USA Mega

South Carolina Mega Millions Jackpot Annuity Payout Schedule for Aug 25, 2023

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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 $52,000,000 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, Aug 25, 2023
Jackpot:$52,000,000
Federal Tax:37% marginal rate
State Tax: 6.2%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$782,675$246,610$48,526$487,539
2$821,808$261,089$50,952$509,767
3$862,899$276,293$53,500$533,106
4$906,044$292,256$56,175$557,613
5$951,346$309,018$58,983$583,344
6$998,913$326,618$61,933$610,362
7$1,048,859$345,098$65,029$638,732
8$1,101,302$364,502$68,281$668,519
9$1,156,367$384,876$71,695$699,796
10$1,214,185$406,269$75,279$732,637
11$1,274,895$428,731$79,043$767,120
12$1,338,639$452,317$82,996$803,327
13$1,405,571$477,082$87,145$841,344
14$1,475,850$503,085$91,503$881,262
15$1,549,642$530,388$96,078$923,177
16$1,627,124$559,056$100,882$967,186
17$1,708,481$589,158$105,926$1,013,397
18$1,793,905$620,765$111,222$1,061,918
19$1,883,600$653,952$116,783$1,112,864
20$1,977,780$688,799$122,622$1,166,359
21$2,076,669$725,388$128,753$1,222,528
22$2,180,502$763,806$135,191$1,281,505
23$2,289,527$804,145$141,951$1,343,431
24$2,404,004$846,502$149,048$1,408,454
25$2,524,204$890,976$156,501$1,476,728
26$2,650,414$937,673$164,326$1,548,415
27$2,782,935$986,706$172,542$1,623,687
28$2,922,082$1,038,190$181,169$1,702,722
29$3,068,186$1,092,249$190,228$1,785,709
30$3,221,595$1,149,010$199,739$1,872,846
Total$52,000,000$17,950,607$3,224,001$30,825,394

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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.