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South Carolina Mega Millions Jackpot Annuity Payout Schedule for Dec 16, 2022

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The tax information provided here is based on 2025 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 $429,000,000 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, Dec 16, 2022
Jackpot:$429,000,000
Federal Tax:37% marginal rate
State Tax: 6.2%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,457,066$2,346,135$400,338$3,710,593
2$6,779,919$2,465,590$420,355$3,893,974
3$7,118,915$2,591,019$441,373$4,086,523
4$7,474,861$2,722,719$463,441$4,288,701
5$7,848,603$2,861,004$486,613$4,500,987
6$8,241,034$3,006,203$510,944$4,723,887
7$8,653,086$3,158,662$536,491$4,957,932
8$9,085,740$3,318,744$563,316$5,203,680
9$9,540,027$3,486,830$591,482$5,461,715
10$10,017,028$3,663,321$621,056$5,732,652
11$10,517,880$3,848,636$652,109$6,017,135
12$11,043,774$4,043,216$684,714$6,315,843
13$11,595,962$4,247,526$718,950$6,629,486
14$12,175,760$4,462,052$754,897$6,958,812
15$12,784,548$4,687,303$792,642$7,304,603
16$13,423,776$4,923,817$832,274$7,667,684
17$14,094,964$5,172,157$873,888$8,048,920
18$14,799,713$5,432,914$917,582$8,449,217
19$15,539,698$5,706,709$963,461$8,869,528
20$16,316,683$5,994,193$1,011,634$9,310,856
21$17,132,517$6,296,052$1,062,216$9,774,250
22$17,989,143$6,613,003$1,115,327$10,260,813
23$18,888,601$6,945,802$1,171,093$10,771,705
24$19,833,030$7,295,241$1,229,648$11,308,141
25$20,824,682$7,662,153$1,291,130$11,871,399
26$21,865,916$8,047,409$1,355,687$12,462,820
27$22,959,212$8,451,929$1,423,471$13,083,812
28$24,107,172$8,876,674$1,494,645$13,735,854
29$25,312,531$9,322,657$1,569,377$14,420,497
30$26,578,158$9,790,939$1,647,846$15,139,373
Total$429,000,001$157,440,609$26,598,000$244,961,392

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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.