South Carolina Lottery

SCLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 25, 2026 is estimated to be $130 Million, with a cash option of 55.5 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 Aug 25, 2026

Draw Date	Jackpot	Cash Option
Tue Aug 25, 2026	$130,000,000	$55,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$55,500,000
Federal Tax(24%)	$13,320,000
Additional Federal Tax	$7,175,330
State Tax(6.9%)	$3,829,500
Net Lumpsum Payment	$31,175,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,956,630	-$684,283 -$135,007	$1,137,340
2	$2,054,520	-$720,503 -$141,762	$1,192,255
3	$2,157,220	-$758,502 -$148,848	$1,249,870
4	$2,265,120	-$798,425 -$156,293	$1,310,402
5	$2,378,350	-$840,320 -$164,106	$1,373,924
6	$2,497,300	-$884,331 -$172,314	$1,440,655
7	$2,622,100	-$930,507 -$180,925	$1,510,668
8	$2,753,270	-$979,040 -$189,976	$1,584,254
9	$2,890,940	-$1,029,978 -$199,475	$1,661,487
10	$3,035,500	-$1,083,465 -$209,450	$1,742,585
11	$3,187,210	-$1,139,598 -$219,917	$1,827,695
12	$3,346,590	-$1,198,569 -$230,915	$1,917,106
13	$3,513,900	-$1,260,473 -$242,459	$2,010,968
14	$3,689,660	-$1,325,505 -$254,587	$2,109,568
15	$3,874,130	-$1,393,758 -$267,315	$2,213,057
16	$4,067,830	-$1,465,427 -$280,680	$2,321,723
17	$4,271,150	-$1,540,656 -$294,709	$2,435,785
18	$4,484,740	-$1,619,684 -$309,447	$2,555,609
19	$4,708,990	-$1,702,657 -$324,920	$2,681,413
20	$4,944,420	-$1,789,766 -$341,165	$2,813,489
21	$5,191,680	-$1,881,252 -$358,226	$2,952,202
22	$5,451,290	-$1,977,308 -$376,139	$3,097,843
23	$5,723,770	-$2,078,125 -$394,940	$3,250,705
24	$6,010,030	-$2,184,041 -$414,692	$3,411,297
25	$6,310,460	-$2,295,201 -$435,422	$3,579,837
26	$6,626,100	-$2,411,987 -$457,201	$3,756,912
27	$6,957,340	-$2,534,546 -$480,056	$3,942,738
28	$7,305,220	-$2,663,262 -$504,060	$4,137,898
29	$7,670,520	-$2,798,423 -$529,266	$4,342,831
30	$8,054,020	-$2,940,318 -$555,727	$4,557,975