USA Mega

South Carolina Powerball Jackpot Annuity Payout Schedule for Oct 15, 1997

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The tax information provided here is based on 2024 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 $22,500,000 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 money, as well as deductions claimed.

State:

South Carolina

Drawing Date:Wed, Oct 15, 1997
Jackpot:$22,500,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$401,177$110,787$25,675$264,715
2$417,224$116,403$26,702$274,119
3$433,913$122,244$27,770$283,898
4$451,270$128,319$28,881$294,069
5$469,321$134,637$30,037$304,647
6$488,093$141,207$31,238$315,648
7$507,617$148,041$32,487$327,089
8$527,922$155,147$33,787$338,987
9$549,039$162,538$35,138$351,362
10$571,000$170,225$36,544$364,231
11$593,840$178,219$38,006$377,616
12$617,594$186,697$39,526$391,370
13$642,298$195,838$41,107$405,353
14$667,990$205,344$42,751$419,894
15$694,709$215,230$44,461$435,018
16$722,498$225,512$46,240$450,746
17$751,397$236,205$48,089$467,103
18$781,453$247,325$50,013$484,115
19$812,711$258,891$52,014$501,807
20$845,220$270,919$54,094$520,207
21$879,029$283,428$56,258$539,343
22$914,190$296,438$58,508$559,244
23$950,757$309,968$60,848$579,941
24$988,788$324,039$63,282$601,466
25$1,028,339$338,673$65,814$623,852
26$1,069,473$353,893$68,446$647,134
27$1,112,252$369,721$71,184$671,347
28$1,156,742$386,182$74,031$696,528
29$1,203,011$403,302$76,993$722,717
30$1,251,132$421,107$80,072$749,953
Total$22,500,000$7,096,479$1,439,996$13,963,519

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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.