The jackpot for the MEGA Millions draw on Fri Jul 3, 2026, is projected to be $542 Million, with an option for a cash payout of $242 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 Jul 3, 2026 |
|---|
| Draw Date | Fri Jul 3, 2026 | | Projected Jackpot | $542,000,000 | | Cash Value | $242,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $242,000,000 | | Federal Tax(24%) | $58,080,000 | | Additional Federal Tax | $31,420,330 | | State Tax(6.9%) | $16,698,000 | | Net Lumpsum Payment | $135,801,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,157,642 |
$2,978,658
$562,877 |
$4,616,107 |
| 2 |
$8,565,768 |
$3,129,665
$591,038 |
$4,845,065 |
| 3 |
$8,993,948 |
$3,288,091
$620,582 |
$5,085,275 |
| 4 |
$9,443,808 |
$3,454,539
$651,623 |
$5,337,646 |
| 5 |
$9,915,890 |
$3,629,210
$684,196 |
$5,602,484 |
| 6 |
$10,411,820 |
$3,812,704
$718,416 |
$5,880,700 |
| 7 |
$10,932,140 |
$4,005,222
$754,318 |
$6,172,600 |
| 8 |
$11,479,018 |
$4,207,567
$792,052 |
$6,479,399 |
| 9 |
$12,052,996 |
$4,419,939
$831,657 |
$6,801,400 |
| 10 |
$12,655,700 |
$4,642,939
$873,243 |
$7,139,518 |
| 11 |
$13,288,214 |
$4,876,970
$916,887 |
$7,494,357 |
| 12 |
$13,952,706 |
$5,122,832
$962,737 |
$7,867,137 |
| 13 |
$14,650,260 |
$5,380,927
$1,010,868 |
$8,258,465 |
| 14 |
$15,383,044 |
$5,652,057
$1,061,430 |
$8,669,557 |
| 15 |
$16,152,142 |
$5,936,623
$1,114,498 |
$9,101,021 |
| 16 |
$16,959,722 |
$6,235,428
$1,170,221 |
$9,554,073 |
| 17 |
$17,807,410 |
$6,549,072
$1,228,711 |
$10,029,627 |
| 18 |
$18,697,916 |
$6,878,559
$1,290,156 |
$10,529,201 |
| 19 |
$19,632,866 |
$7,224,491
$1,354,668 |
$11,053,707 |
| 20 |
$20,614,428 |
$7,587,669
$1,422,396 |
$11,604,363 |
| 21 |
$21,645,312 |
$7,969,096
$1,493,527 |
$12,182,689 |
| 22 |
$22,727,686 |
$8,369,574
$1,568,210 |
$12,789,902 |
| 23 |
$23,863,718 |
$8,789,906
$1,646,597 |
$13,427,215 |
| 24 |
$25,057,202 |
$9,231,495
$1,728,947 |
$14,096,760 |
| 25 |
$26,309,764 |
$9,694,943
$1,815,374 |
$14,799,447 |
| 26 |
$27,625,740 |
$10,181,854
$1,906,176 |
$15,537,710 |
| 27 |
$29,006,756 |
$10,692,830
$2,001,466 |
$16,312,460 |
| 28 |
$30,457,148 |
$11,229,475
$2,101,543 |
$17,126,130 |
| 29 |
$31,980,168 |
$11,792,993
$2,206,632 |
$17,980,543 |
| 30 |
$33,579,068 |
$12,384,586
$2,316,956 |
$18,877,526 |
|
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