South Carolina Lottery

SCLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Apr 1, 2025 is estimated to be $29 Million, with a cash option of 13.3 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 Apr 1, 2025

Draw Date	Jackpot	Cash Option
Tue Apr 1, 2025	$29,000,000	$13,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$13,300,000
Federal Tax(24%)	$3,192,000
Additional Federal Tax	$1,689,330
State Tax(6.9%)	$917,700
Net Lumpsum Payment	$7,500,970

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$436,479	-$121,828 -$30,117	$284,534
2	$458,316	-$129,907 -$31,624	$296,785
3	$481,226	-$138,384 -$33,205	$309,637
4	$505,296	-$147,290 -$34,865	$323,141
5	$530,555	-$156,636 -$36,608	$337,311
6	$557,090	-$166,454 -$38,439	$352,197
7	$584,930	-$176,754 -$40,360	$367,816
8	$614,191	-$187,581 -$42,379	$384,231
9	$644,902	-$198,944 -$44,498	$401,460
10	$677,150	-$210,876 -$46,723	$419,551
11	$710,993	-$223,398 -$49,059	$438,536
12	$746,547	-$236,553 -$51,512	$458,482
13	$783,870	-$250,362 -$54,087	$479,421
14	$823,078	-$264,869 -$56,792	$501,417
15	$864,229	-$280,095 -$59,632	$524,502
16	$907,439	-$296,083 -$62,613	$548,743
17	$952,795	-$312,865 -$65,743	$574,187
18	$1,000,442	-$330,494 -$69,030	$600,918
19	$1,050,467	-$349,003 -$72,482	$628,982
20	$1,102,986	-$368,435 -$76,106	$658,445
21	$1,158,144	-$388,844 -$79,912	$689,388
22	$1,216,057	-$410,271 -$83,908	$721,878
23	$1,276,841	-$432,762 -$88,102	$755,977
24	$1,340,699	-$456,389 -$92,508	$791,802
25	$1,407,718	-$481,186 -$97,133	$829,399
26	$1,478,130	-$507,238 -$101,991	$868,901
27	$1,552,022	-$534,579 -$107,090	$910,353
28	$1,629,626	-$563,292 -$112,444	$953,890
29	$1,711,116	-$593,443 -$118,067	$999,606
30	$1,796,666	-$625,097 -$123,970	$1,047,599