USA Mega

South Carolina Powerball Jackpot Annuity Payout Schedule for Oct 27, 2004

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The tax information provided here is based on 2025 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 $20,300,000 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, Oct 27, 2004
Jackpot:$20,300,000
Federal Tax:37% marginal rate
State Tax: 6.2%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$361,951$96,230$22,441$243,280
2$376,429$101,297$23,339$251,793
3$391,486$106,567$24,272$260,647
4$407,146$112,048$25,243$269,854
5$423,431$117,748$26,253$279,430
6$440,369$123,676$27,303$289,390
7$457,983$129,841$28,395$299,747
8$476,303$136,253$29,531$310,519
9$495,355$142,921$30,712$321,721
10$515,169$149,856$31,940$333,372
11$535,776$157,069$33,218$345,489
12$557,207$164,570$34,547$358,090
13$579,495$172,371$35,929$371,196
14$602,675$180,484$37,366$384,826
15$626,782$188,930$38,860$398,992
16$651,853$198,206$40,415$413,232
17$677,927$207,853$42,032$428,043
18$705,045$217,887$43,713$443,445
19$733,246$228,321$45,461$459,464
20$762,576$239,173$47,280$476,123
21$793,079$250,460$49,171$493,449
22$824,802$262,197$51,138$511,468
23$857,795$274,404$53,183$530,207
24$892,106$287,100$55,311$549,696
25$927,791$300,303$57,523$569,965
26$964,902$314,034$59,824$591,044
27$1,003,498$328,315$62,217$612,967
28$1,043,638$343,166$64,706$635,766
29$1,085,384$358,612$67,294$659,478
30$1,128,799$374,676$69,986$684,138
Total$20,300,000$6,264,568$1,258,603$12,776,831

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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.