USA Mega

South Carolina Powerball Jackpot Annuity Payout Schedule for Jun 5, 2021

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The tax information provided here is based on 2021 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 $285,600,000 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 prize money, as well as deductions claimed.

State:

South Carolina

Drawing Date:Sat, Jun 5, 2021
Jackpot:$285,600,000
Federal Tax:37% marginal rate
State Tax: 7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,298,690$1,554,587$300,908$2,443,194
2$4,513,624$1,634,113$315,954$2,563,557
3$4,739,306$1,717,615$331,751$2,689,939
4$4,976,271$1,805,293$348,339$2,822,639
5$5,225,084$1,897,353$365,756$2,961,975
6$5,486,339$1,994,018$384,044$3,108,277
7$5,760,656$2,095,515$403,246$3,261,895
8$6,048,688$2,202,087$423,408$3,423,193
9$6,351,123$2,313,988$444,579$3,592,557
10$6,668,679$2,431,483$466,808$3,770,388
11$7,002,113$2,554,854$490,148$3,957,111
12$7,352,219$2,684,393$514,655$4,153,170
13$7,719,829$2,820,409$540,388$4,359,032
14$8,105,821$2,963,226$567,407$4,575,187
15$8,511,112$3,113,184$595,778$4,802,150
16$8,936,668$3,270,639$625,567$5,040,462
17$9,383,501$3,435,968$656,845$5,290,688
18$9,852,676$3,609,562$689,687$5,553,426
19$10,345,310$3,791,837$724,172$5,829,301
20$10,862,575$3,983,225$760,380$6,118,970
21$11,405,704$4,184,183$798,399$6,423,122
22$11,975,989$4,395,188$838,319$6,742,482
23$12,574,789$4,616,744$880,235$7,077,809
24$13,203,528$4,849,378$924,247$7,429,903
25$13,863,704$5,093,643$970,459$7,799,602
26$14,556,890$5,350,121$1,018,982$8,187,786
27$15,284,734$5,619,424$1,069,931$8,595,379
28$16,048,971$5,902,191$1,123,428$9,023,351
29$16,851,419$6,199,097$1,179,599$9,472,723
30$17,693,990$6,510,849$1,238,579$9,944,562
Total$285,600,001$104,594,167$19,991,998$161,013,830

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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.