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South Carolina Powerball Jackpot Annuity Payout Schedule for Oct 12, 2011

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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 $87,200,000 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 12, 2011
Jackpot:$87,200,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,554,785$533,458$99,506$921,820
2$1,616,976$556,469$103,486$957,021
3$1,681,655$580,400$107,626$993,629
4$1,748,921$605,289$111,931$1,031,702
5$1,818,878$631,173$116,408$1,071,297
6$1,891,633$658,092$121,065$1,112,477
7$1,967,299$686,088$125,907$1,155,303
8$2,045,991$715,204$130,943$1,199,843
9$2,127,830$745,485$136,181$1,246,164
10$2,212,943$776,977$141,628$1,294,338
11$2,301,461$809,728$147,294$1,344,439
12$2,393,520$843,790$153,185$1,396,544
13$2,489,260$879,214$159,313$1,450,734
14$2,588,831$916,055$165,685$1,507,090
15$2,692,384$954,370$172,313$1,565,702
16$2,800,079$994,217$179,205$1,626,657
17$2,912,082$1,035,658$186,373$1,690,051
18$3,028,566$1,078,757$193,828$1,755,980
19$3,149,708$1,123,580$201,581$1,824,547
20$3,275,697$1,170,196$209,645$1,895,857
21$3,406,725$1,218,676$218,030$1,970,018
22$3,542,994$1,269,095$226,752$2,047,147
23$3,684,713$1,321,532$235,822$2,127,360
24$3,832,102$1,376,065$245,255$2,210,782
25$3,985,386$1,432,781$255,065$2,297,541
26$4,144,801$1,491,764$265,267$2,387,770
27$4,310,593$1,553,107$275,878$2,481,608
28$4,483,017$1,616,904$286,913$2,579,200
29$4,662,338$1,683,253$298,390$2,680,695
30$4,848,831$1,752,255$310,325$2,786,251
Total$87,200,000$31,009,632$5,580,800$50,609,567

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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.