South Carolina Lottery

SCLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jun 17, 2025 is estimated to be $280 Million, with a cash option of 126.1 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 Jun 17, 2025

Draw Date	Jackpot	Cash Option
Tue Jun 17, 2025	$280,000,000	$126,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$126,100,000
Federal Tax(24%)	$30,264,000
Additional Federal Tax	$16,353,330
State Tax(6.9%)	$8,700,900
Net Lumpsum Payment	$70,781,770

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,214,280	-$1,519,614 -$290,785	$2,403,881
2	$4,425,120	-$1,597,625 -$305,333	$2,522,162
3	$4,646,320	-$1,679,469 -$320,596	$2,646,255
4	$4,878,720	-$1,765,457 -$336,632	$2,776,631
5	$5,122,600	-$1,855,692 -$353,459	$2,913,449
6	$5,378,800	-$1,950,486 -$371,137	$3,057,177
7	$5,647,600	-$2,049,942 -$389,684	$3,207,974
8	$5,930,120	-$2,154,475 -$409,178	$3,366,467
9	$6,226,640	-$2,264,187 -$429,638	$3,532,815
10	$6,538,000	-$2,379,390 -$451,122	$3,707,488
11	$6,864,760	-$2,500,292 -$473,668	$3,890,800
12	$7,208,040	-$2,627,305 -$497,355	$4,083,380
13	$7,568,400	-$2,760,638 -$522,220	$4,285,542
14	$7,946,960	-$2,900,706 -$548,340	$4,497,914
15	$8,344,280	-$3,047,714 -$575,755	$4,720,811
16	$8,761,480	-$3,202,078 -$604,542	$4,954,860
17	$9,199,400	-$3,364,108 -$634,759	$5,200,533
18	$9,659,440	-$3,534,323 -$666,501	$5,458,616
19	$10,142,440	-$3,713,033 -$699,828	$5,729,579
20	$10,649,520	-$3,900,653 -$734,817	$6,014,050
21	$11,182,080	-$4,097,700 -$771,564	$6,312,816
22	$11,741,240	-$4,304,589 -$810,146	$6,626,505
23	$12,328,120	-$4,521,735 -$850,640	$6,955,745
24	$12,944,680	-$4,749,862 -$893,183	$7,301,635
25	$13,591,760	-$4,989,282 -$937,831	$7,664,647
26	$14,271,600	-$5,240,822 -$984,740	$8,046,038
27	$14,985,040	-$5,504,795 -$1,033,968	$8,446,277
28	$15,734,320	-$5,782,029 -$1,085,668	$8,866,623
29	$16,521,120	-$6,073,145 -$1,139,957	$9,308,018
30	$17,347,120	-$6,378,765 -$1,196,951	$9,771,404