South Carolina Lottery

SCLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 4, 2026 is estimated to be $60 Million, with a cash option of 25.5 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 4, 2026

Draw Date	Jackpot	Cash Option
Tue Aug 4, 2026	$60,000,000	$25,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$25,500,000
Federal Tax(24%)	$6,120,000
Additional Federal Tax	$3,275,330
State Tax(6.9%)	$1,759,500
Net Lumpsum Payment	$14,345,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$903,060	-$294,463 -$62,311	$546,286
2	$948,240	-$311,179 -$65,429	$571,632
3	$995,640	-$328,717 -$68,699	$598,224
4	$1,045,440	-$347,143 -$72,135	$626,162
5	$1,097,700	-$366,479 -$75,741	$655,480
6	$1,152,600	-$386,792 -$79,529	$686,279
7	$1,210,200	-$408,104 -$83,504	$718,592
8	$1,270,740	-$430,504 -$87,681	$752,555
9	$1,334,280	-$454,014 -$92,065	$788,201
10	$1,401,000	-$478,700 -$96,669	$825,631
11	$1,471,020	-$504,608 -$101,500	$864,912
12	$1,544,580	-$531,825 -$106,576	$906,179
13	$1,621,800	-$560,396 -$111,904	$949,500
14	$1,702,920	-$590,411 -$117,501	$995,008
15	$1,788,060	-$621,913 -$123,376	$1,042,771
16	$1,877,460	-$654,991 -$129,545	$1,092,924
17	$1,971,300	-$689,711 -$136,020	$1,145,569
18	$2,069,880	-$726,186 -$142,822	$1,200,872
19	$2,173,380	-$764,481 -$149,963	$1,258,936
20	$2,282,040	-$804,685 -$157,461	$1,319,894
21	$2,396,160	-$846,910 -$165,335	$1,383,915
22	$2,515,980	-$891,243 -$173,603	$1,451,134
23	$2,641,740	-$937,774 -$182,280	$1,521,686
24	$2,773,860	-$986,659 -$191,396	$1,595,805
25	$2,912,520	-$1,037,963 -$200,964	$1,673,593
26	$3,058,200	-$1,091,864 -$211,016	$1,755,320
27	$3,211,080	-$1,148,430 -$221,565	$1,841,085
28	$3,371,640	-$1,207,837 -$232,643	$1,931,160
29	$3,540,240	-$1,270,219 -$244,277	$2,025,744
30	$3,717,240	-$1,335,709 -$256,490	$2,125,041