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South Carolina Powerball Jackpot Annuity Payout Schedule for Oct 5, 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 $60,200,000 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 5, 2011
Jackpot:$60,200,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,073,372$355,335$68,696$649,341
2$1,116,307$371,221$71,444$673,642
3$1,160,959$387,743$74,301$698,915
4$1,207,397$404,925$77,273$725,199
5$1,255,693$422,794$80,364$752,535
6$1,305,921$441,379$83,579$780,964
7$1,358,158$460,706$86,922$810,530
8$1,412,484$480,807$90,399$841,278
9$1,468,984$501,712$94,015$873,257
10$1,527,743$523,453$97,776$906,515
11$1,588,853$546,063$101,687$941,103
12$1,652,407$569,578$105,754$977,075
13$1,718,503$594,034$109,984$1,014,485
14$1,787,243$619,468$114,384$1,053,392
15$1,858,733$645,919$118,959$1,093,855
16$1,933,082$673,428$123,717$1,135,937
17$2,010,406$702,038$128,666$1,179,702
18$2,090,822$731,792$133,813$1,225,217
19$2,174,455$762,736$139,165$1,272,554
20$2,261,433$794,918$144,732$1,321,783
21$2,351,890$828,387$150,521$1,372,982
22$2,445,966$863,195$156,542$1,426,229
23$2,543,804$899,395$162,803$1,481,606
24$2,645,557$937,044$169,316$1,539,197
25$2,751,379$976,198$176,088$1,599,093
26$2,861,434$1,016,918$183,132$1,661,384
27$2,975,891$1,059,268$190,457$1,726,167
28$3,094,927$1,103,311$198,075$1,793,541
29$3,218,724$1,149,116$205,998$1,863,610
30$3,347,473$1,196,753$214,238$1,936,482
Total$60,200,000$21,019,634$3,852,800$35,327,570

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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.