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South Carolina Mega Millions Jackpot Annuity Payout Schedule for Aug 29, 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 $67,000,000 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, Aug 29, 2023
Jackpot:$67,000,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,008,446$331,313$64,541$612,593
2$1,058,868$349,969$67,768$641,132
3$1,111,812$369,558$71,156$671,098
4$1,167,403$390,127$74,714$702,562
5$1,225,773$411,724$78,449$735,600
6$1,287,061$434,400$82,372$770,289
7$1,351,414$458,211$86,491$806,713
8$1,418,985$483,212$90,815$844,958
9$1,489,934$509,463$95,356$885,115
10$1,564,431$537,027$100,124$927,280
11$1,642,653$565,969$105,130$971,554
12$1,724,785$596,358$110,386$1,018,041
13$1,811,024$628,267$115,906$1,066,852
14$1,901,576$661,771$121,701$1,118,104
15$1,996,654$696,950$127,786$1,171,919
16$2,096,487$733,888$134,175$1,228,424
17$2,201,311$772,673$140,884$1,287,755
18$2,311,377$813,397$147,928$1,350,052
19$2,426,946$856,158$155,325$1,415,464
20$2,548,293$901,056$163,091$1,484,146
21$2,675,708$948,200$171,245$1,556,263
22$2,809,493$997,700$179,808$1,631,985
23$2,949,968$1,049,676$188,798$1,711,494
24$3,097,466$1,104,250$198,238$1,794,978
25$3,252,340$1,161,553$208,150$1,882,636
26$3,414,957$1,221,722$218,557$1,974,678
27$3,585,704$1,284,898$229,485$2,071,321
28$3,764,990$1,351,234$240,959$2,172,796
29$3,953,239$1,420,886$253,007$2,279,346
30$4,150,901$1,494,021$265,658$2,391,222
Total$67,000,000$23,535,631$4,288,003$39,176,370

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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.