The jackpot for the MEGA Millions draw on Fri May 23, 2025, is projected to be $154 Million, with an option for a cash payout of $69 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 23, 2025 |
| Draw Date |
Fri May 23, 2025 |
| Projected Jackpot |
$154,000,000 |
| Cash Value |
$69,000,000 |
| Lumpsum Option Taxes and Payment |
| Cash Gross Payment |
$69,000,000 |
| Federal Tax(24%) |
$16,560,000 |
| Additional Federal Tax |
$8,930,330 |
| State Tax(6.9%) |
$4,761,000 |
| Net Lumpsum Payment |
$38,748,670 |
| Annuity Payment in 30 Installations |
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,317,854 |
$817,936
$159,932 |
$1,339,986 |
| 2 |
$2,433,816 |
$860,842
$167,933 |
$1,405,041 |
| 3 |
$2,555,476 |
$905,857
$176,328 |
$1,473,291 |
| 4 |
$2,683,296 |
$953,150
$185,147 |
$1,544,999 |
| 5 |
$2,817,430 |
$1,002,779
$194,403 |
$1,620,248 |
| 6 |
$2,958,340 |
$1,054,916
$204,125 |
$1,699,299 |
| 7 |
$3,106,180 |
$1,109,617
$214,326 |
$1,782,237 |
| 8 |
$3,261,566 |
$1,167,110
$225,048 |
$1,869,408 |
| 9 |
$3,424,652 |
$1,227,452
$236,301 |
$1,960,899 |
| 10 |
$3,595,900 |
$1,290,813
$248,117 |
$2,056,970 |
| 11 |
$3,775,618 |
$1,357,309
$260,518 |
$2,157,791 |
| 12 |
$3,964,422 |
$1,427,167
$273,545 |
$2,263,710 |
| 13 |
$4,162,620 |
$1,500,500
$287,221 |
$2,374,899 |
| 14 |
$4,370,828 |
$1,577,537
$301,587 |
$2,491,704 |
| 15 |
$4,589,354 |
$1,658,391
$316,665 |
$2,614,298 |
| 16 |
$4,818,814 |
$1,743,292
$332,498 |
$2,743,024 |
| 17 |
$5,059,670 |
$1,832,408
$349,117 |
$2,878,145 |
| 18 |
$5,312,692 |
$1,926,026
$366,576 |
$3,020,090 |
| 19 |
$5,578,342 |
$2,024,317
$384,906 |
$3,169,119 |
| 20 |
$5,857,236 |
$2,127,508
$404,149 |
$3,325,579 |
| 21 |
$6,150,144 |
$2,235,884
$424,360 |
$3,489,900 |
| 22 |
$6,457,682 |
$2,349,673
$445,580 |
$3,662,429 |
| 23 |
$6,780,466 |
$2,469,103
$467,852 |
$3,843,511 |
| 24 |
$7,119,574 |
$2,594,573
$491,251 |
$4,033,750 |
| 25 |
$7,475,468 |
$2,726,254
$515,807 |
$4,233,407 |
| 26 |
$7,849,380 |
$2,864,601
$541,607 |
$4,443,172 |
| 27 |
$8,241,772 |
$3,009,786
$568,682 |
$4,663,304 |
| 28 |
$8,653,876 |
$3,162,265
$597,117 |
$4,894,494 |
| 29 |
$9,086,616 |
$3,322,378
$626,977 |
$5,137,261 |
| 30 |
$9,540,916 |
$3,490,469
$658,323 |
$5,392,124 |
|
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