USA Mega

South Carolina Powerball Jackpot Annuity Payout Schedule for Nov 23, 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 $32,200,000 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 prize money, as well as deductions claimed.

State:

South Carolina

Drawing Date:Wed, Nov 23, 2022
Jackpot:$32,200,000
Federal Tax:37% marginal rate
State Tax: 6.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$484,656$143,383$31,503$309,771
2$508,889$151,864$33,078$323,947
3$534,333$160,770$34,732$338,832
4$561,050$170,544$36,468$354,038
5$589,103$180,923$38,292$369,888
6$618,558$191,821$40,206$386,530
7$649,486$203,265$42,217$404,004
8$681,960$215,280$44,327$422,352
9$716,058$227,896$46,544$441,618
10$751,861$241,144$48,871$461,846
11$789,454$255,053$51,315$483,086
12$828,927$269,658$53,880$505,389
13$870,373$284,993$56,574$528,806
14$913,892$301,095$59,403$553,394
15$959,586$318,002$62,373$579,211
16$1,007,565$335,754$65,492$606,319
17$1,057,944$354,394$68,766$634,783
18$1,110,841$373,966$72,205$664,670
19$1,166,383$394,517$75,815$696,051
20$1,224,702$416,095$79,606$729,002
21$1,285,937$438,752$83,586$763,600
22$1,350,234$462,542$87,765$799,927
23$1,417,746$487,521$92,153$838,071
24$1,488,633$513,749$96,761$878,123
25$1,563,065$541,289$101,599$920,177
26$1,641,218$570,206$106,679$964,333
27$1,723,279$600,568$112,013$1,010,698
28$1,809,443$632,449$117,614$1,059,380
29$1,899,915$665,924$123,494$1,110,497
30$1,994,911$701,072$129,669$1,164,170
Total$32,200,000$10,804,489$2,093,000$19,302,513

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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.