The jackpot for the MEGA Millions draw on Fri Aug 8, 2025, is projected to be $166 Million, with an option for a cash payout of $75.2 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For South Carolina residents, the state will deduct 6.9% from your lottery earnings.
| South Carolina MEGA Millions Jackpot/Cash Option for Fri Aug 8, 2025 |
|---|
| Draw Date | Fri Aug 8, 2025 | | Projected Jackpot | $166,000,000 | | Cash Value | $75,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $75,200,000 | | Federal Tax(24%) | $18,048,000 | | Additional Federal Tax | $9,736,330 | | State Tax(6.9%) | $5,188,800 | | Net Lumpsum Payment | $42,226,870 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,498,466 |
$884,763
$172,394 |
$1,441,309 |
| 2 |
$2,623,464 |
$931,012
$181,019 |
$1,511,433 |
| 3 |
$2,754,604 |
$979,534
$190,068 |
$1,585,002 |
| 4 |
$2,892,384 |
$1,030,512
$199,574 |
$1,662,298 |
| 5 |
$3,036,970 |
$1,084,009
$209,551 |
$1,743,410 |
| 6 |
$3,188,860 |
$1,140,209
$220,031 |
$1,828,620 |
| 7 |
$3,348,220 |
$1,199,172
$231,027 |
$1,918,021 |
| 8 |
$3,515,714 |
$1,261,145
$242,584 |
$2,011,985 |
| 9 |
$3,691,508 |
$1,326,188
$254,714 |
$2,110,606 |
| 10 |
$3,876,100 |
$1,394,487
$267,451 |
$2,214,162 |
| 11 |
$4,069,822 |
$1,466,165
$280,818 |
$2,322,839 |
| 12 |
$4,273,338 |
$1,541,465
$294,860 |
$2,437,013 |
| 13 |
$4,486,980 |
$1,620,513
$309,602 |
$2,556,865 |
| 14 |
$4,711,412 |
$1,703,553
$325,087 |
$2,682,772 |
| 15 |
$4,946,966 |
$1,790,708
$341,341 |
$2,814,917 |
| 16 |
$5,194,306 |
$1,882,224
$358,407 |
$2,953,675 |
| 17 |
$5,453,930 |
$1,978,284
$376,321 |
$3,099,325 |
| 18 |
$5,726,668 |
$2,079,198
$395,140 |
$3,252,330 |
| 19 |
$6,013,018 |
$2,185,147
$414,898 |
$3,412,973 |
| 20 |
$6,313,644 |
$2,296,379
$435,641 |
$3,581,624 |
| 21 |
$6,629,376 |
$2,413,200
$457,427 |
$3,758,749 |
| 22 |
$6,960,878 |
$2,535,855
$480,301 |
$3,944,722 |
| 23 |
$7,308,814 |
$2,664,592
$504,308 |
$4,139,914 |
| 24 |
$7,674,346 |
$2,799,838
$529,530 |
$4,344,978 |
| 25 |
$8,057,972 |
$2,941,780
$556,000 |
$4,560,192 |
| 26 |
$8,461,020 |
$3,090,908
$583,810 |
$4,786,302 |
| 27 |
$8,883,988 |
$3,247,406
$612,995 |
$5,023,587 |
| 28 |
$9,328,204 |
$3,411,766
$643,646 |
$5,272,792 |
| 29 |
$9,794,664 |
$3,584,356
$675,832 |
$5,534,476 |
| 30 |
$10,284,364 |
$3,765,545
$709,621 |
$5,809,198 |
|
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