USA Mega

South Carolina Powerball Jackpot Annuity Payout Schedule for Jul 27, 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 $12,000,000 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, Jul 27, 2002
Jackpot:$12,000,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$213,961$46,154$13,694$154,114
2$222,520$48,893$14,241$159,386
3$231,420$51,741$14,811$164,868
4$240,677$54,703$15,403$170,571
5$250,304$57,981$16,019$176,304
6$260,317$61,486$16,660$182,171
7$270,729$65,130$17,327$188,273
8$281,558$68,920$18,020$194,618
9$292,821$72,862$18,741$201,218
10$304,533$76,961$19,490$208,082
11$316,715$81,225$20,270$215,220
12$329,383$85,659$21,081$222,644
13$342,559$90,270$21,924$230,365
14$356,261$95,066$22,801$238,394
15$370,512$100,054$23,713$246,745
16$385,332$105,241$24,661$255,430
17$400,745$110,636$25,648$264,462
18$416,775$116,246$26,674$273,855
19$433,446$122,081$27,741$283,625
20$450,784$128,149$28,850$293,785
21$468,815$134,460$30,004$304,351
22$487,568$141,024$31,204$315,340
23$507,071$147,849$32,453$326,769
24$527,353$154,948$33,751$338,654
25$548,448$162,331$35,101$351,016
26$570,386$170,010$36,505$363,871
27$593,201$177,995$37,965$377,241
28$616,929$186,451$39,483$390,994
29$641,606$195,582$41,063$404,961
30$667,270$205,078$42,705$419,487
Total$12,000,000$3,315,186$768,003$7,916,814

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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.