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South Carolina Mega Millions Jackpot Annuity Payout Schedule for Dec 23, 2022

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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 $510,000,000 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 23, 2022
Jackpot:$510,000,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,676,232$2,798,394$491,279$4,386,559
2$8,060,044$2,940,404$515,843$4,603,797
3$8,463,046$3,089,515$541,635$4,831,896
4$8,886,198$3,246,081$568,717$5,071,400
5$9,330,508$3,410,476$597,152$5,322,880
6$9,797,033$3,583,090$627,010$5,586,933
7$10,286,885$3,764,335$658,361$5,864,189
8$10,801,229$3,954,643$691,279$6,155,308
9$11,341,291$4,154,465$725,843$6,460,983
10$11,908,355$4,364,279$762,135$6,781,941
11$12,503,773$4,584,584$800,241$7,118,948
12$13,128,962$4,815,904$840,254$7,472,805
13$13,785,410$5,058,789$882,266$7,844,354
14$14,474,680$5,313,819$926,380$8,234,481
15$15,198,414$5,581,601$972,699$8,644,115
16$15,958,335$5,862,772$1,021,333$9,074,230
17$16,756,251$6,158,001$1,072,400$9,525,851
18$17,594,064$6,467,991$1,126,020$10,000,053
19$18,473,767$6,793,482$1,182,321$10,497,965
20$19,397,456$7,135,246$1,241,437$11,020,772
21$20,367,328$7,494,099$1,303,509$11,569,720
22$21,385,695$7,870,895$1,368,684$12,146,116
23$22,454,980$8,266,530$1,437,119$12,751,331
24$23,577,728$8,681,947$1,508,975$13,386,807
25$24,756,615$9,118,135$1,584,423$14,054,056
26$25,994,446$9,576,133$1,663,645$14,754,669
27$27,294,168$10,057,030$1,746,827$15,490,311
28$28,658,876$10,561,972$1,834,168$16,262,736
29$30,091,820$11,092,161$1,925,876$17,073,782
30$31,596,411$11,648,860$2,022,170$17,925,381
Total$510,000,001$187,445,633$32,640,001$289,914,369

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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.