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South Carolina Mega Millions Jackpot Annuity Payout Schedule for Sep 15, 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 $162,000,000 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, Sep 15, 2023
Jackpot:$162,000,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,438,332$860,371$156,053$1,421,908
2$2,560,249$905,480$163,856$1,490,913
3$2,688,262$952,845$172,049$1,563,368
4$2,822,675$1,002,577$180,651$1,639,446
5$2,963,808$1,054,797$189,684$1,719,328
6$3,111,999$1,109,627$199,168$1,803,204
7$3,267,599$1,167,199$209,126$1,891,273
8$3,430,979$1,227,650$219,583$1,983,746
9$3,602,528$1,291,123$230,562$2,080,843
10$3,782,654$1,357,770$242,090$2,182,794
11$3,971,787$1,427,749$254,194$2,289,844
12$4,170,376$1,501,227$266,904$2,402,245
13$4,378,895$1,578,379$280,249$2,520,267
14$4,597,840$1,659,388$294,262$2,644,189
15$4,827,732$1,744,448$308,975$2,774,308
16$5,069,118$1,833,761$324,424$2,910,933
17$5,322,574$1,927,540$340,645$3,054,389
18$5,588,703$2,026,008$357,677$3,205,018
19$5,868,138$2,129,399$375,561$3,363,178
20$6,161,545$2,237,959$394,339$3,529,247
21$6,469,622$2,351,948$414,056$3,703,618
22$6,793,103$2,471,636$434,759$3,886,709
23$7,132,758$2,597,308$456,497$4,078,953
24$7,489,396$2,729,264$479,321$4,280,810
25$7,863,866$2,867,818$503,287$4,492,760
26$8,257,059$3,013,300$528,452$4,715,308
27$8,669,912$3,166,055$554,874$4,948,983
28$9,103,408$3,326,449$582,618$5,194,341
29$9,558,578$3,494,862$611,749$5,451,967
30$10,036,507$3,671,695$642,336$5,722,475
Total$162,000,000$58,685,632$10,368,001$92,946,365

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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.