USA Mega

South Carolina Powerball Jackpot Annuity Payout Schedule for Aug 24, 2011

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $47,900,000 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, Aug 24, 2011
Jackpot:$47,900,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$854,062$274,191$54,660$525,211
2$888,224$286,831$56,846$544,547
3$923,753$299,976$59,120$564,657
4$960,703$313,648$61,485$585,570
5$999,131$327,866$63,944$607,321
6$1,039,097$342,654$66,502$629,941
7$1,080,661$358,032$69,162$653,466
8$1,123,887$374,026$71,929$677,932
9$1,168,842$390,659$74,806$703,377
10$1,215,596$407,958$77,798$729,840
11$1,264,220$425,949$80,910$757,361
12$1,314,789$444,660$84,146$785,983
13$1,367,380$464,118$87,512$815,750
14$1,422,076$484,356$91,013$846,707
15$1,478,959$505,402$94,653$878,903
16$1,538,117$527,291$98,439$912,386
17$1,599,642$550,055$102,377$947,209
18$1,663,627$573,730$106,472$983,425
19$1,730,172$598,352$110,731$1,021,090
20$1,799,379$623,958$115,160$1,060,261
21$1,871,354$650,589$119,767$1,100,999
22$1,946,209$678,285$124,557$1,143,366
23$2,024,057$707,089$129,540$1,187,429
24$2,105,019$737,045$134,721$1,233,253
25$2,189,220$768,199$140,110$1,280,911
26$2,276,789$800,600$145,714$1,330,475
27$2,367,860$834,296$151,543$1,382,021
28$2,462,575$869,340$157,605$1,435,630
29$2,561,078$905,787$163,909$1,491,382
30$2,663,521$943,690$170,465$1,549,365
Total$47,900,000$16,468,632$3,065,596$28,365,768

◄ Back to Jackpot Analysis

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.