The jackpot for the MEGA Millions draw on Tue Apr 29, 2025, is projected to be $70 Million, with an option for a cash payout of $31.8 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 29, 2025 |
|---|
| Draw Date | Tue Apr 29, 2025 | | Projected Jackpot | $70,000,000 | | Cash Value | $31,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $31,800,000 | | Federal Tax(24%) | $7,632,000 | | Additional Federal Tax | $4,094,330 | | State Tax(6.9%) | $2,194,200 | | Net Lumpsum Payment | $17,879,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,053,570 |
$350,151
$72,696 |
$630,723 |
| 2 |
$1,106,280 |
$369,654
$76,333 |
$660,293 |
| 3 |
$1,161,580 |
$390,115
$80,149 |
$691,316 |
| 4 |
$1,219,680 |
$411,612
$84,158 |
$723,910 |
| 5 |
$1,280,650 |
$434,171
$88,365 |
$758,114 |
| 6 |
$1,344,700 |
$457,869
$92,784 |
$794,047 |
| 7 |
$1,411,900 |
$482,733
$97,421 |
$831,746 |
| 8 |
$1,482,530 |
$508,866
$102,295 |
$871,369 |
| 9 |
$1,556,660 |
$536,295
$107,410 |
$912,955 |
| 10 |
$1,634,500 |
$565,095
$112,781 |
$956,624 |
| 11 |
$1,716,190 |
$595,321
$118,417 |
$1,002,452 |
| 12 |
$1,802,010 |
$627,074
$124,339 |
$1,050,597 |
| 13 |
$1,892,100 |
$660,407
$130,555 |
$1,101,138 |
| 14 |
$1,986,740 |
$695,424
$137,085 |
$1,154,231 |
| 15 |
$2,086,070 |
$732,176
$143,939 |
$1,209,955 |
| 16 |
$2,190,370 |
$770,767
$151,136 |
$1,268,467 |
| 17 |
$2,299,850 |
$811,275
$158,690 |
$1,329,885 |
| 18 |
$2,414,860 |
$853,829
$166,625 |
$1,394,406 |
| 19 |
$2,535,610 |
$898,506
$174,957 |
$1,462,147 |
| 20 |
$2,662,380 |
$945,411
$183,704 |
$1,533,265 |
| 21 |
$2,795,520 |
$994,673
$192,891 |
$1,607,956 |
| 22 |
$2,935,310 |
$1,046,395
$202,536 |
$1,686,379 |
| 23 |
$3,082,030 |
$1,100,681
$212,660 |
$1,768,689 |
| 24 |
$3,236,170 |
$1,157,713
$223,296 |
$1,855,161 |
| 25 |
$3,397,940 |
$1,217,568
$234,458 |
$1,945,914 |
| 26 |
$3,567,900 |
$1,280,453
$246,185 |
$2,041,262 |
| 27 |
$3,746,260 |
$1,346,447
$258,492 |
$2,141,321 |
| 28 |
$3,933,580 |
$1,415,755
$271,417 |
$2,246,408 |
| 29 |
$4,130,280 |
$1,488,534
$284,989 |
$2,356,757 |
| 30 |
$4,336,780 |
$1,564,939
$299,238 |
$2,472,603 |
|
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