The jackpot for the MEGA Millions draw on Fri Nov 29, 2024, is projected to be $514 Million, with an option for a cash payout of $241 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 Nov 29, 2024 |
|---|
| Draw Date | Fri Nov 29, 2024 | | Projected Jackpot | $514,000,000 | | Cash Value | $241,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $241,000,000 | | Federal Tax(24%) | $57,840,000 | | Additional Federal Tax | $31,290,330 | | State Tax(6.9%) | $16,629,000 | | Net Lumpsum Payment | $135,240,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,736,214 |
$2,822,730
$533,799 |
$4,379,685 |
| 2 |
$8,123,256 |
$2,965,935
$560,505 |
$4,596,816 |
| 3 |
$8,529,316 |
$3,116,177
$588,523 |
$4,824,616 |
| 4 |
$8,955,936 |
$3,274,027
$617,960 |
$5,063,949 |
| 5 |
$9,403,630 |
$3,439,673
$648,850 |
$5,315,107 |
| 6 |
$9,873,940 |
$3,613,688
$681,302 |
$5,578,950 |
| 7 |
$10,367,380 |
$3,796,261
$715,349 |
$5,855,770 |
| 8 |
$10,886,006 |
$3,988,153
$751,134 |
$6,146,719 |
| 9 |
$11,430,332 |
$4,189,553
$788,693 |
$6,452,086 |
| 10 |
$12,001,900 |
$4,401,033
$828,131 |
$6,772,736 |
| 11 |
$12,601,738 |
$4,622,973
$869,520 |
$7,109,245 |
| 12 |
$13,231,902 |
$4,856,134
$913,001 |
$7,462,767 |
| 13 |
$13,893,420 |
$5,100,896
$958,646 |
$7,833,878 |
| 14 |
$14,588,348 |
$5,358,019
$1,006,596 |
$8,223,733 |
| 15 |
$15,317,714 |
$5,627,885
$1,056,922 |
$8,632,907 |
| 16 |
$16,083,574 |
$5,911,253
$1,109,767 |
$9,062,554 |
| 17 |
$16,887,470 |
$6,208,694
$1,165,235 |
$9,513,541 |
| 18 |
$17,731,972 |
$6,521,160
$1,223,506 |
$9,987,306 |
| 19 |
$18,618,622 |
$6,849,221
$1,284,685 |
$10,484,716 |
| 20 |
$19,549,476 |
$7,193,637
$1,348,914 |
$11,006,925 |
| 21 |
$20,527,104 |
$7,555,359
$1,416,370 |
$11,555,375 |
| 22 |
$21,553,562 |
$7,935,148
$1,487,196 |
$12,131,218 |
| 23 |
$22,630,906 |
$8,333,766
$1,561,533 |
$12,735,607 |
| 24 |
$23,762,734 |
$8,752,542
$1,639,629 |
$13,370,563 |
| 25 |
$24,950,588 |
$9,192,048
$1,721,591 |
$14,036,949 |
| 26 |
$26,198,580 |
$9,653,805
$1,807,702 |
$14,737,073 |
| 27 |
$27,508,252 |
$10,138,384
$1,898,069 |
$15,471,799 |
| 28 |
$28,883,716 |
$10,647,305
$1,992,976 |
$16,243,435 |
| 29 |
$30,328,056 |
$11,181,711
$2,092,636 |
$17,053,709 |
| 30 |
$31,844,356 |
$11,742,742
$2,197,261 |
$17,904,353 |
|
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