The jackpot for the MEGA Millions draw on Fri Jan 16, 2026, is projected to be $230 Million, with an option for a cash payout of $105.1 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 Jan 16, 2026 |
|---|
| Draw Date | Fri Jan 16, 2026 | | Projected Jackpot | $230,000,000 | | Cash Value | $105,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $105,100,000 | | Federal Tax(24%) | $25,224,000 | | Additional Federal Tax | $13,623,330 | | State Tax(6.9%) | $7,251,900 | | Net Lumpsum Payment | $59,000,770 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,461,730 |
$1,241,170
$238,859 |
$1,981,701 |
| 2 |
$3,634,920 |
$1,305,251
$250,809 |
$2,078,860 |
| 3 |
$3,816,620 |
$1,372,480
$263,347 |
$2,180,793 |
| 4 |
$4,007,520 |
$1,443,113
$276,519 |
$2,287,888 |
| 5 |
$4,207,850 |
$1,517,235
$290,342 |
$2,400,273 |
| 6 |
$4,418,300 |
$1,595,101
$304,863 |
$2,518,336 |
| 7 |
$4,639,100 |
$1,676,797
$320,098 |
$2,642,205 |
| 8 |
$4,871,170 |
$1,762,663
$336,111 |
$2,772,396 |
| 9 |
$5,114,740 |
$1,852,784
$352,917 |
$2,909,039 |
| 10 |
$5,370,500 |
$1,947,415
$370,565 |
$3,052,520 |
| 11 |
$5,638,910 |
$2,046,727
$389,085 |
$3,203,098 |
| 12 |
$5,920,890 |
$2,151,060
$408,541 |
$3,361,289 |
| 13 |
$6,216,900 |
$2,260,583
$428,966 |
$3,527,351 |
| 14 |
$6,527,860 |
$2,375,639
$450,422 |
$3,701,799 |
| 15 |
$6,854,230 |
$2,496,395
$472,942 |
$3,884,893 |
| 16 |
$7,196,930 |
$2,623,194
$496,588 |
$4,077,148 |
| 17 |
$7,556,650 |
$2,756,291
$521,409 |
$4,278,950 |
| 18 |
$7,934,540 |
$2,896,110
$547,483 |
$4,490,947 |
| 19 |
$8,331,290 |
$3,042,908
$574,859 |
$4,713,523 |
| 20 |
$8,747,820 |
$3,197,024
$603,600 |
$4,947,196 |
| 21 |
$9,185,280 |
$3,358,884
$633,784 |
$5,192,612 |
| 22 |
$9,644,590 |
$3,528,829
$665,477 |
$5,450,284 |
| 23 |
$10,126,670 |
$3,707,198
$698,740 |
$5,720,732 |
| 24 |
$10,633,130 |
$3,894,588
$733,686 |
$6,004,856 |
| 25 |
$11,164,660 |
$4,091,255
$770,362 |
$6,303,043 |
| 26 |
$11,723,100 |
$4,297,877
$808,894 |
$6,616,329 |
| 27 |
$12,309,140 |
$4,514,712
$849,331 |
$6,945,097 |
| 28 |
$12,924,620 |
$4,742,440
$891,799 |
$7,290,381 |
| 29 |
$13,570,920 |
$4,981,571
$936,393 |
$7,652,956 |
| 30 |
$14,249,420 |
$5,232,616
$983,210 |
$8,033,594 |
|
|
