USA Mega

South Carolina Powerball Jackpot Annuity Payout Schedule for Apr 20, 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 $57,300,000 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, Apr 20, 2011
Jackpot:$57,300,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,021,665$336,204$65,387$620,074
2$1,062,531$351,324$68,002$643,205
3$1,105,033$367,050$70,722$667,261
4$1,149,234$383,404$73,551$692,279
5$1,195,203$400,413$76,493$718,297
6$1,243,011$418,102$79,553$745,357
7$1,292,732$436,498$82,735$773,498
8$1,344,441$455,631$86,044$802,766
9$1,398,219$475,529$89,486$833,204
10$1,454,147$496,222$93,065$864,860
11$1,512,313$517,744$96,788$897,782
12$1,572,806$540,126$100,660$932,020
13$1,635,718$563,403$104,686$967,629
14$1,701,147$587,612$108,873$1,004,661
15$1,769,193$612,789$113,228$1,043,175
16$1,839,960$638,973$117,757$1,083,230
17$1,913,559$666,205$122,468$1,124,887
18$1,990,101$694,525$127,366$1,168,209
19$2,069,705$723,979$132,461$1,213,265
20$2,152,493$754,610$137,760$1,260,124
21$2,238,593$786,467$143,270$1,308,856
22$2,328,137$819,598$149,001$1,359,538
23$2,421,262$854,055$154,961$1,412,247
24$2,518,113$889,889$161,159$1,467,064
25$2,618,837$927,158$167,606$1,524,074
26$2,723,591$965,916$174,310$1,583,365
27$2,832,534$1,006,225$181,282$1,645,027
28$2,945,836$1,048,147$188,533$1,709,155
29$3,063,669$1,091,745$196,075$1,775,849
30$3,186,216$1,137,088$203,918$1,845,211
Total$57,300,000$19,946,631$3,667,200$33,686,169

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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.