USA Mega

South Carolina Powerball Jackpot Annuity Payout Schedule for Sep 4, 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 $70,100,000 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, Sep 4, 2002
Jackpot:$70,100,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,249,890$420,647$79,993$749,250
2$1,299,886$439,145$83,193$777,547
3$1,351,881$458,384$86,520$806,977
4$1,405,956$478,392$89,981$837,583
5$1,462,194$499,200$93,580$869,414
6$1,520,682$520,840$97,324$902,518
7$1,581,510$543,346$101,217$936,947
8$1,644,770$566,753$105,265$972,752
9$1,710,561$591,095$109,476$1,009,990
10$1,778,983$616,412$113,855$1,048,717
11$1,850,142$642,740$118,409$1,088,993
12$1,924,148$670,123$123,145$1,130,880
13$2,001,114$698,600$128,071$1,174,443
14$2,081,159$728,216$133,194$1,219,748
15$2,164,405$759,018$138,522$1,266,865
16$2,250,981$791,051$144,063$1,315,868
17$2,341,020$824,365$149,825$1,366,830
18$2,434,661$859,012$155,818$1,419,831
19$2,532,048$895,045$162,051$1,474,951
20$2,633,330$932,520$168,533$1,532,277
21$2,738,663$971,493$175,274$1,591,895
22$2,848,209$1,012,025$182,285$1,653,899
23$2,962,138$1,054,179$189,577$1,718,382
24$3,080,623$1,098,018$197,160$1,785,445
25$3,203,848$1,143,612$205,046$1,855,190
26$3,332,002$1,191,029$213,248$1,927,725
27$3,465,282$1,240,342$221,778$2,003,162
28$3,603,893$1,291,628$230,649$2,081,616
29$3,748,049$1,344,966$239,875$2,163,208
30$3,897,971$1,400,437$249,470$2,248,064
Total$70,100,000$24,682,633$4,486,397$40,930,967

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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.