USA Mega

South Carolina Mega Millions Jackpot Annuity Payout Schedule for Jun 13, 2023

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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 $260,000,000 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, Jun 13, 2023
Jackpot:$260,000,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,913,373$1,406,136$250,456$2,256,781
2$4,109,042$1,478,533$262,979$2,367,530
3$4,314,494$1,554,550$276,128$2,483,816
4$4,530,219$1,634,369$289,934$2,605,916
5$4,756,729$1,718,178$304,431$2,734,121
6$4,994,566$1,806,177$319,652$2,868,737
7$5,244,294$1,898,577$335,635$3,010,083
8$5,506,509$1,995,596$352,417$3,158,496
9$5,781,835$2,097,467$370,037$3,314,331
10$6,070,926$2,204,430$388,539$3,477,956
11$6,374,473$2,316,743$407,966$3,649,764
12$6,693,196$2,434,670$428,365$3,830,161
13$7,027,856$2,558,494$449,783$4,019,579
14$7,379,249$2,688,510$472,272$4,218,467
15$7,748,211$2,825,026$495,886$4,427,300
16$8,135,622$2,968,368$520,680$4,646,574
17$8,542,403$3,118,877$546,714$4,876,812
18$8,969,523$3,276,911$574,049$5,118,562
19$9,417,999$3,442,847$602,752$5,372,400
20$9,888,899$3,617,080$632,890$5,638,929
21$10,383,344$3,800,025$664,534$5,918,785
22$10,902,511$3,992,117$697,761$6,212,634
23$11,447,637$4,193,813$732,649$6,521,175
24$12,020,018$4,405,595$769,281$6,845,143
25$12,621,019$4,627,965$807,745$7,185,309
26$13,252,071$4,861,454$848,133$7,542,484
27$13,914,674$5,106,617$890,539$7,917,518
28$14,610,408$5,364,039$935,066$8,311,303
29$15,340,928$5,634,331$981,819$8,724,777
30$16,107,974$5,918,138$1,030,910$9,158,926
Total$260,000,001$94,945,633$16,640,002$148,414,369

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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.