South Carolina Lottery

SCLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue May 12, 2026 is estimated to be $232 Million, with a cash option of 103.8 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 12, 2026

Draw Date	Jackpot	Cash Option
Tue May 12, 2026	$232,000,000	$103,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$103,800,000
Federal Tax(24%)	$24,912,000
Additional Federal Tax	$13,454,330
State Tax(6.9%)	$7,162,200
Net Lumpsum Payment	$58,271,470

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,491,832	-$1,252,308 -$240,936	$1,998,588
2	$3,666,528	-$1,316,946 -$252,990	$2,096,592
3	$3,849,808	-$1,384,759 -$265,637	$2,199,412
4	$4,042,368	-$1,456,007 -$278,923	$2,307,438
5	$4,244,440	-$1,530,773 -$292,866	$2,420,801
6	$4,456,720	-$1,609,317 -$307,514	$2,539,889
7	$4,679,440	-$1,691,723 -$322,881	$2,664,836
8	$4,913,528	-$1,778,336 -$339,033	$2,796,159
9	$5,159,216	-$1,869,240 -$355,986	$2,933,990
10	$5,417,200	-$1,964,694 -$373,787	$3,078,719
11	$5,687,944	-$2,064,870 -$392,468	$3,230,606
12	$5,972,376	-$2,170,110 -$412,094	$3,390,172
13	$6,270,960	-$2,280,586 -$432,696	$3,557,678
14	$6,584,624	-$2,396,641 -$454,339	$3,733,644
15	$6,913,832	-$2,518,448 -$477,054	$3,918,330
16	$7,259,512	-$2,646,350 -$500,906	$4,112,256
17	$7,622,360	-$2,780,604 -$525,943	$4,315,813
18	$8,003,536	-$2,921,639 -$552,244	$4,529,653
19	$8,403,736	-$3,069,713 -$579,858	$4,754,165
20	$8,823,888	-$3,225,169 -$608,848	$4,989,871
21	$9,265,152	-$3,388,437 -$639,295	$5,237,420
22	$9,728,456	-$3,559,859 -$671,263	$5,497,334
23	$10,214,728	-$3,739,780 -$704,816	$5,770,132
24	$10,725,592	-$3,928,799 -$740,066	$6,056,727
25	$11,261,744	-$4,127,176 -$777,060	$6,357,508
26	$11,825,040	-$4,335,595 -$815,928	$6,673,517
27	$12,416,176	-$4,554,316 -$856,716	$7,005,144
28	$13,037,008	-$4,784,023 -$899,554	$7,353,431
29	$13,688,928	-$5,025,234 -$944,536	$7,719,158
30	$14,373,328	-$5,278,462 -$991,760	$8,103,106