USA Mega

South Carolina Mega Millions Jackpot Annuity Payout Schedule for Jan 31, 2023

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 $31,000,000 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, Jan 31, 2023
Jackpot:$31,000,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$466,594$133,683$29,862$303,050
2$489,924$141,848$31,355$316,721
3$514,420$150,422$32,923$331,076
4$540,141$159,424$34,569$346,148
5$567,149$168,877$36,298$361,974
6$595,506$178,802$38,112$378,592
7$625,281$189,542$40,018$395,721
8$656,545$201,110$42,019$413,417
9$689,373$213,256$44,120$431,997
10$723,841$226,009$46,326$451,506
11$760,033$239,400$48,642$471,991
12$798,035$253,461$51,074$493,500
13$837,937$268,224$53,628$516,084
14$879,834$283,726$56,309$539,798
15$923,825$300,003$59,125$564,697
16$970,016$317,094$62,081$590,842
17$1,018,517$335,039$65,185$618,293
18$1,069,443$353,882$68,444$647,117
19$1,122,915$373,666$71,867$677,382
20$1,179,061$394,440$75,460$709,161
21$1,238,014$416,253$79,233$742,528
22$1,299,915$439,156$83,195$777,564
23$1,364,911$463,205$87,354$814,352
24$1,433,156$488,455$91,722$852,979
25$1,504,814$514,969$96,308$893,537
26$1,580,055$542,808$101,123$936,123
27$1,659,057$572,039$106,180$980,839
28$1,742,010$602,731$111,489$1,027,790
29$1,829,111$634,959$117,063$1,077,089
30$1,920,566$668,797$122,916$1,128,853
Total$31,000,000$10,225,280$1,984,000$18,790,721

◄ 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.