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South Carolina Powerball Jackpot Annuity Payout Schedule for Nov 22, 2008

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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 $57,600,000 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, Nov 22, 2008
Jackpot:$57,600,000
Federal Tax:37% marginal rate
State Tax: 6.2%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,027,014$337,015$63,675$626,324
2$1,068,094$352,215$66,222$649,657
3$1,110,818$368,023$68,871$673,924
4$1,155,251$384,463$71,626$699,162
5$1,201,461$401,561$74,491$725,409
6$1,249,519$419,342$77,470$752,707
7$1,299,500$437,835$80,569$781,096
8$1,351,480$457,068$83,792$810,620
9$1,405,539$477,070$87,143$841,326
10$1,461,761$497,872$90,629$873,260
11$1,520,231$519,506$94,254$906,471
12$1,581,040$542,005$98,025$941,011
13$1,644,282$565,405$101,945$976,932
14$1,710,053$589,740$106,023$1,014,290
15$1,778,455$615,049$110,264$1,053,142
16$1,849,594$641,370$114,675$1,093,549
17$1,923,577$668,744$119,262$1,135,572
18$2,000,521$697,213$124,032$1,179,275
19$2,080,541$726,821$128,994$1,224,727
20$2,163,763$757,613$134,153$1,271,997
21$2,250,314$789,636$139,519$1,321,158
22$2,340,326$822,941$145,100$1,372,285
23$2,433,939$857,578$150,904$1,425,457
24$2,531,297$893,600$156,940$1,480,756
25$2,632,549$931,063$163,218$1,538,267
26$2,737,850$970,025$169,747$1,598,079
27$2,847,364$1,010,545$176,537$1,660,283
28$2,961,259$1,052,686$183,598$1,724,975
29$3,079,709$1,096,513$190,942$1,792,255
30$3,202,898$1,142,092$198,580$1,862,226
Total$57,600,000$20,022,609$3,571,200$34,006,192

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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.