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 |
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Draw Date | Fri Apr 4, 2025 | Projected Jackpot | $43,000,000 | Cash Value | $20,000,000 |
Lumpsum Option Taxes and Payment |
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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 |
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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 |
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