South Dakota Lottery

SDLottery 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. The good news is that if you're a resident of South Dakota, you won't owe any state tax on 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 Dakota 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(0%)	$0
Net Lumpsum Payment	$8,418,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$436,479	-$121,828 -$0	$314,651
2	$458,316	-$129,907 -$0	$328,409
3	$481,226	-$138,384 -$0	$342,842
4	$505,296	-$147,290 -$0	$358,006
5	$530,555	-$156,636 -$0	$373,919
6	$557,090	-$166,454 -$0	$390,636
7	$584,930	-$176,754 -$0	$408,176
8	$614,191	-$187,581 -$0	$426,610
9	$644,902	-$198,944 -$0	$445,958
10	$677,150	-$210,876 -$0	$466,274
11	$710,993	-$223,398 -$0	$487,595
12	$746,547	-$236,553 -$0	$509,994
13	$783,870	-$250,362 -$0	$533,508
14	$823,078	-$264,869 -$0	$558,209
15	$864,229	-$280,095 -$0	$584,134
16	$907,439	-$296,083 -$0	$611,356
17	$952,795	-$312,865 -$0	$639,930
18	$1,000,442	-$330,494 -$0	$669,948
19	$1,050,467	-$349,003 -$0	$701,464
20	$1,102,986	-$368,435 -$0	$734,551
21	$1,158,144	-$388,844 -$0	$769,300
22	$1,216,057	-$410,271 -$0	$805,786
23	$1,276,841	-$432,762 -$0	$844,079
24	$1,340,699	-$456,389 -$0	$884,310
25	$1,407,718	-$481,186 -$0	$926,532
26	$1,478,130	-$507,238 -$0	$970,892
27	$1,552,022	-$534,579 -$0	$1,017,443
28	$1,629,626	-$563,292 -$0	$1,066,334
29	$1,711,116	-$593,443 -$0	$1,117,673
30	$1,796,666	-$625,097 -$0	$1,171,569