USA Mega

South Carolina Powerball Jackpot Annuity Payout Schedule for May 14, 2005

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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 $112,000,000 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, May 14, 2005
Jackpot:$112,000,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,996,971$697,067$127,806$1,172,098
2$2,076,850$726,622$132,918$1,217,309
3$2,159,924$757,360$138,235$1,264,329
4$2,246,321$789,326$143,765$1,313,230
5$2,336,174$822,572$149,515$1,364,087
6$2,429,621$857,147$155,496$1,416,978
7$2,526,806$893,106$161,716$1,471,984
8$2,627,878$930,503$168,184$1,529,191
9$2,732,993$969,395$174,912$1,588,686
10$2,842,313$1,009,843$181,908$1,650,561
11$2,956,005$1,051,910$189,184$1,714,911
12$3,074,245$1,095,658$196,752$1,781,835
13$3,197,215$1,141,157$204,622$1,851,436
14$3,325,104$1,188,476$212,807$1,923,821
15$3,458,108$1,237,688$221,319$1,999,101
16$3,596,432$1,288,868$230,172$2,077,393
17$3,740,289$1,342,095$239,379$2,158,816
18$3,889,901$1,397,451$248,954$2,243,496
19$4,045,497$1,455,022$258,912$2,331,564
20$4,207,317$1,514,895$269,268$2,423,154
21$4,375,610$1,577,163$280,039$2,518,407
22$4,550,634$1,641,922$291,241$2,617,471
23$4,732,659$1,709,272$302,890$2,720,497
24$4,921,966$1,779,315$315,006$2,827,645
25$5,118,844$1,852,160$327,606$2,939,078
26$5,323,598$1,927,919$340,710$3,054,969
27$5,536,542$2,006,708$354,339$3,175,495
28$5,758,004$2,088,649$368,512$3,300,842
29$5,988,324$2,173,868$383,253$3,431,204
30$6,227,857$2,262,495$398,583$3,566,779
Total$112,000,000$40,185,632$7,168,003$64,646,367

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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.