USA Mega

South Carolina Powerball Jackpot Annuity Payout Schedule for Sep 27, 1997

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $8,000,000 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 money, as well as deductions claimed.

State:

South Carolina

Drawing Date:Sat, Sep 27, 1997
Jackpot:$8,000,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$142,641$27,276$9,129$106,235
2$148,346$28,646$9,494$110,207
3$154,280$30,070$9,874$114,337
4$160,451$31,551$10,269$118,632
5$166,870$33,091$10,680$123,099
6$173,544$34,693$11,107$127,744
7$180,486$36,359$11,551$132,576
8$187,706$38,092$12,013$137,601
9$195,214$40,155$12,494$142,565
10$203,022$42,654$12,993$147,375
11$211,143$45,252$13,513$152,378
12$219,589$47,955$14,054$157,580
13$228,373$50,766$14,616$162,991
14$237,507$53,689$15,200$168,618
15$247,008$56,827$15,808$174,372
16$256,888$60,286$16,441$180,162
17$267,164$63,882$17,098$186,183
18$277,850$67,622$17,782$192,445
19$288,964$71,512$18,494$198,958
20$300,523$75,558$19,233$205,732
21$312,544$79,765$20,003$212,776
22$325,045$84,141$20,803$220,102
23$338,047$88,691$21,635$227,721
24$351,569$93,424$22,500$235,645
25$365,632$98,346$23,400$243,885
26$380,257$103,465$24,336$252,456
27$395,467$108,788$25,310$261,369
28$411,286$114,325$26,322$270,639
29$427,737$120,083$27,375$280,279
30$444,847$126,071$28,470$290,306
Total$8,000,000$1,953,035$511,997$5,534,968

◄ Back to Jackpot Analysis

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.