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South Carolina Powerball Jackpot Annuity Payout Schedule for Aug 31, 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 $76,500,000 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 31, 2011
Jackpot:$76,500,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,364,003$462,869$87,296$813,838
2$1,418,563$483,056$90,788$844,719
3$1,475,305$504,051$94,420$876,835
4$1,534,317$525,885$98,196$910,236
5$1,595,690$548,593$102,124$944,973
6$1,659,518$572,209$106,209$981,099
7$1,725,898$596,770$110,457$1,018,671
8$1,794,934$622,313$114,876$1,057,745
9$1,866,732$648,878$119,471$1,098,382
10$1,941,401$676,506$124,250$1,140,645
11$2,019,057$705,239$129,220$1,184,599
12$2,099,819$735,121$134,388$1,230,310
13$2,183,812$766,198$139,764$1,277,850
14$2,271,165$798,519$145,355$1,327,291
15$2,362,011$832,132$151,169$1,378,711
16$2,456,492$867,090$157,215$1,432,186
17$2,554,751$903,446$163,504$1,487,801
18$2,656,941$941,256$170,044$1,545,641
19$2,763,219$980,579$176,846$1,605,794
20$2,873,748$1,021,474$183,920$1,668,353
21$2,988,698$1,064,006$191,277$1,733,415
22$3,108,246$1,108,239$198,928$1,801,079
23$3,232,575$1,154,241$206,885$1,871,450
24$3,361,878$1,202,083$215,160$1,944,635
25$3,496,354$1,251,839$223,767$2,020,748
26$3,636,208$1,303,585$232,717$2,099,906
27$3,781,656$1,357,400$242,026$2,182,230
28$3,932,922$1,413,369$251,707$2,267,846
29$4,090,239$1,471,576$261,775$2,356,888
30$4,253,849$1,532,112$272,246$2,449,491
Total$76,500,000$27,050,634$4,896,000$44,553,367

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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.