USA Mega

South Carolina Mega Millions Jackpot Annuity Payout Schedule for Mar 22, 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 $977,000,000 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, Mar 22, 2024
Jackpot:$977,000,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$14,705,252$5,399,131$941,136$8,364,985
2$15,440,515$5,671,178$988,193$8,781,144
3$16,212,540$5,956,828$1,037,603$9,218,110
4$17,023,168$6,256,760$1,089,483$9,676,925
5$17,874,325$6,571,688$1,143,957$10,158,680
6$18,768,042$6,902,363$1,201,155$10,664,524
7$19,706,445$7,249,572$1,261,212$11,195,660
8$20,691,767$7,614,141$1,324,273$11,753,352
9$21,726,355$7,996,939$1,390,487$12,338,929
10$22,812,673$8,398,877$1,460,011$12,953,785
11$23,953,306$8,820,911$1,533,012$13,599,384
12$25,150,972$9,264,047$1,609,662$14,277,262
13$26,408,520$9,729,340$1,690,145$14,989,035
14$27,728,946$10,217,898$1,774,653$15,736,396
15$29,115,393$10,730,883$1,863,385$16,521,125
16$30,571,163$11,269,518$1,956,554$17,345,091
17$32,099,721$11,835,084$2,054,382$18,210,254
18$33,704,707$12,428,929$2,157,101$19,118,677
19$35,389,942$13,052,466$2,264,956$20,072,520
20$37,159,440$13,707,180$2,378,204$21,074,055
21$39,017,411$14,394,630$2,497,114$22,125,667
22$40,968,282$15,116,452$2,621,970$23,229,860
23$43,016,696$15,874,365$2,753,069$24,389,262
24$45,167,531$16,670,174$2,890,722$25,606,635
25$47,425,907$17,505,773$3,035,258$26,884,876
26$49,797,203$18,383,153$3,187,021$28,227,029
27$52,287,064$19,304,401$3,346,372$29,636,290
28$54,901,416$20,271,712$3,513,691$31,116,014
29$57,646,487$21,287,388$3,689,375$32,669,724
30$60,528,812$22,353,848$3,873,844$34,301,120
Total$977,000,002$360,235,629$62,528,000$554,236,370

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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.