Jackpot Analysis South Dakota Mega Millions

Jackpot Analysis for South Dakota Mega Millions
The jackpot for the MEGA Millions draw on Tue Apr 29, 2025, is projected to be $70 Million, with an option for a cash payout of $31.8 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 those living in South Dakota, the bright side is you won't have to pay any state taxes on your lottery prize.

South Dakota MEGA Millions Jackpot/Cash Option for Tue Apr 29, 2025
Draw DateTue Apr 29, 2025
Projected Jackpot$70,000,000
Cash Value$31,800,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$31,800,000
Federal Tax(24%)$7,632,000
Additional Federal Tax$4,094,330
State Tax(0%)$0
Net Lumpsum Payment$20,073,670
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $1,053,570 $350,151
$0
$703,419
2 $1,106,280 $369,654
$0
$736,626
3 $1,161,580 $390,115
$0
$771,465
4 $1,219,680 $411,612
$0
$808,068
5 $1,280,650 $434,171
$0
$846,479
6 $1,344,700 $457,869
$0
$886,831
7 $1,411,900 $482,733
$0
$929,167
8 $1,482,530 $508,866
$0
$973,664
9 $1,556,660 $536,295
$0
$1,020,365
10 $1,634,500 $565,095
$0
$1,069,405
11 $1,716,190 $595,321
$0
$1,120,869
12 $1,802,010 $627,074
$0
$1,174,936
13 $1,892,100 $660,407
$0
$1,231,693
14 $1,986,740 $695,424
$0
$1,291,316
15 $2,086,070 $732,176
$0
$1,353,894
16 $2,190,370 $770,767
$0
$1,419,603
17 $2,299,850 $811,275
$0
$1,488,575
18 $2,414,860 $853,829
$0
$1,561,031
19 $2,535,610 $898,506
$0
$1,637,104
20 $2,662,380 $945,411
$0
$1,716,969
21 $2,795,520 $994,673
$0
$1,800,847
22 $2,935,310 $1,046,395
$0
$1,888,915
23 $3,082,030 $1,100,681
$0
$1,981,349
24 $3,236,170 $1,157,713
$0
$2,078,457
25 $3,397,940 $1,217,568
$0
$2,180,372
26 $3,567,900 $1,280,453
$0
$2,287,447
27 $3,746,260 $1,346,447
$0
$2,399,813
28 $3,933,580 $1,415,755
$0
$2,517,825
29 $4,130,280 $1,488,534
$0
$2,641,746
30 $4,336,780 $1,564,939
$0
$2,771,841