USA Mega

South Carolina Powerball Jackpot Annuity Payout Schedule for Aug 28, 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 $55,300,000 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, Aug 28, 2002
Jackpot:$55,300,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$986,004$323,009$63,104$599,891
2$1,025,445$337,602$65,628$622,214
3$1,066,462$352,779$68,254$645,430
4$1,109,121$368,562$70,984$669,575
5$1,153,486$384,977$73,823$694,685
6$1,199,625$402,049$76,776$720,800
7$1,247,610$419,804$79,847$747,960
8$1,297,515$438,268$83,041$776,206
9$1,349,415$457,471$86,363$805,581
10$1,403,392$477,443$89,817$836,132
11$1,459,527$498,213$93,410$867,905
12$1,517,909$519,814$97,146$900,949
13$1,578,625$542,279$101,032$935,314
14$1,641,770$565,643$105,073$971,054
15$1,707,441$589,941$109,276$1,008,224
16$1,775,738$615,211$113,647$1,046,880
17$1,846,768$641,492$118,193$1,087,083
18$1,920,639$668,824$122,921$1,128,894
19$1,997,464$697,249$127,838$1,172,377
20$2,077,363$726,812$132,951$1,217,600
21$2,160,457$757,557$138,269$1,264,631
22$2,246,876$789,532$143,800$1,313,544
23$2,336,751$822,785$149,552$1,364,413
24$2,430,221$857,369$155,534$1,417,317
25$2,527,429$893,337$161,755$1,472,337
26$2,628,527$930,743$168,226$1,529,558
27$2,733,668$969,645$174,955$1,589,068
28$2,843,014$1,010,103$181,953$1,650,958
29$2,956,735$1,052,180$189,231$1,715,324
30$3,075,004$1,095,939$196,800$1,782,265
Total$55,300,000$19,206,632$3,539,199$32,554,169

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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.