South Carolina Lottery

SCLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 5, 2025 is estimated to be $150 Million, with a cash option of 67.9 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 5, 2025

Draw Date	Jackpot	Cash Option
Tue Aug 5, 2025	$150,000,000	$67,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$67,900,000
Federal Tax(24%)	$16,296,000
Additional Federal Tax	$8,787,330
State Tax(6.9%)	$4,685,100
Net Lumpsum Payment	$38,131,570

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,257,650	-$795,661 -$155,778	$1,306,211
2	$2,370,600	-$837,452 -$163,571	$1,369,577
3	$2,489,100	-$881,297 -$171,748	$1,436,055
4	$2,613,600	-$927,362 -$180,338	$1,505,900
5	$2,744,250	-$975,703 -$189,353	$1,579,194
6	$2,881,500	-$1,026,485 -$198,824	$1,656,191
7	$3,025,500	-$1,079,765 -$208,760	$1,736,975
8	$3,176,850	-$1,135,765 -$219,203	$1,821,882
9	$3,335,700	-$1,194,539 -$230,163	$1,910,998
10	$3,502,500	-$1,256,255 -$241,673	$2,004,572
11	$3,677,550	-$1,321,024 -$253,751	$2,102,775
12	$3,861,450	-$1,389,067 -$266,440	$2,205,943
13	$4,054,500	-$1,460,495 -$279,761	$2,314,244
14	$4,257,300	-$1,535,531 -$293,754	$2,428,015
15	$4,470,150	-$1,614,286 -$308,440	$2,547,424
16	$4,693,650	-$1,696,981 -$323,862	$2,672,807
17	$4,928,250	-$1,783,783 -$340,049	$2,804,418
18	$5,174,700	-$1,874,969 -$357,054	$2,942,677
19	$5,433,450	-$1,970,707 -$374,908	$3,087,835
20	$5,705,100	-$2,071,217 -$393,652	$3,240,231
21	$5,990,400	-$2,176,778 -$413,338	$3,400,284
22	$6,289,950	-$2,287,612 -$434,007	$3,568,331
23	$6,604,350	-$2,403,940 -$455,700	$3,744,710
24	$6,934,650	-$2,526,151 -$478,491	$3,930,008
25	$7,281,300	-$2,654,411 -$502,410	$4,124,479
26	$7,645,500	-$2,789,165 -$527,540	$4,328,795
27	$8,027,700	-$2,930,579 -$553,911	$4,543,210
28	$8,429,100	-$3,079,097 -$581,608	$4,768,395
29	$8,850,600	-$3,235,052 -$610,691	$5,004,857
30	$9,293,100	-$3,398,777 -$641,224	$5,253,099