The jackpot for the MEGA Millions draw on Fri Nov 22, 2024, is projected to be $453 Million, with an option for a cash payout of $209.6 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 Nov 22, 2024 |
|---|
| Draw Date | Fri Nov 22, 2024 | | Projected Jackpot | $453,000,000 | | Cash Value | $209,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $209,600,000 | | Federal Tax(24%) | $50,304,000 | | Additional Federal Tax | $27,208,330 | | State Tax(6.9%) | $14,462,400 | | Net Lumpsum Payment | $117,625,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,818,103 |
$2,483,028
$470,449 |
$3,864,626 |
| 2 |
$7,159,212 |
$2,609,239
$493,986 |
$4,055,987 |
| 3 |
$7,517,082 |
$2,741,651
$518,679 |
$4,256,752 |
| 4 |
$7,893,072 |
$2,880,767
$544,622 |
$4,467,683 |
| 5 |
$8,287,635 |
$3,026,755
$571,847 |
$4,689,033 |
| 6 |
$8,702,130 |
$3,180,118
$600,447 |
$4,921,565 |
| 7 |
$9,137,010 |
$3,341,024
$630,454 |
$5,165,532 |
| 8 |
$9,594,087 |
$3,510,143
$661,992 |
$5,421,952 |
| 9 |
$10,073,814 |
$3,687,642
$695,093 |
$5,691,079 |
| 10 |
$10,577,550 |
$3,874,024
$729,851 |
$5,973,675 |
| 11 |
$11,106,201 |
$4,069,625
$766,328 |
$6,270,248 |
| 12 |
$11,661,579 |
$4,275,115
$804,649 |
$6,581,815 |
| 13 |
$12,244,590 |
$4,490,829
$844,877 |
$6,908,884 |
| 14 |
$12,857,046 |
$4,717,437
$887,136 |
$7,252,473 |
| 15 |
$13,499,853 |
$4,955,276
$931,490 |
$7,613,087 |
| 16 |
$14,174,823 |
$5,205,015
$978,063 |
$7,991,745 |
| 17 |
$14,883,315 |
$5,467,157
$1,026,949 |
$8,389,209 |
| 18 |
$15,627,594 |
$5,742,540
$1,078,304 |
$8,806,750 |
| 19 |
$16,409,019 |
$6,031,667
$1,132,222 |
$9,245,130 |
| 20 |
$17,229,402 |
$6,335,209
$1,188,829 |
$9,705,364 |
| 21 |
$18,091,008 |
$6,654,003
$1,248,280 |
$10,188,725 |
| 22 |
$18,995,649 |
$6,988,721
$1,310,700 |
$10,696,228 |
| 23 |
$19,945,137 |
$7,340,031
$1,376,214 |
$11,228,892 |
| 24 |
$20,942,643 |
$7,709,108
$1,445,042 |
$11,788,493 |
| 25 |
$21,989,526 |
$8,096,455
$1,517,277 |
$12,375,794 |
| 26 |
$23,089,410 |
$8,503,412
$1,593,169 |
$12,992,829 |
| 27 |
$24,243,654 |
$8,930,482
$1,672,812 |
$13,640,360 |
| 28 |
$25,455,882 |
$9,379,007
$1,756,456 |
$14,320,419 |
| 29 |
$26,728,812 |
$9,849,991
$1,844,288 |
$15,034,533 |
| 30 |
$28,065,162 |
$10,344,440
$1,936,496 |
$15,784,226 |
|
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