The jackpot for the MEGA Millions draw on Tue Mar 18, 2025, is projected to be $301 Million, with an option for a cash payout of $139.5 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 Mar 18, 2025 |
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Draw Date | Tue Mar 18, 2025 | Projected Jackpot | $301,000,000 | Cash Value | $139,500,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $139,500,000 | Federal Tax(24%) | $33,480,000 | Additional Federal Tax | $18,095,330 | State Tax(6.9%) | $9,625,500 | Net Lumpsum Payment | $78,299,170 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$4,530,351 |
$1,636,560 $312,594 |
$2,581,197 |
2 |
$4,757,004 |
$1,720,422 $328,233 |
$2,708,349 |
3 |
$4,994,794 |
$1,808,404 $344,641 |
$2,841,749 |
4 |
$5,244,624 |
$1,900,841 $361,879 |
$2,981,904 |
5 |
$5,506,795 |
$1,997,845 $379,969 |
$3,128,981 |
6 |
$5,782,210 |
$2,099,748 $398,972 |
$3,283,490 |
7 |
$6,071,170 |
$2,206,663 $418,911 |
$3,445,596 |
8 |
$6,374,879 |
$2,319,036 $439,867 |
$3,615,976 |
9 |
$6,693,638 |
$2,436,976 $461,861 |
$3,794,801 |
10 |
$7,028,350 |
$2,560,820 $484,956 |
$3,982,574 |
11 |
$7,379,617 |
$2,690,789 $509,194 |
$4,179,634 |
12 |
$7,748,643 |
$2,827,328 $534,656 |
$4,386,659 |
13 |
$8,136,030 |
$2,970,661 $561,386 |
$4,603,983 |
14 |
$8,542,982 |
$3,121,234 $589,466 |
$4,832,282 |
15 |
$8,970,101 |
$3,279,268 $618,937 |
$5,071,896 |
16 |
$9,418,591 |
$3,445,209 $649,883 |
$5,323,499 |
17 |
$9,889,355 |
$3,619,392 $682,365 |
$5,587,598 |
18 |
$10,383,898 |
$3,802,373 $716,489 |
$5,865,036 |
19 |
$10,903,123 |
$3,994,486 $752,315 |
$6,156,322 |
20 |
$11,448,234 |
$4,196,177 $789,928 |
$6,462,129 |
21 |
$12,020,736 |
$4,408,003 $829,431 |
$6,783,302 |
22 |
$12,621,833 |
$4,630,409 $870,906 |
$7,120,518 |
23 |
$13,252,729 |
$4,863,840 $914,438 |
$7,474,451 |
24 |
$13,915,531 |
$5,109,077 $960,172 |
$7,846,282 |
25 |
$14,611,142 |
$5,366,453 $1,008,169 |
$8,236,520 |
26 |
$15,341,970 |
$5,636,859 $1,058,596 |
$8,646,515 |
27 |
$16,108,918 |
$5,920,630 $1,111,515 |
$9,076,773 |
28 |
$16,914,394 |
$6,218,656 $1,167,093 |
$9,528,645 |
29 |
$17,760,204 |
$6,531,606 $1,225,454 |
$10,003,144 |
30 |
$18,648,154 |
$6,860,147 $1,286,723 |
$10,501,284 |
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