The jackpot for the MEGA Millions draw on Tue Feb 25, 2025, is projected to be $181 Million, with an option for a cash payout of $82.7 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 Feb 25, 2025 |
|---|
| Draw Date | Tue Feb 25, 2025 | | Projected Jackpot | $181,000,000 | | Cash Value | $82,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $82,700,000 | | Federal Tax(24%) | $19,848,000 | | Additional Federal Tax | $10,711,330 | | State Tax(6.9%) | $5,706,300 | | Net Lumpsum Payment | $46,434,370 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,724,231 |
$968,296
$187,972 |
$1,567,963 |
| 2 |
$2,860,524 |
$1,018,724
$197,376 |
$1,644,424 |
| 3 |
$3,003,514 |
$1,071,631
$207,242 |
$1,724,641 |
| 4 |
$3,153,744 |
$1,127,216
$217,608 |
$1,808,920 |
| 5 |
$3,311,395 |
$1,185,547
$228,486 |
$1,897,362 |
| 6 |
$3,477,010 |
$1,246,824
$239,914 |
$1,990,272 |
| 7 |
$3,650,770 |
$1,311,115
$251,903 |
$2,087,752 |
| 8 |
$3,833,399 |
$1,378,688
$264,505 |
$2,190,206 |
| 9 |
$4,025,078 |
$1,449,609
$277,730 |
$2,297,739 |
| 10 |
$4,226,350 |
$1,524,080
$291,618 |
$2,410,652 |
| 11 |
$4,437,577 |
$1,602,234
$306,193 |
$2,529,150 |
| 12 |
$4,659,483 |
$1,684,339
$321,504 |
$2,653,640 |
| 13 |
$4,892,430 |
$1,770,529
$337,578 |
$2,784,323 |
| 14 |
$5,137,142 |
$1,861,073
$354,463 |
$2,921,606 |
| 15 |
$5,393,981 |
$1,956,103
$372,185 |
$3,065,693 |
| 16 |
$5,663,671 |
$2,055,889
$390,793 |
$3,216,989 |
| 17 |
$5,946,755 |
$2,160,630
$410,326 |
$3,375,799 |
| 18 |
$6,244,138 |
$2,270,661
$430,846 |
$3,542,631 |
| 19 |
$6,556,363 |
$2,386,185
$452,389 |
$3,717,789 |
| 20 |
$6,884,154 |
$2,507,467
$475,007 |
$3,901,680 |
| 21 |
$7,228,416 |
$2,634,844
$498,761 |
$4,094,811 |
| 22 |
$7,589,873 |
$2,768,583
$523,701 |
$4,297,589 |
| 23 |
$7,969,249 |
$2,908,953
$549,878 |
$4,510,418 |
| 24 |
$8,367,811 |
$3,056,420
$577,379 |
$4,734,012 |
| 25 |
$8,786,102 |
$3,211,188
$606,241 |
$4,968,673 |
| 26 |
$9,225,570 |
$3,373,791
$636,564 |
$5,215,215 |
| 27 |
$9,686,758 |
$3,544,431
$668,386 |
$5,473,941 |
| 28 |
$10,171,114 |
$3,723,643
$701,807 |
$5,745,664 |
| 29 |
$10,679,724 |
$3,911,828
$736,901 |
$6,030,995 |
| 30 |
$11,213,674 |
$4,109,390
$773,744 |
$6,330,540 |
|
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