The jackpot for the MEGA Millions draw on Tue May 20, 2025, is projected to be $139 Million, with an option for a cash payout of $62.3 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 May 20, 2025 |
|---|
| Draw Date | Tue May 20, 2025 | | Projected Jackpot | $139,000,000 | | Cash Value | $62,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $62,300,000 | | Federal Tax(24%) | $14,952,000 | | Additional Federal Tax | $8,059,330 | | State Tax(6.9%) | $4,298,700 | | Net Lumpsum Payment | $34,989,970 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,092,089 |
$734,403
$144,354 |
$1,213,332 |
| 2 |
$2,196,756 |
$773,130
$151,576 |
$1,272,050 |
| 3 |
$2,306,566 |
$813,760
$159,153 |
$1,333,653 |
| 4 |
$2,421,936 |
$856,447
$167,114 |
$1,398,375 |
| 5 |
$2,543,005 |
$901,242
$175,467 |
$1,466,296 |
| 6 |
$2,670,190 |
$948,301
$184,243 |
$1,537,646 |
| 7 |
$2,803,630 |
$997,673
$193,450 |
$1,612,507 |
| 8 |
$2,943,881 |
$1,049,566
$203,128 |
$1,691,187 |
| 9 |
$3,091,082 |
$1,104,031
$213,285 |
$1,773,766 |
| 10 |
$3,245,650 |
$1,161,221
$223,950 |
$1,860,479 |
| 11 |
$3,407,863 |
$1,221,240
$235,143 |
$1,951,480 |
| 12 |
$3,578,277 |
$1,284,293
$246,901 |
$2,047,083 |
| 13 |
$3,757,170 |
$1,350,483
$259,245 |
$2,147,442 |
| 14 |
$3,945,098 |
$1,420,017
$272,212 |
$2,252,869 |
| 15 |
$4,142,339 |
$1,492,996
$285,821 |
$2,363,522 |
| 16 |
$4,349,449 |
$1,569,627
$300,112 |
$2,479,710 |
| 17 |
$4,566,845 |
$1,650,063
$315,112 |
$2,601,670 |
| 18 |
$4,795,222 |
$1,734,563
$330,870 |
$2,729,789 |
| 19 |
$5,034,997 |
$1,823,279
$347,415 |
$2,864,303 |
| 20 |
$5,286,726 |
$1,916,419
$364,784 |
$3,005,523 |
| 21 |
$5,551,104 |
$2,014,239
$383,026 |
$3,153,839 |
| 22 |
$5,828,687 |
$2,116,945
$402,179 |
$3,309,563 |
| 23 |
$6,120,031 |
$2,224,742
$422,282 |
$3,473,007 |
| 24 |
$6,426,109 |
$2,337,991
$443,402 |
$3,644,716 |
| 25 |
$6,747,338 |
$2,456,845
$465,566 |
$3,824,927 |
| 26 |
$7,084,830 |
$2,581,717
$488,853 |
$4,014,260 |
| 27 |
$7,439,002 |
$2,712,761
$513,291 |
$4,212,950 |
| 28 |
$7,810,966 |
$2,850,388
$538,957 |
$4,421,621 |
| 29 |
$8,201,556 |
$2,994,906
$565,907 |
$4,640,743 |
| 30 |
$8,611,606 |
$3,146,625
$594,201 |
$4,870,780 |
|
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