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South Dakota Mega Millions Jackpot Annuity Payout Schedule for Nov 20, 2020

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The tax information provided here is based on 2021 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 $188,000,000 for a ticket purchased in South Dakota, 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 prize money, as well as deductions claimed.

State:

South Dakota

Drawing Date:Fri, Nov 20, 2020
Jackpot:$188,000,000
Federal Tax:37% marginal rate
State Tax: No state tax on lottery prizes
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,829,670$1,011,050$0$1,818,620
2$2,971,153$1,063,399$0$1,907,754
3$3,119,711$1,118,365$0$2,001,346
4$3,275,697$1,176,080$0$2,099,617
5$3,439,481$1,236,680$0$2,202,801
6$3,611,455$1,300,311$0$2,311,145
7$3,792,028$1,367,123$0$2,424,906
8$3,981,630$1,437,275$0$2,544,354
9$4,180,711$1,510,935$0$2,669,776
10$4,389,747$1,588,278$0$2,801,468
11$4,609,234$1,669,489$0$2,939,745
12$4,839,696$1,754,760$0$3,084,936
13$5,081,680$1,844,294$0$3,237,386
14$5,335,764$1,938,305$0$3,397,459
15$5,602,553$2,037,017$0$3,565,536
16$5,882,680$2,140,664$0$3,742,016
17$6,176,814$2,249,494$0$3,927,321
18$6,485,655$2,363,765$0$4,121,890
19$6,809,938$2,483,749$0$4,326,189
20$7,150,435$2,609,733$0$4,540,702
21$7,507,956$2,742,016$0$4,765,940
22$7,883,354$2,880,913$0$5,002,441
23$8,277,522$3,026,755$0$5,250,767
24$8,691,398$3,179,889$0$5,511,508
25$9,125,968$3,340,680$0$5,785,287
26$9,582,266$3,509,511$0$6,072,756
27$10,061,380$3,686,783$0$6,374,597
28$10,564,449$3,872,918$0$6,691,530
29$11,092,671$4,068,361$0$7,024,310
30$11,647,305$4,273,575$0$7,373,730
Total$188,000,000$68,482,167$0$119,517,833

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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.