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South Carolina Mega Millions Jackpot Annuity Payout Schedule for Sep 30, 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 $355,000,000 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, Sep 30, 2022
Jackpot:$355,000,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,343,259$1,935,194$341,969$3,066,097
2$5,610,422$2,034,044$359,067$3,217,311
3$5,890,943$2,137,837$377,020$3,376,086
4$6,185,491$2,246,819$395,871$3,542,800
5$6,494,765$2,361,251$415,665$3,717,849
6$6,819,503$2,481,404$436,448$3,901,651
7$7,160,479$2,607,565$458,271$4,094,643
8$7,518,503$2,740,034$481,184$4,297,285
9$7,894,428$2,879,126$505,243$4,510,058
10$8,289,149$3,025,173$530,506$4,733,471
11$8,703,607$3,178,522$557,031$4,968,054
12$9,138,787$3,339,539$584,882$5,214,366
13$9,595,726$3,508,606$614,126$5,472,993
14$10,075,513$3,686,127$644,833$5,744,552
15$10,579,288$3,872,524$677,074$6,029,689
16$11,108,253$4,068,241$710,928$6,329,083
17$11,663,665$4,273,744$746,475$6,643,447
18$12,246,849$4,489,522$783,798$6,973,529
19$12,859,191$4,716,088$822,988$7,320,114
20$13,502,151$4,953,983$864,138$7,684,029
21$14,177,258$5,203,773$907,345$8,066,140
22$14,886,121$5,466,052$952,712$8,467,357
23$15,630,427$5,741,446$1,000,347$8,888,634
24$16,411,948$6,030,609$1,050,365$9,330,975
25$17,232,546$6,334,230$1,102,883$9,795,433
26$18,094,173$6,653,032$1,158,027$10,283,114
27$18,998,882$6,987,774$1,215,928$10,795,179
28$19,948,826$7,339,253$1,276,725$11,332,848
29$20,946,267$7,708,307$1,340,561$11,897,399
30$21,993,581$8,095,813$1,407,589$12,490,179
Total$355,000,001$130,095,632$22,719,999$202,184,365

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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.