Jackpot Analysis South Dakota Mega Millions

Jackpot Analysis for South Dakota Mega Millions
The jackpot for the MEGA Millions draw on Fri Oct 4, 2024, is projected to be $108 Million, with an option for a cash payout of $53.8 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 those living in South Dakota, the bright side is you won't have to pay any state taxes on your lottery prize.

South Dakota MEGA Millions Jackpot/Cash Option for Fri Oct 4, 2024
Draw DateFri Oct 4, 2024
Projected Jackpot$108,000,000
Cash Value$53,800,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$53,800,000
Federal Tax(24%)$12,912,000
Additional Federal Tax$6,954,330
State Tax(0%)$0
Net Lumpsum Payment$33,933,670
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $1,625,508 $561,768
$0
$1,063,740
2 $1,706,832 $591,858
$0
$1,114,974
3 $1,792,152 $623,427
$0
$1,168,725
4 $1,881,792 $656,593
$0
$1,225,199
5 $1,975,860 $691,399
$0
$1,284,461
6 $2,074,680 $727,962
$0
$1,346,718
7 $2,178,360 $766,324
$0
$1,412,036
8 $2,287,332 $806,643
$0
$1,480,689
9 $2,401,704 $848,961
$0
$1,552,743
10 $2,521,800 $893,396
$0
$1,628,404
11 $2,647,836 $940,030
$0
$1,707,806
12 $2,780,244 $989,021
$0
$1,791,223
13 $2,919,240 $1,040,449
$0
$1,878,791
14 $3,065,256 $1,094,475
$0
$1,970,781
15 $3,218,508 $1,151,178
$0
$2,067,330
16 $3,379,428 $1,210,719
$0
$2,168,709
17 $3,548,340 $1,273,216
$0
$2,275,124
18 $3,725,784 $1,338,870
$0
$2,386,914
19 $3,912,084 $1,407,801
$0
$2,504,283
20 $4,107,672 $1,480,169
$0
$2,627,503
21 $4,313,088 $1,556,173
$0
$2,756,915
22 $4,528,764 $1,635,973
$0
$2,892,791
23 $4,755,132 $1,719,729
$0
$3,035,403
24 $4,992,948 $1,807,721
$0
$3,185,227
25 $5,242,536 $1,900,069
$0
$3,342,467
26 $5,504,760 $1,997,092
$0
$3,507,668
27 $5,779,944 $2,098,910
$0
$3,681,034
28 $6,068,952 $2,205,843
$0
$3,863,109
29 $6,372,432 $2,318,130
$0
$4,054,302
30 $6,691,032 $2,436,012
$0
$4,255,020