The jackpot for the MEGA Millions draw on Fri Aug 1, 2025, is projected to be $140 Million, with an option for a cash payout of $62 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 Aug 1, 2025 |
|---|
| Draw Date | Fri Aug 1, 2025 | | Projected Jackpot | $140,000,000 | | Cash Value | $62,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $62,000,000 | | Federal Tax(24%) | $14,880,000 | | Additional Federal Tax | $8,020,330 | | State Tax(6.9%) | $4,278,000 | | Net Lumpsum Payment | $34,821,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,107,140 |
$739,972
$145,393 |
$1,221,775 |
| 2 |
$2,212,560 |
$778,978
$152,667 |
$1,280,915 |
| 3 |
$2,323,160 |
$819,900
$160,298 |
$1,342,962 |
| 4 |
$2,439,360 |
$862,894
$168,316 |
$1,408,150 |
| 5 |
$2,561,300 |
$908,011
$176,730 |
$1,476,559 |
| 6 |
$2,689,400 |
$955,408
$185,569 |
$1,548,423 |
| 7 |
$2,823,800 |
$1,005,136
$194,842 |
$1,623,822 |
| 8 |
$2,965,060 |
$1,057,403
$204,589 |
$1,703,068 |
| 9 |
$3,113,320 |
$1,112,259
$214,819 |
$1,786,242 |
| 10 |
$3,269,000 |
$1,169,860
$225,561 |
$1,873,579 |
| 11 |
$3,432,380 |
$1,230,311
$236,834 |
$1,965,235 |
| 12 |
$3,604,020 |
$1,293,818
$248,677 |
$2,061,525 |
| 13 |
$3,784,200 |
$1,360,484
$261,110 |
$2,162,606 |
| 14 |
$3,973,480 |
$1,430,518
$274,170 |
$2,268,792 |
| 15 |
$4,172,140 |
$1,504,022
$287,878 |
$2,380,240 |
| 16 |
$4,380,740 |
$1,581,204
$302,271 |
$2,497,265 |
| 17 |
$4,599,700 |
$1,662,219
$317,379 |
$2,620,102 |
| 18 |
$4,829,720 |
$1,747,327
$333,251 |
$2,749,142 |
| 19 |
$5,071,220 |
$1,836,682
$349,914 |
$2,884,624 |
| 20 |
$5,324,760 |
$1,930,492
$367,408 |
$3,026,860 |
| 21 |
$5,591,040 |
$2,029,015
$385,782 |
$3,176,243 |
| 22 |
$5,870,620 |
$2,132,460
$405,073 |
$3,333,087 |
| 23 |
$6,164,060 |
$2,241,033
$425,320 |
$3,497,707 |
| 24 |
$6,472,340 |
$2,355,096
$446,591 |
$3,670,653 |
| 25 |
$6,795,880 |
$2,474,806
$468,916 |
$3,852,158 |
| 26 |
$7,135,800 |
$2,600,576
$492,370 |
$4,042,854 |
| 27 |
$7,492,520 |
$2,732,563
$516,984 |
$4,242,973 |
| 28 |
$7,867,160 |
$2,871,180
$542,834 |
$4,453,146 |
| 29 |
$8,260,560 |
$3,016,738
$569,979 |
$4,673,843 |
| 30 |
$8,673,560 |
$3,169,548
$598,476 |
$4,905,536 |
|
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