The jackpot for the MEGA Millions draw on Fri Nov 15, 2024, is projected to be $387 Million, with an option for a cash payout of $181.4 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 15, 2024 |
|---|
| Draw Date | Fri Nov 15, 2024 | | Projected Jackpot | $387,000,000 | | Cash Value | $181,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $181,400,000 | | Federal Tax(24%) | $43,536,000 | | Additional Federal Tax | $23,542,330 | | State Tax(6.9%) | $12,516,600 | | Net Lumpsum Payment | $101,805,070 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,824,737 |
$2,115,483
$401,907 |
$3,307,347 |
| 2 |
$6,116,148 |
$2,223,305
$422,014 |
$3,470,829 |
| 3 |
$6,421,878 |
$2,336,425
$443,110 |
$3,642,343 |
| 4 |
$6,743,088 |
$2,455,273
$465,273 |
$3,822,542 |
| 5 |
$7,080,165 |
$2,579,991
$488,531 |
$4,011,643 |
| 6 |
$7,434,270 |
$2,711,010
$512,965 |
$4,210,295 |
| 7 |
$7,805,790 |
$2,848,473
$538,600 |
$4,418,717 |
| 8 |
$8,196,273 |
$2,992,951
$565,543 |
$4,637,779 |
| 9 |
$8,606,106 |
$3,144,590
$593,821 |
$4,867,695 |
| 10 |
$9,036,450 |
$3,303,817
$623,515 |
$5,109,118 |
| 11 |
$9,488,079 |
$3,470,920
$654,677 |
$5,362,482 |
| 12 |
$9,962,541 |
$3,646,471
$687,415 |
$5,628,655 |
| 13 |
$10,460,610 |
$3,830,756
$721,782 |
$5,908,072 |
| 14 |
$10,983,834 |
$4,024,349
$757,885 |
$6,201,600 |
| 15 |
$11,532,987 |
$4,227,536
$795,776 |
$6,509,675 |
| 16 |
$12,109,617 |
$4,440,889
$835,564 |
$6,833,164 |
| 17 |
$12,714,885 |
$4,664,838
$877,327 |
$7,172,720 |
| 18 |
$13,350,726 |
$4,900,099
$921,200 |
$7,529,427 |
| 19 |
$14,018,301 |
$5,147,102
$967,263 |
$7,903,936 |
| 20 |
$14,719,158 |
$5,406,419
$1,015,622 |
$8,297,117 |
| 21 |
$15,455,232 |
$5,678,766
$1,066,411 |
$8,710,055 |
| 22 |
$16,228,071 |
$5,964,717
$1,119,737 |
$9,143,617 |
| 23 |
$17,039,223 |
$6,264,843
$1,175,706 |
$9,598,674 |
| 24 |
$17,891,397 |
$6,580,147
$1,234,506 |
$10,076,744 |
| 25 |
$18,785,754 |
$6,911,059
$1,296,217 |
$10,578,478 |
| 26 |
$19,725,390 |
$7,258,725
$1,361,052 |
$11,105,613 |
| 27 |
$20,711,466 |
$7,623,573
$1,429,091 |
$11,658,802 |
| 28 |
$21,747,078 |
$8,006,749
$1,500,548 |
$12,239,781 |
| 29 |
$22,834,548 |
$8,409,113
$1,575,584 |
$12,849,851 |
| 30 |
$23,976,198 |
$8,831,524
$1,654,358 |
$13,490,316 |
|
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