USA Mega

South Carolina Powerball Jackpot Annuity Payout Schedule for Nov 28, 2001

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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 $24,500,000 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, Nov 28, 2001
Jackpot:$24,500,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$436,837$123,268$27,958$285,612
2$454,311$129,384$29,076$295,851
3$472,483$135,744$30,239$306,501
4$491,383$142,359$31,448$317,576
5$511,038$149,238$32,706$329,094
6$531,480$156,393$34,015$341,072
7$552,739$163,833$35,375$353,530
8$574,848$171,572$36,790$366,486
9$597,842$179,620$38,262$379,961
10$621,756$188,237$39,792$393,726
11$646,626$197,439$41,384$407,803
12$672,491$207,009$43,039$422,442
13$699,391$216,962$44,761$437,667
14$727,366$227,313$46,551$453,502
15$756,461$238,078$48,414$469,969
16$786,720$249,274$50,350$487,096
17$818,188$260,917$52,364$504,907
18$850,916$273,027$54,459$523,431
19$884,952$285,620$56,637$542,695
20$920,351$298,717$58,902$562,731
21$957,165$312,339$61,259$583,567
22$995,451$326,505$63,709$605,238
23$1,035,269$341,237$66,257$627,775
24$1,076,680$356,559$68,908$651,213
25$1,119,747$372,494$71,664$675,589
26$1,164,537$389,066$74,530$700,940
27$1,211,119$406,302$77,512$727,305
28$1,259,563$424,226$80,612$754,725
29$1,309,946$442,868$83,837$783,242
30$1,362,344$462,255$87,190$812,899
Total$24,500,000$7,827,855$1,568,000$15,104,145

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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.