The jackpot for the MEGA Millions draw on Tue Apr 1, 2025, is projected to be $29 Million, with an option for a cash payout of $13.3 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 Tue Apr 1, 2025 |
|---|
| Draw Date | Tue Apr 1, 2025 | | Projected Jackpot | $29,000,000 | | Cash Value | $13,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $13,300,000 | | Federal Tax(24%) | $3,192,000 | | Additional Federal Tax | $1,689,330 | | State Tax(6.9%) | $917,700 | | Net Lumpsum Payment | $7,500,970 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$436,479 |
$121,828
$30,117 |
$284,534 |
| 2 |
$458,316 |
$129,907
$31,624 |
$296,785 |
| 3 |
$481,226 |
$138,384
$33,205 |
$309,637 |
| 4 |
$505,296 |
$147,290
$34,865 |
$323,141 |
| 5 |
$530,555 |
$156,636
$36,608 |
$337,311 |
| 6 |
$557,090 |
$166,454
$38,439 |
$352,197 |
| 7 |
$584,930 |
$176,754
$40,360 |
$367,816 |
| 8 |
$614,191 |
$187,581
$42,379 |
$384,231 |
| 9 |
$644,902 |
$198,944
$44,498 |
$401,460 |
| 10 |
$677,150 |
$210,876
$46,723 |
$419,551 |
| 11 |
$710,993 |
$223,398
$49,059 |
$438,536 |
| 12 |
$746,547 |
$236,553
$51,512 |
$458,482 |
| 13 |
$783,870 |
$250,362
$54,087 |
$479,421 |
| 14 |
$823,078 |
$264,869
$56,792 |
$501,417 |
| 15 |
$864,229 |
$280,095
$59,632 |
$524,502 |
| 16 |
$907,439 |
$296,083
$62,613 |
$548,743 |
| 17 |
$952,795 |
$312,865
$65,743 |
$574,187 |
| 18 |
$1,000,442 |
$330,494
$69,030 |
$600,918 |
| 19 |
$1,050,467 |
$349,003
$72,482 |
$628,982 |
| 20 |
$1,102,986 |
$368,435
$76,106 |
$658,445 |
| 21 |
$1,158,144 |
$388,844
$79,912 |
$689,388 |
| 22 |
$1,216,057 |
$410,271
$83,908 |
$721,878 |
| 23 |
$1,276,841 |
$432,762
$88,102 |
$755,977 |
| 24 |
$1,340,699 |
$456,389
$92,508 |
$791,802 |
| 25 |
$1,407,718 |
$481,186
$97,133 |
$829,399 |
| 26 |
$1,478,130 |
$507,238
$101,991 |
$868,901 |
| 27 |
$1,552,022 |
$534,579
$107,090 |
$910,353 |
| 28 |
$1,629,626 |
$563,292
$112,444 |
$953,890 |
| 29 |
$1,711,116 |
$593,443
$118,067 |
$999,606 |
| 30 |
$1,796,666 |
$625,097
$123,970 |
$1,047,599 |
|
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