The jackpot for the MEGA Millions draw on Fri Aug 29, 2025, is projected to be $277 Million, with an option for a cash payout of $124.6 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 29, 2025 |
|---|
| Draw Date | Fri Aug 29, 2025 | | Projected Jackpot | $277,000,000 | | Cash Value | $124,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $124,600,000 | | Federal Tax(24%) | $29,904,000 | | Additional Federal Tax | $16,158,330 | | State Tax(6.9%) | $8,597,400 | | Net Lumpsum Payment | $69,940,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,169,127 |
$1,502,907
$287,670 |
$2,378,550 |
| 2 |
$4,377,708 |
$1,580,082
$302,062 |
$2,495,564 |
| 3 |
$4,596,538 |
$1,661,049
$317,161 |
$2,618,328 |
| 4 |
$4,826,448 |
$1,746,116
$333,025 |
$2,747,307 |
| 5 |
$5,067,715 |
$1,835,385
$349,672 |
$2,882,658 |
| 6 |
$5,321,170 |
$1,929,163
$367,161 |
$3,024,846 |
| 7 |
$5,587,090 |
$2,027,554
$385,509 |
$3,174,027 |
| 8 |
$5,866,583 |
$2,130,966
$404,794 |
$3,330,823 |
| 9 |
$6,159,926 |
$2,239,503
$425,035 |
$3,495,388 |
| 10 |
$6,467,950 |
$2,353,472
$446,289 |
$3,668,189 |
| 11 |
$6,791,209 |
$2,473,078
$468,593 |
$3,849,538 |
| 12 |
$7,130,811 |
$2,598,730
$492,026 |
$4,040,055 |
| 13 |
$7,487,310 |
$2,730,635
$516,624 |
$4,240,051 |
| 14 |
$7,861,814 |
$2,869,202
$542,465 |
$4,450,147 |
| 15 |
$8,254,877 |
$3,014,635
$569,587 |
$4,670,655 |
| 16 |
$8,667,607 |
$3,167,345
$598,065 |
$4,902,197 |
| 17 |
$9,100,835 |
$3,327,639
$627,958 |
$5,145,238 |
| 18 |
$9,555,946 |
$3,496,030
$659,360 |
$5,400,556 |
| 19 |
$10,033,771 |
$3,672,826
$692,330 |
$5,668,615 |
| 20 |
$10,535,418 |
$3,858,435
$726,944 |
$5,950,039 |
| 21 |
$11,062,272 |
$4,053,371
$763,297 |
$6,245,604 |
| 22 |
$11,615,441 |
$4,258,044
$801,465 |
$6,555,932 |
| 23 |
$12,196,033 |
$4,472,863
$841,526 |
$6,881,644 |
| 24 |
$12,805,987 |
$4,698,546
$883,613 |
$7,223,828 |
| 25 |
$13,446,134 |
$4,935,400
$927,783 |
$7,582,951 |
| 26 |
$14,118,690 |
$5,184,246
$974,190 |
$7,960,254 |
| 27 |
$14,824,486 |
$5,445,390
$1,022,890 |
$8,356,206 |
| 28 |
$15,565,738 |
$5,719,653
$1,074,036 |
$8,772,049 |
| 29 |
$16,344,108 |
$6,007,650
$1,127,743 |
$9,208,715 |
| 30 |
$17,161,258 |
$6,309,996
$1,184,127 |
$9,667,135 |
|
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