USA Mega

South Carolina Powerball Jackpot Annuity Payout Schedule for Jan 20, 2021

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The tax information provided here is based on 2021 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Powerball annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $730,000,000 for a ticket purchased in South Carolina, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money, as well as deductions claimed.

State:

South Carolina

Drawing Date:Wed, Jan 20, 2021
Jackpot:$730,000,000
Federal Tax:37% marginal rate
State Tax: 7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$10,987,548$4,029,465$769,128$6,188,954
2$11,536,925$4,232,735$807,585$6,496,606
3$12,113,771$4,446,168$847,964$6,819,640
4$12,719,460$4,670,273$890,362$7,158,825
5$13,355,432$4,905,582$934,880$7,514,970
6$14,023,204$5,152,658$981,624$7,888,922
7$14,724,365$5,412,087$1,030,706$8,281,572
8$15,460,583$5,684,488$1,082,241$8,693,854
9$16,233,612$5,970,509$1,136,353$9,126,751
10$17,045,293$6,270,831$1,193,170$9,581,292
11$17,897,557$6,586,169$1,252,829$10,058,560
12$18,792,435$6,917,273$1,315,470$10,559,691
13$19,732,057$7,264,933$1,381,244$11,085,880
14$20,718,660$7,629,976$1,450,306$11,638,377
15$21,754,593$8,013,272$1,522,821$12,218,500
16$22,842,323$8,415,732$1,598,963$12,827,628
17$23,984,438$8,838,314$1,678,911$13,467,213
18$25,183,660$9,282,027$1,762,856$14,138,778
19$26,442,843$9,747,924$1,850,999$14,843,920
20$27,764,986$10,237,117$1,943,549$15,584,320
21$29,153,235$10,750,769$2,040,726$16,361,739
22$30,610,897$11,290,104$2,142,763$17,178,030
23$32,141,442$11,856,406$2,249,901$18,035,135
24$33,748,513$12,451,022$2,362,396$18,935,095
25$35,435,939$13,075,370$2,480,516$19,880,054
26$37,207,736$13,730,935$2,604,542$20,872,260
27$39,068,123$14,419,278$2,734,769$21,914,077
28$41,021,529$15,142,038$2,871,507$23,007,984
29$43,072,605$15,900,936$3,015,082$24,156,587
30$45,226,236$16,697,780$3,165,837$25,362,620
Total$730,000,001$269,022,171$51,100,000$409,877,834

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.