Jackpot Analysis South Carolina Mega Millions

Jackpot Analysis for South Carolina Mega Millions
The jackpot for the MEGA Millions draw on Fri Apr 4, 2025, is projected to be $43 Million, with an option for a cash payout of $20 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For South Carolina residents, the state will deduct 6.9% from your lottery earnings.

South Carolina MEGA Millions Jackpot/Cash Option for Fri Apr 4, 2025
Draw DateFri Apr 4, 2025
Projected Jackpot$43,000,000
Cash Value$20,000,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$20,000,000
Federal Tax(24%)$4,800,000
Additional Federal Tax$2,560,330
State Tax(6.9%)$1,380,000
Net Lumpsum Payment$11,259,670
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $647,193 $199,792
$44,656
$402,745
2 $679,572 $211,772
$46,890
$420,910
3 $713,542 $224,341
$49,234
$439,967
4 $749,232 $237,546
$51,697
$459,989
5 $786,685 $251,404
$54,281
$481,000
6 $826,030 $265,961
$56,996
$503,073
7 $867,310 $281,235
$59,844
$526,231
8 $910,697 $297,288
$62,838
$550,571
9 $956,234 $314,137
$65,980
$576,117
10 $1,004,050 $331,829
$69,279
$602,942
11 $1,054,231 $350,396
$72,742
$631,093
12 $1,106,949 $369,902
$76,379
$660,668
13 $1,162,290 $390,378
$80,198
$691,714
14 $1,220,426 $411,888
$84,209
$724,329
15 $1,281,443 $434,464
$88,420
$758,559
16 $1,345,513 $458,170
$92,840
$794,503
17 $1,412,765 $483,053
$97,481
$832,231
18 $1,483,414 $509,194
$102,356
$871,864
19 $1,557,589 $536,638
$107,474
$913,477
20 $1,635,462 $565,451
$112,847
$957,164
21 $1,717,248 $595,712
$118,490
$1,003,046
22 $1,803,119 $627,484
$124,415
$1,051,220
23 $1,893,247 $660,832
$130,634
$1,101,781
24 $1,987,933 $695,866
$137,167
$1,154,900
25 $2,087,306 $732,634
$144,024
$1,210,648
26 $2,191,710 $771,263
$151,228
$1,269,219
27 $2,301,274 $811,802
$158,788
$1,330,684
28 $2,416,342 $854,377
$166,728
$1,395,237
29 $2,537,172 $899,084
$175,065
$1,463,023
30 $2,664,022 $946,019
$183,818
$1,534,185