USA Mega

South Carolina Powerball Jackpot Annuity Payout Schedule for Oct 8, 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 $74,100,000 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, Oct 8, 2011
Jackpot:$74,100,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,321,210$447,036$84,557$789,617
2$1,374,059$466,589$87,940$819,530
3$1,429,021$486,926$91,457$850,638
4$1,486,182$508,075$95,116$882,991
5$1,545,629$530,071$98,920$916,638
6$1,607,454$552,946$102,877$951,631
7$1,671,753$576,736$106,992$988,024
8$1,738,623$601,478$111,272$1,025,873
9$1,808,168$627,210$115,723$1,065,235
10$1,880,494$653,971$120,352$1,106,172
11$1,955,714$681,802$125,166$1,148,746
12$2,033,943$710,747$130,172$1,193,024
13$2,115,300$740,849$135,379$1,239,072
14$2,199,912$772,155$140,794$1,286,963
15$2,287,909$804,714$146,426$1,336,769
16$2,379,425$838,575$152,283$1,388,567
17$2,474,602$873,791$158,375$1,442,437
18$2,573,586$910,415$164,710$1,498,462
19$2,676,530$948,504$171,298$1,556,728
20$2,783,591$988,116$178,150$1,617,325
21$2,894,935$1,029,314$185,276$1,680,345
22$3,010,732$1,072,159$192,687$1,745,887
23$3,131,161$1,116,717$200,394$1,814,050
24$3,256,408$1,163,059$208,410$1,884,939
25$3,386,664$1,211,253$216,746$1,958,664
26$3,522,131$1,261,376$225,416$2,035,338
27$3,663,016$1,313,504$234,433$2,115,079
28$3,809,536$1,367,716$243,810$2,198,010
29$3,961,918$1,424,097$253,563$2,284,258
30$4,120,395$1,482,734$263,705$2,373,956
Total$74,100,000$26,162,635$4,742,399$43,194,968

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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.