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South Dakota Mega Millions Jackpot Annuity Payout Schedule for Aug 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 $582,000,000 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:Tue, Aug 27, 2024
Jackpot:$582,000,000
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$8,759,935$3,199,364$0$5,560,571
2$9,197,932$3,361,423$0$5,836,509
3$9,657,828$3,531,584$0$6,126,244
4$10,140,720$3,710,254$0$6,430,466
5$10,647,756$3,897,857$0$6,749,898
6$11,180,144$4,094,841$0$7,085,303
7$11,739,151$4,301,674$0$7,437,478
8$12,326,109$4,518,848$0$7,807,261
9$12,942,414$4,746,881$0$8,195,533
10$13,589,535$4,986,316$0$8,603,219
11$14,269,012$5,237,722$0$9,031,290
12$14,982,462$5,501,699$0$9,480,763
13$15,731,585$5,778,874$0$9,952,711
14$16,518,165$6,069,909$0$10,448,256
15$17,344,073$6,375,495$0$10,968,578
16$18,211,276$6,696,360$0$11,514,916
17$19,121,840$7,033,269$0$12,088,571
18$20,077,932$7,387,023$0$12,690,909
19$21,081,828$7,758,464$0$13,323,364
20$22,135,920$8,148,478$0$13,987,442
21$23,242,716$8,557,993$0$14,684,723
22$24,404,852$8,987,983$0$15,416,869
23$25,625,095$9,439,473$0$16,185,622
24$26,906,349$9,913,537$0$16,992,812
25$28,251,666$10,411,304$0$17,840,362
26$29,664,250$10,933,960$0$18,730,290
27$31,147,463$11,482,749$0$19,664,714
28$32,704,835$12,058,977$0$20,645,858
29$34,340,077$12,664,016$0$21,676,061
30$36,057,081$13,299,308$0$22,757,773
Total$582,000,001$214,085,635$0$367,914,366

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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.