South Carolina Lottery

SCLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Mar 11, 2025 is estimated to be $256 Million, with a cash option of 119.5 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 Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

South Carolina MEGA Millions Jackpot/Cash Option for Tue Mar 11, 2025

Draw Date	Jackpot	Cash Option
Tue Mar 11, 2025	$256,000,000	$119,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$119,500,000
Federal Tax(24%)	$28,680,000
Additional Federal Tax	$15,495,330
State Tax(6.9%)	$8,245,500
Net Lumpsum Payment	$67,079,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,853,056	-$1,385,961 -$265,861	$2,201,234
2	$4,045,824	-$1,457,285 -$279,162	$2,309,377
3	$4,248,064	-$1,532,114 -$293,116	$2,422,834
4	$4,460,544	-$1,610,732 -$307,778	$2,542,034
5	$4,683,520	-$1,693,233 -$323,163	$2,667,124
6	$4,917,760	-$1,779,902 -$339,325	$2,798,533
7	$5,163,520	-$1,870,833 -$356,283	$2,936,404
8	$5,421,824	-$1,966,405 -$374,106	$3,081,313
9	$5,692,928	-$2,066,714 -$392,812	$3,233,402
10	$5,977,600	-$2,172,042 -$412,454	$3,393,104
11	$6,276,352	-$2,282,581 -$433,068	$3,560,703
12	$6,590,208	-$2,398,707 -$454,724	$3,736,777
13	$6,919,680	-$2,520,612 -$477,458	$3,921,610
14	$7,265,792	-$2,648,673 -$501,340	$4,115,779
15	$7,629,056	-$2,783,081 -$526,405	$4,319,570
16	$8,010,496	-$2,924,214 -$552,724	$4,533,558
17	$8,410,880	-$3,072,356 -$580,351	$4,758,173
18	$8,831,488	-$3,227,981 -$609,373	$4,994,134
19	$9,273,088	-$3,391,373 -$639,843	$5,241,872
20	$9,736,704	-$3,562,911 -$671,833	$5,501,960
21	$10,223,616	-$3,743,068 -$705,430	$5,775,118
22	$10,734,848	-$3,932,224 -$740,705	$6,061,919
23	$11,271,424	-$4,130,757 -$777,728	$6,362,939
24	$11,835,136	-$4,339,331 -$816,624	$6,679,181
25	$12,426,752	-$4,558,229 -$857,446	$7,011,077
26	$13,048,320	-$4,788,209 -$900,334	$7,359,777
27	$13,700,608	-$5,029,555 -$945,342	$7,725,711
28	$14,385,664	-$5,283,026 -$992,611	$8,110,027
29	$15,105,024	-$5,549,189 -$1,042,247	$8,513,588
30	$15,860,224	-$5,828,613 -$1,094,355	$8,937,256