South Carolina Lottery

SCLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Feb 25, 2025 is estimated to be $181 Million, with a cash option of 82.7 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 Feb 25, 2025

Draw Date	Jackpot	Cash Option
Tue Feb 25, 2025	$181,000,000	$82,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$82,700,000
Federal Tax(24%)	$19,848,000
Additional Federal Tax	$10,711,330
State Tax(6.9%)	$5,706,300
Net Lumpsum Payment	$46,434,370

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,724,231	-$968,296 -$187,972	$1,567,963
2	$2,860,524	-$1,018,724 -$197,376	$1,644,424
3	$3,003,514	-$1,071,631 -$207,242	$1,724,641
4	$3,153,744	-$1,127,216 -$217,608	$1,808,920
5	$3,311,395	-$1,185,547 -$228,486	$1,897,362
6	$3,477,010	-$1,246,824 -$239,914	$1,990,272
7	$3,650,770	-$1,311,115 -$251,903	$2,087,752
8	$3,833,399	-$1,378,688 -$264,505	$2,190,206
9	$4,025,078	-$1,449,609 -$277,730	$2,297,739
10	$4,226,350	-$1,524,080 -$291,618	$2,410,652
11	$4,437,577	-$1,602,234 -$306,193	$2,529,150
12	$4,659,483	-$1,684,339 -$321,504	$2,653,640
13	$4,892,430	-$1,770,529 -$337,578	$2,784,323
14	$5,137,142	-$1,861,073 -$354,463	$2,921,606
15	$5,393,981	-$1,956,103 -$372,185	$3,065,693
16	$5,663,671	-$2,055,889 -$390,793	$3,216,989
17	$5,946,755	-$2,160,630 -$410,326	$3,375,799
18	$6,244,138	-$2,270,661 -$430,846	$3,542,631
19	$6,556,363	-$2,386,185 -$452,389	$3,717,789
20	$6,884,154	-$2,507,467 -$475,007	$3,901,680
21	$7,228,416	-$2,634,844 -$498,761	$4,094,811
22	$7,589,873	-$2,768,583 -$523,701	$4,297,589
23	$7,969,249	-$2,908,953 -$549,878	$4,510,418
24	$8,367,811	-$3,056,420 -$577,379	$4,734,012
25	$8,786,102	-$3,211,188 -$606,241	$4,968,673
26	$9,225,570	-$3,373,791 -$636,564	$5,215,215
27	$9,686,758	-$3,544,431 -$668,386	$5,473,941
28	$10,171,114	-$3,723,643 -$701,807	$5,745,664
29	$10,679,724	-$3,911,828 -$736,901	$6,030,995
30	$11,213,674	-$4,109,390 -$773,744	$6,330,540