The jackpot for the MEGA Millions draw on Tue Jul 15, 2025, is projected to be $90 Million, with an option for a cash payout of $39.9 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 Jul 15, 2025 |
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Draw Date | Tue Jul 15, 2025 | Projected Jackpot | $90,000,000 | Cash Value | $39,900,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $39,900,000 | Federal Tax(24%) | $9,576,000 | Additional Federal Tax | $5,147,330 | State Tax(6.9%) | $2,753,100 | Net Lumpsum Payment | $22,423,570 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$1,354,590 |
$461,529 $93,467 |
$799,594 |
2 |
$1,422,360 |
$486,604 $98,143 |
$837,613 |
3 |
$1,493,460 |
$512,911 $103,049 |
$877,500 |
4 |
$1,568,160 |
$540,550 $108,203 |
$919,407 |
5 |
$1,646,550 |
$569,554 $113,612 |
$963,384 |
6 |
$1,728,900 |
$600,023 $119,294 |
$1,009,583 |
7 |
$1,815,300 |
$631,991 $125,256 |
$1,058,053 |
8 |
$1,906,110 |
$665,591 $131,522 |
$1,108,997 |
9 |
$2,001,420 |
$700,856 $138,098 |
$1,162,466 |
10 |
$2,101,500 |
$737,885 $145,004 |
$1,218,611 |
11 |
$2,206,530 |
$776,746 $152,251 |
$1,277,533 |
12 |
$2,316,870 |
$817,572 $159,864 |
$1,339,434 |
13 |
$2,432,700 |
$860,429 $167,856 |
$1,404,415 |
14 |
$2,554,380 |
$905,451 $176,252 |
$1,472,677 |
15 |
$2,682,090 |
$952,704 $185,064 |
$1,544,322 |
16 |
$2,816,190 |
$1,002,321 $194,317 |
$1,619,552 |
17 |
$2,956,950 |
$1,054,402 $204,030 |
$1,698,518 |
18 |
$3,104,820 |
$1,109,114 $214,233 |
$1,781,473 |
19 |
$3,260,070 |
$1,166,556 $224,945 |
$1,868,569 |
20 |
$3,423,060 |
$1,226,863 $236,191 |
$1,960,006 |
21 |
$3,594,240 |
$1,290,199 $248,003 |
$2,056,038 |
22 |
$3,773,970 |
$1,356,699 $260,404 |
$2,156,867 |
23 |
$3,962,610 |
$1,426,496 $273,420 |
$2,262,694 |
24 |
$4,160,790 |
$1,499,823 $287,095 |
$2,373,872 |
25 |
$4,368,780 |
$1,576,779 $301,446 |
$2,490,555 |
26 |
$4,587,300 |
$1,657,631 $316,524 |
$2,613,145 |
27 |
$4,816,620 |
$1,742,480 $332,347 |
$2,741,793 |
28 |
$5,057,460 |
$1,831,591 $348,965 |
$2,876,904 |
29 |
$5,310,360 |
$1,925,164 $366,415 |
$3,018,781 |
30 |
$5,575,860 |
$2,023,399 $384,734 |
$3,167,727 |
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