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South Carolina Powerball Jackpot Annuity Payout Schedule for Jan 5, 2022

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The tax information provided here is based on 2022 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 $632,600,000 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:Wed, Jan 5, 2022
Jackpot:$632,600,000
Federal Tax:37% marginal rate
State Tax: 7%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,521,538$3,485,924$666,508$5,369,106
2$9,997,615$3,662,072$699,833$5,635,709
3$10,497,495$3,847,028$734,825$5,915,642
4$11,022,371$4,041,232$771,566$6,209,572
5$11,573,488$4,245,146$810,144$6,518,199
6$12,152,163$4,459,255$850,651$6,842,256
7$12,759,772$4,684,071$893,184$7,182,517
8$13,397,760$4,920,126$937,843$7,539,791
9$14,067,648$5,167,985$984,735$7,914,928
10$14,771,030$5,428,236$1,033,972$8,308,822
11$15,509,582$5,701,500$1,085,671$8,722,411
12$16,285,061$5,988,428$1,139,954$9,156,679
13$17,099,314$6,289,701$1,196,952$9,612,661
14$17,954,280$6,606,039$1,256,800$10,091,442
15$18,851,994$6,938,193$1,319,640$10,594,161
16$19,794,594$7,286,955$1,385,622$11,122,017
17$20,784,323$7,653,154$1,454,903$11,676,266
18$21,823,539$8,037,664$1,527,648$12,258,227
19$22,914,716$8,441,400$1,604,030$12,869,286
20$24,060,452$8,865,322$1,684,232$13,510,898
21$25,263,474$9,310,441$1,768,443$14,184,591
22$26,526,648$9,777,815$1,856,865$14,891,968
23$27,852,981$10,268,558$1,949,709$15,634,714
24$29,245,629$10,783,838$2,047,194$16,414,597
25$30,707,911$11,324,882$2,149,554$17,233,475
26$32,243,307$11,892,979$2,257,031$18,093,297
27$33,855,472$12,489,480$2,369,883$18,996,109
28$35,548,245$13,115,806$2,488,377$19,944,062
29$37,325,658$13,773,448$2,612,796$20,939,413
30$39,191,941$14,463,973$2,743,436$21,984,532
Total$632,600,001$232,950,651$44,282,001$355,367,348

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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.