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South Dakota Mega Millions Jackpot Annuity Payout Schedule for Jul 26, 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 $306,000,000 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 money, as well as deductions claimed.

State:

South Dakota

Drawing Date:Fri, Jul 26, 2024
Jackpot:$306,000,000
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$4,605,739$1,662,311$0$2,943,428
2$4,836,026$1,747,517$0$3,088,509
3$5,077,827$1,836,984$0$3,240,843
4$5,331,719$1,930,924$0$3,400,795
5$5,598,305$2,029,560$0$3,568,744
6$5,878,220$2,133,129$0$3,745,091
7$6,172,131$2,241,876$0$3,930,255
8$6,480,738$2,356,061$0$4,124,677
9$6,804,774$2,475,954$0$4,328,820
10$7,145,013$2,601,843$0$4,543,171
11$7,502,264$2,734,025$0$4,768,238
12$7,877,377$2,872,817$0$5,004,560
13$8,271,246$3,018,549$0$5,252,697
14$8,684,808$3,171,567$0$5,513,241
15$9,119,048$3,332,236$0$5,786,813
16$9,575,001$3,500,938$0$6,074,063
17$10,053,751$3,678,076$0$6,375,675
18$10,556,438$3,864,070$0$6,692,368
19$11,084,260$4,059,364$0$7,024,896
20$11,638,473$4,264,423$0$7,374,051
21$12,220,397$4,479,735$0$7,740,662
22$12,831,417$4,705,812$0$8,125,605
23$13,472,988$4,943,193$0$8,529,795
24$14,146,637$5,192,443$0$8,954,194
25$14,853,969$5,454,156$0$9,399,813
26$15,596,668$5,728,955$0$9,867,713
27$16,376,501$6,017,493$0$10,359,008
28$17,195,326$6,320,458$0$10,874,867
29$18,055,092$6,638,572$0$11,416,520
30$18,957,847$6,972,591$0$11,985,256
Total$306,000,001$111,965,632$0$194,034,368

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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.