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South Carolina Mega Millions Jackpot Annuity Payout Schedule for Aug 25, 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 $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: 6.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$782,675$247,777$50,091$484,806
2$821,808$262,257$52,596$506,956
3$862,899$277,460$55,226$530,213
4$906,044$293,424$57,987$554,633
5$951,346$310,186$60,886$580,274
6$998,913$327,786$63,930$607,197
7$1,048,859$346,266$67,127$635,466
8$1,101,302$365,669$70,483$665,149
9$1,156,367$386,044$74,007$696,316
10$1,214,185$407,436$77,708$729,041
11$1,274,895$429,899$81,593$763,403
12$1,338,639$453,484$85,673$799,482
13$1,405,571$478,249$89,957$837,366
14$1,475,850$504,252$94,454$877,143
15$1,549,642$531,555$99,177$918,910
16$1,627,124$560,224$104,136$962,765
17$1,708,481$590,326$109,343$1,008,812
18$1,793,905$621,932$114,810$1,057,162
19$1,883,600$655,120$120,550$1,107,930
20$1,977,780$689,966$126,578$1,161,236
21$2,076,669$726,555$132,907$1,217,207
22$2,180,502$764,974$139,552$1,275,977
23$2,289,527$805,313$146,530$1,337,685
24$2,404,004$847,669$153,856$1,402,478
25$2,524,204$892,143$161,549$1,470,512
26$2,650,414$938,841$169,627$1,541,947
27$2,782,935$987,874$178,108$1,616,953
28$2,922,082$1,039,358$187,013$1,695,710
29$3,068,186$1,093,416$196,364$1,778,405
30$3,221,595$1,150,178$206,182$1,865,235
Total$52,000,000$17,985,633$3,328,000$30,686,369

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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.