$15,395,631$2,880,001$26,724,367

◄ Back to Jackpot Analysis

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.