South Carolina Lottery

SCLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue May 20, 2025 is estimated to be $139 Million, with a cash option of 62.3 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of South Carolina, your state will take 6.9% of your lottery winnings.

Please note that the calculation of the MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

South Carolina MEGA Millions Jackpot/Cash Option for Tue May 20, 2025

Draw Date	Jackpot	Cash Option
Tue May 20, 2025	$139,000,000	$62,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$62,300,000
Federal Tax(24%)	$14,952,000
Additional Federal Tax	$8,059,330
State Tax(6.9%)	$4,298,700
Net Lumpsum Payment	$34,989,970

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,092,089	-$734,403 -$144,354	$1,213,332
2	$2,196,756	-$773,130 -$151,576	$1,272,050
3	$2,306,566	-$813,760 -$159,153	$1,333,653
4	$2,421,936	-$856,447 -$167,114	$1,398,375
5	$2,543,005	-$901,242 -$175,467	$1,466,296
6	$2,670,190	-$948,301 -$184,243	$1,537,646
7	$2,803,630	-$997,673 -$193,450	$1,612,507
8	$2,943,881	-$1,049,566 -$203,128	$1,691,187
9	$3,091,082	-$1,104,031 -$213,285	$1,773,766
10	$3,245,650	-$1,161,221 -$223,950	$1,860,479
11	$3,407,863	-$1,221,240 -$235,143	$1,951,480
12	$3,578,277	-$1,284,293 -$246,901	$2,047,083
13	$3,757,170	-$1,350,483 -$259,245	$2,147,442
14	$3,945,098	-$1,420,017 -$272,212	$2,252,869
15	$4,142,339	-$1,492,996 -$285,821	$2,363,522
16	$4,349,449	-$1,569,627 -$300,112	$2,479,710
17	$4,566,845	-$1,650,063 -$315,112	$2,601,670
18	$4,795,222	-$1,734,563 -$330,870	$2,729,789
19	$5,034,997	-$1,823,279 -$347,415	$2,864,303
20	$5,286,726	-$1,916,419 -$364,784	$3,005,523
21	$5,551,104	-$2,014,239 -$383,026	$3,153,839
22	$5,828,687	-$2,116,945 -$402,179	$3,309,563
23	$6,120,031	-$2,224,742 -$422,282	$3,473,007
24	$6,426,109	-$2,337,991 -$443,402	$3,644,716
25	$6,747,338	-$2,456,845 -$465,566	$3,824,927
26	$7,084,830	-$2,581,717 -$488,853	$4,014,260
27	$7,439,002	-$2,712,761 -$513,291	$4,212,950
28	$7,810,966	-$2,850,388 -$538,957	$4,421,621
29	$8,201,556	-$2,994,906 -$565,907	$4,640,743
30	$8,611,606	-$3,146,625 -$594,201	$4,870,780