USA Mega

South Carolina Powerball Jackpot Annuity Payout Schedule for Jan 24, 2015

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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 $235,200,000 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, Jan 24, 2015
Jackpot:$235,200,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,193,639$1,509,834$268,393$2,415,412
2$4,361,385$1,571,900$279,129$2,510,356
3$4,535,840$1,636,449$290,294$2,609,098
4$4,717,274$1,703,579$301,906$2,711,789
5$4,905,965$1,773,395$313,982$2,818,588
6$5,102,203$1,846,003$326,541$2,929,659
7$5,306,292$1,921,516$339,603$3,045,173
8$5,518,543$2,000,049$353,187$3,165,308
9$5,739,285$2,081,723$367,314$3,290,248
10$5,968,856$2,166,665$382,007$3,420,185
11$6,207,611$2,255,004$397,287$3,555,320
12$6,455,915$2,346,876$413,179$3,695,860
13$6,714,152$2,442,424$429,706$3,842,022
14$6,982,718$2,541,793$446,894$3,994,030
15$7,262,026$2,645,138$464,770$4,152,119
16$7,552,507$2,752,616$483,360$4,316,531
17$7,854,608$2,864,393$502,695$4,487,520
18$8,168,792$2,980,641$522,803$4,665,349
19$8,495,544$3,101,539$543,715$4,850,290
20$8,835,366$3,227,273$565,463$5,042,629
21$9,188,780$3,358,036$588,082$5,242,662
22$9,556,331$3,494,030$611,605$5,450,696
23$9,938,585$3,635,464$636,069$5,667,051
24$10,336,128$3,782,555$661,512$5,892,061
25$10,749,573$3,935,530$687,973$6,126,071
26$11,179,556$4,094,623$715,492$6,369,441
27$11,626,738$4,260,081$744,111$6,622,546
28$12,091,808$4,432,157$773,876$6,885,775
29$12,575,480$4,611,115$804,831$7,159,534
30$13,078,499$4,797,233$837,024$7,444,243
Total$235,200,000$85,769,634$15,052,803$134,377,566

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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.