South Carolina Lottery

SCLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue May 12, 2026 is estimated to be $232 Million, with a cash option of 103.8 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 May 12, 2026

Draw Date	Jackpot	Cash Option
Tue May 12, 2026	$232,000,000	$103,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$103,800,000
Federal Tax(24%)	$24,912,000
Additional Federal Tax	$13,454,330
State Tax(6.9%)	$7,162,200
Net Lumpsum Payment	$58,271,470

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,491,832	-$1,252,308 -$240,936	$1,998,588
2	$3,666,528	-$1,316,946 -$252,990	$2,096,592
3	$3,849,808	-$1,384,759 -$265,637	$2,199,412
4	$4,042,368	-$1,456,007 -$278,923	$2,307,438
5	$4,244,440	-$1,530,773 -$292,866	$2,420,801
6	$4,456,720	-$1,609,317 -$307,514	$2,539,889
7	$4,679,440	-$1,691,723 -$322,881	$2,664,836
8	$4,913,528	-$1,778,336 -$339,033	$2,796,159
9	$5,159,216	-$1,869,240 -$355,986	$2,933,990
10	$5,417,200	-$1,964,694 -$373,787	$3,078,719
11	$5,687,944	-$2,064,870 -$392,468	$3,230,606
12	$5,972,376	-$2,170,110 -$412,094	$3,390,172
13	$6,270,960	-$2,280,586 -$432,696	$3,557,678
14	$6,584,624	-$2,396,641 -$454,339	$3,733,644
15	$6,913,832	-$2,518,448 -$477,054	$3,918,330
16	$7,259,512	-$2,646,350 -$500,906	$4,112,256
17	$7,622,360	-$2,780,604 -$525,943	$4,315,813
18	$8,003,536	-$2,921,639 -$552,244	$4,529,653
19	$8,403,736	-$3,069,713 -$579,858	$4,754,165
20	$8,823,888	-$3,225,169 -$608,848	$4,989,871
21	$9,265,152	-$3,388,437 -$639,295	$5,237,420
22	$9,728,456	-$3,559,859 -$671,263	$5,497,334
23	$10,214,728	-$3,739,780 -$704,816	$5,770,132
24	$10,725,592	-$3,928,799 -$740,066	$6,056,727
25	$11,261,744	-$4,127,176 -$777,060	$6,357,508
26	$11,825,040	-$4,335,595 -$815,928	$6,673,517
27	$12,416,176	-$4,554,316 -$856,716	$7,005,144
28	$13,037,008	-$4,784,023 -$899,554	$7,353,431
29	$13,688,928	-$5,025,234 -$944,536	$7,719,158
30	$14,373,328	-$5,278,462 -$991,760	$8,103,106