USA Mega

South Carolina Powerball Jackpot Annuity Payout Schedule for Oct 2, 2002

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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 $22,100,000 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 2, 2002
Jackpot:$22,100,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$394,045$108,291$25,219$260,536
2$409,807$113,807$26,228$269,772
3$426,199$119,544$27,277$279,378
4$443,247$125,511$28,368$289,368
5$460,977$131,717$29,503$299,758
6$479,416$138,170$30,683$310,563
7$498,593$144,882$31,910$321,801
8$518,537$151,863$33,186$333,488
9$539,278$159,122$34,514$345,642
10$560,849$166,672$35,894$358,283
11$583,283$174,524$37,330$371,429
12$606,614$182,690$38,823$385,101
13$630,879$191,613$40,376$398,890
14$656,114$200,950$41,991$413,173
15$682,359$210,660$43,671$428,027
16$709,653$220,759$45,418$443,476
17$738,039$231,262$47,235$459,542
18$767,561$242,185$49,124$476,252
19$798,263$253,545$51,089$493,629
20$830,194$265,359$53,132$511,702
21$863,402$277,646$55,258$530,498
22$897,938$290,425$57,468$550,045
23$933,855$303,714$59,767$570,374
24$971,209$317,535$62,157$591,517
25$1,010,058$331,909$64,644$613,505
26$1,050,460$346,858$67,229$636,373
27$1,092,478$362,405$69,919$660,155
28$1,136,178$378,573$72,715$684,889
29$1,181,625$395,389$75,624$710,612
30$1,228,890$412,877$78,649$737,364
Total$22,100,000$6,950,457$1,414,401$13,735,142

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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.