South Carolina Lottery

SCLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Apr 29, 2025 is estimated to be $70 Million, with a cash option of 31.8 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 Apr 29, 2025

Draw Date	Jackpot	Cash Option
Tue Apr 29, 2025	$70,000,000	$31,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$31,800,000
Federal Tax(24%)	$7,632,000
Additional Federal Tax	$4,094,330
State Tax(6.9%)	$2,194,200
Net Lumpsum Payment	$17,879,470

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,053,570	-$350,151 -$72,696	$630,723
2	$1,106,280	-$369,654 -$76,333	$660,293
3	$1,161,580	-$390,115 -$80,149	$691,316
4	$1,219,680	-$411,612 -$84,158	$723,910
5	$1,280,650	-$434,171 -$88,365	$758,114
6	$1,344,700	-$457,869 -$92,784	$794,047
7	$1,411,900	-$482,733 -$97,421	$831,746
8	$1,482,530	-$508,866 -$102,295	$871,369
9	$1,556,660	-$536,295 -$107,410	$912,955
10	$1,634,500	-$565,095 -$112,781	$956,624
11	$1,716,190	-$595,321 -$118,417	$1,002,452
12	$1,802,010	-$627,074 -$124,339	$1,050,597
13	$1,892,100	-$660,407 -$130,555	$1,101,138
14	$1,986,740	-$695,424 -$137,085	$1,154,231
15	$2,086,070	-$732,176 -$143,939	$1,209,955
16	$2,190,370	-$770,767 -$151,136	$1,268,467
17	$2,299,850	-$811,275 -$158,690	$1,329,885
18	$2,414,860	-$853,829 -$166,625	$1,394,406
19	$2,535,610	-$898,506 -$174,957	$1,462,147
20	$2,662,380	-$945,411 -$183,704	$1,533,265
21	$2,795,520	-$994,673 -$192,891	$1,607,956
22	$2,935,310	-$1,046,395 -$202,536	$1,686,379
23	$3,082,030	-$1,100,681 -$212,660	$1,768,689
24	$3,236,170	-$1,157,713 -$223,296	$1,855,161
25	$3,397,940	-$1,217,568 -$234,458	$1,945,914
26	$3,567,900	-$1,280,453 -$246,185	$2,041,262
27	$3,746,260	-$1,346,447 -$258,492	$2,141,321
28	$3,933,580	-$1,415,755 -$271,417	$2,246,408
29	$4,130,280	-$1,488,534 -$284,989	$2,356,757
30	$4,336,780	-$1,564,939 -$299,238	$2,472,603