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South Carolina Mega Millions Jackpot Annuity Payout Schedule for Feb 27, 2024

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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 $563,000,000 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, Feb 27, 2024
Jackpot:$563,000,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$8,473,958$3,093,552$542,333$4,838,072
2$8,897,656$3,250,320$569,450$5,077,886
3$9,342,539$3,414,927$597,922$5,329,689
4$9,809,666$3,587,764$627,819$5,594,083
5$10,300,149$3,769,243$659,210$5,871,696
6$10,815,156$3,959,796$692,170$6,163,191
7$11,355,914$4,159,876$726,779$6,469,260
8$11,923,710$4,369,960$763,117$6,790,632
9$12,519,895$4,590,549$801,273$7,128,073
10$13,145,890$4,822,167$841,337$7,482,386
11$13,803,185$5,065,366$883,404$7,854,415
12$14,493,344$5,320,725$927,574$8,245,045
13$15,218,011$5,588,852$973,953$8,655,207
14$15,978,912$5,870,385$1,022,650$9,085,876
15$16,777,857$6,165,995$1,073,783$9,538,079
16$17,616,750$6,476,385$1,127,472$10,012,893
17$18,497,587$6,802,295$1,183,846$10,511,447
18$19,422,467$7,144,501$1,243,038$11,034,929
19$20,393,590$7,503,816$1,305,190$11,584,584
20$21,413,270$7,881,098$1,370,449$12,161,723
21$22,483,933$8,277,243$1,438,972$12,767,718
22$23,608,130$8,693,196$1,510,920$13,404,014
23$24,788,536$9,129,946$1,586,466$14,072,124
24$26,027,963$9,588,534$1,665,790$14,773,639
25$27,329,361$10,070,051$1,749,079$15,510,231
26$28,695,830$10,575,645$1,836,533$16,283,652
27$30,130,621$11,106,518$1,928,360$17,095,744
28$31,637,152$11,663,934$2,024,778$17,948,440
29$33,219,009$12,249,221$2,126,017$18,843,772
30$34,879,960$12,863,773$2,232,317$19,783,870
Total$563,000,001$207,055,633$36,032,001$319,912,370

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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.