The jackpot for the MEGA Millions draw on Fri May 2, 2025, is projected to be $80 Million, with an option for a cash payout of $36.4 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 May 2, 2025 |
|---|
| Draw Date | Fri May 2, 2025 | | Projected Jackpot | $80,000,000 | | Cash Value | $36,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $36,400,000 | | Federal Tax(24%) | $8,736,000 | | Additional Federal Tax | $4,692,330 | | State Tax(6.9%) | $2,511,600 | | Net Lumpsum Payment | $20,460,070 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,204,080 |
$405,840
$83,082 |
$715,158 |
| 2 |
$1,264,320 |
$428,129
$87,238 |
$748,953 |
| 3 |
$1,327,520 |
$451,513
$91,599 |
$784,408 |
| 4 |
$1,393,920 |
$476,081
$96,180 |
$821,659 |
| 5 |
$1,463,600 |
$501,862
$100,988 |
$860,750 |
| 6 |
$1,536,800 |
$528,946
$106,039 |
$901,815 |
| 7 |
$1,613,600 |
$557,362
$111,338 |
$944,900 |
| 8 |
$1,694,320 |
$587,229
$116,908 |
$990,183 |
| 9 |
$1,779,040 |
$618,575
$122,754 |
$1,037,711 |
| 10 |
$1,868,000 |
$651,490
$128,892 |
$1,087,618 |
| 11 |
$1,961,360 |
$686,034
$135,334 |
$1,139,992 |
| 12 |
$2,059,440 |
$722,323
$142,101 |
$1,195,016 |
| 13 |
$2,162,400 |
$760,418
$149,206 |
$1,252,776 |
| 14 |
$2,270,560 |
$800,438
$156,669 |
$1,313,453 |
| 15 |
$2,384,080 |
$842,440
$164,502 |
$1,377,138 |
| 16 |
$2,503,280 |
$886,544
$172,726 |
$1,444,010 |
| 17 |
$2,628,400 |
$932,838
$181,360 |
$1,514,202 |
| 18 |
$2,759,840 |
$981,471
$190,429 |
$1,587,940 |
| 19 |
$2,897,840 |
$1,032,531
$199,951 |
$1,665,358 |
| 20 |
$3,042,720 |
$1,086,137
$209,948 |
$1,746,635 |
| 21 |
$3,194,880 |
$1,142,436
$220,447 |
$1,831,997 |
| 22 |
$3,354,640 |
$1,201,547
$231,470 |
$1,921,623 |
| 23 |
$3,522,320 |
$1,263,589
$243,040 |
$2,015,691 |
| 24 |
$3,698,480 |
$1,328,768
$255,195 |
$2,114,517 |
| 25 |
$3,883,360 |
$1,397,174
$267,952 |
$2,218,234 |
| 26 |
$4,077,600 |
$1,469,042
$281,354 |
$2,327,204 |
| 27 |
$4,281,440 |
$1,544,463
$295,419 |
$2,441,558 |
| 28 |
$4,495,520 |
$1,623,673
$310,191 |
$2,561,656 |
| 29 |
$4,720,320 |
$1,706,849
$325,702 |
$2,687,769 |
| 30 |
$4,956,320 |
$1,794,169
$341,986 |
$2,820,165 |
|
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