USA Mega

South Carolina Powerball Jackpot Annuity Payout Schedule for May 25, 2013

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The tax information provided here is based on 2025 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 $50,000,000 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:Sat, May 25, 2013
Jackpot:$50,000,000
Federal Tax:37% marginal rate
State Tax: 6.2%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$891,505$286,877$55,273$549,355
2$927,165$300,071$57,484$569,610
3$964,252$313,793$59,784$590,675
4$1,002,822$328,064$62,175$612,583
5$1,042,935$342,906$64,662$635,367
6$1,084,652$358,342$67,248$659,062
7$1,128,038$374,394$69,938$683,705
8$1,173,160$391,089$72,736$709,334
9$1,220,086$408,452$75,645$735,989
10$1,268,890$426,509$78,671$763,709
11$1,319,645$445,289$81,818$792,538
12$1,372,431$464,820$85,091$822,521
13$1,427,328$485,132$88,494$853,702
14$1,484,421$506,256$92,034$886,131
15$1,543,798$528,226$95,715$919,857
16$1,605,550$551,074$99,544$954,932
17$1,669,772$574,836$103,526$991,410
18$1,736,563$599,549$107,667$1,029,348
19$1,806,025$625,250$111,974$1,068,802
20$1,878,266$651,979$116,453$1,109,835
21$1,953,397$679,777$121,111$1,152,509
22$2,031,533$708,687$125,955$1,196,891
23$2,112,794$738,754$130,993$1,243,047
24$2,197,306$770,024$136,233$1,291,050
25$2,285,198$802,544$141,682$1,340,972
26$2,376,606$836,365$147,350$1,392,892
27$2,471,671$871,538$153,244$1,446,889
28$2,570,537$908,119$159,373$1,503,045
29$2,673,359$946,163$165,748$1,561,448
30$2,780,293$985,729$172,378$1,622,186
Total$50,000,000$17,210,608$3,099,999$29,689,394

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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.