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South Carolina Powerball Jackpot Annuity Payout Schedule for Dec 21, 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 $105,600,000 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:Wed, Dec 21, 2011
Jackpot:$105,600,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,882,858$654,845$120,503$1,107,510
2$1,958,173$682,712$125,323$1,150,138
3$2,036,500$711,693$130,336$1,194,471
4$2,117,960$741,833$135,549$1,240,577
5$2,202,678$773,179$140,971$1,288,528
6$2,290,785$805,778$146,610$1,338,397
7$2,382,417$839,682$152,475$1,390,260
8$2,477,713$874,942$158,574$1,444,198
9$2,576,822$911,612$164,917$1,500,293
10$2,679,895$949,749$171,513$1,558,633
11$2,787,090$989,411$178,374$1,619,305
12$2,898,574$1,030,660$185,509$1,682,405
13$3,014,517$1,073,559$192,929$1,748,029
14$3,135,098$1,118,174$200,646$1,816,278
15$3,260,502$1,164,573$208,672$1,887,256
16$3,390,922$1,212,829$217,019$1,961,074
17$3,526,559$1,263,014$225,700$2,037,844
18$3,667,621$1,315,207$234,728$2,117,686
19$3,814,326$1,369,488$244,117$2,200,721
20$3,966,899$1,425,940$253,882$2,287,077
21$4,125,575$1,484,650$264,037$2,376,888
22$4,290,598$1,545,709$274,598$2,470,291
23$4,462,222$1,609,210$285,582$2,567,430
24$4,640,711$1,675,251$297,005$2,668,454
25$4,826,339$1,743,933$308,886$2,773,520
26$5,019,393$1,815,363$321,241$2,882,788
27$5,220,168$1,889,650$334,091$2,996,427
28$5,428,975$1,966,908$347,454$3,114,612
29$5,646,134$2,047,257$361,353$3,237,524
30$5,871,979$2,130,820$375,807$3,365,353
Total$105,600,000$37,817,631$6,758,401$61,023,967

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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.