The jackpot for the MEGA Millions draw on Tue Jan 20, 2026, is projected to be $250 Million, with an option for a cash payout of $113.5 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 Jan 20, 2026 |
|---|
| Draw Date | Tue Jan 20, 2026 | | Projected Jackpot | $250,000,000 | | Cash Value | $113,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $113,500,000 | | Federal Tax(24%) | $27,240,000 | | Additional Federal Tax | $14,715,330 | | State Tax(6.9%) | $7,831,500 | | Net Lumpsum Payment | $63,713,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,762,750 |
$1,352,548
$259,630 |
$2,150,572 |
| 2 |
$3,951,000 |
$1,422,200
$272,619 |
$2,256,181 |
| 3 |
$4,148,500 |
$1,495,275
$286,247 |
$2,366,978 |
| 4 |
$4,356,000 |
$1,572,050
$300,564 |
$2,483,386 |
| 5 |
$4,573,750 |
$1,652,618
$315,589 |
$2,605,543 |
| 6 |
$4,802,500 |
$1,737,255
$331,373 |
$2,733,872 |
| 7 |
$5,042,500 |
$1,826,055
$347,933 |
$2,868,512 |
| 8 |
$5,294,750 |
$1,919,388
$365,338 |
$3,010,024 |
| 9 |
$5,559,500 |
$2,017,345
$383,606 |
$3,158,549 |
| 10 |
$5,837,500 |
$2,120,205
$402,788 |
$3,314,507 |
| 11 |
$6,129,250 |
$2,228,153
$422,918 |
$3,478,179 |
| 12 |
$6,435,750 |
$2,341,558
$444,067 |
$3,650,125 |
| 13 |
$6,757,500 |
$2,460,605
$466,268 |
$3,830,627 |
| 14 |
$7,095,500 |
$2,585,665
$489,590 |
$4,020,245 |
| 15 |
$7,450,250 |
$2,716,923
$514,067 |
$4,219,260 |
| 16 |
$7,822,750 |
$2,854,748
$539,770 |
$4,428,232 |
| 17 |
$8,213,750 |
$2,999,418
$566,749 |
$4,647,583 |
| 18 |
$8,624,500 |
$3,151,395
$595,091 |
$4,878,014 |
| 19 |
$9,055,750 |
$3,310,958
$624,847 |
$5,119,945 |
| 20 |
$9,508,500 |
$3,478,475
$656,087 |
$5,373,938 |
| 21 |
$9,984,000 |
$3,654,410
$688,896 |
$5,640,694 |
| 22 |
$10,483,250 |
$3,839,133
$723,344 |
$5,920,773 |
| 23 |
$11,007,250 |
$4,033,013
$759,500 |
$6,214,737 |
| 24 |
$11,557,750 |
$4,236,698
$797,485 |
$6,523,567 |
| 25 |
$12,135,500 |
$4,450,465
$837,350 |
$6,847,685 |
| 26 |
$12,742,500 |
$4,675,055
$879,233 |
$7,188,212 |
| 27 |
$13,379,500 |
$4,910,745
$923,186 |
$7,545,569 |
| 28 |
$14,048,500 |
$5,158,275
$969,347 |
$7,920,878 |
| 29 |
$14,751,000 |
$5,418,200
$1,017,819 |
$8,314,981 |
| 30 |
$15,488,500 |
$5,691,075
$1,068,707 |
$8,728,718 |
|
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