USA Mega

South Carolina Powerball Jackpot Annuity Payout Schedule for Dec 14, 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 $77,700,000 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, Dec 14, 2011
Jackpot:$77,700,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,385,399$470,785$88,666$825,948
2$1,440,815$491,289$92,212$857,313
3$1,498,447$512,613$95,901$889,933
4$1,558,385$534,790$99,737$923,858
5$1,620,721$557,854$103,726$959,140
6$1,685,549$581,841$107,875$995,833
7$1,752,971$606,787$112,190$1,033,994
8$1,823,090$632,731$116,678$1,073,681
9$1,896,014$659,713$121,345$1,114,956
10$1,971,854$687,774$126,199$1,157,882
11$2,050,729$716,957$131,247$1,202,525
12$2,132,758$747,308$136,496$1,248,953
13$2,218,068$778,873$141,956$1,297,239
14$2,306,791$811,700$147,635$1,347,456
15$2,399,062$845,841$153,540$1,399,682
16$2,495,025$881,347$159,682$1,453,996
17$2,594,826$918,273$166,069$1,510,484
18$2,698,619$956,677$172,712$1,569,231
19$2,806,564$996,616$179,620$1,630,327
20$2,918,826$1,038,153$186,805$1,693,868
21$3,035,579$1,081,352$194,277$1,759,950
22$3,157,002$1,126,279$202,048$1,828,676
23$3,283,282$1,173,002$210,130$1,900,150
24$3,414,614$1,221,595$218,535$1,974,484
25$3,551,198$1,272,131$227,277$2,051,790
26$3,693,246$1,324,689$236,368$2,132,190
27$3,840,976$1,379,349$245,822$2,215,805
28$3,994,615$1,436,195$255,655$2,302,764
29$4,154,400$1,495,316$265,882$2,393,202
30$4,320,576$1,556,801$276,517$2,487,258
Total$77,700,000$27,494,631$4,972,802$45,232,568

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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.