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South Carolina Powerball Jackpot Annuity Payout Schedule for Nov 30, 2022

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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 $65,600,000 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 money, as well as deductions claimed.

State:

South Carolina

Drawing Date:Wed, Nov 30, 2022
Jackpot:$65,600,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$987,374$323,516$63,192$600,666
2$1,036,743$341,783$66,352$628,609
3$1,088,580$360,962$69,669$657,949
4$1,143,009$381,101$73,153$688,755
5$1,200,159$402,247$76,810$721,102
6$1,260,167$424,450$80,651$755,067
7$1,323,176$447,763$84,683$790,730
8$1,389,335$472,242$88,917$828,176
9$1,458,801$497,944$93,363$867,494
10$1,531,741$524,932$98,031$908,778
11$1,608,328$553,269$102,933$952,126
12$1,688,745$583,023$108,080$997,642
13$1,773,182$614,265$113,484$1,045,433
14$1,861,841$647,069$119,158$1,095,614
15$1,954,933$681,513$125,116$1,148,304
16$2,052,680$717,679$131,372$1,203,629
17$2,155,314$755,654$137,940$1,261,720
18$2,263,080$795,527$144,837$1,322,715
19$2,376,234$837,394$152,079$1,386,760
20$2,495,045$881,355$159,683$1,454,008
21$2,619,798$927,513$167,667$1,524,618
22$2,750,787$975,979$176,050$1,598,758
23$2,888,327$1,026,869$184,853$1,676,605
24$3,032,743$1,080,303$194,096$1,758,345
25$3,184,380$1,136,408$203,800$1,844,171
26$3,343,599$1,195,320$213,990$1,934,289
27$3,510,779$1,257,176$224,690$2,028,913
28$3,686,318$1,322,125$235,924$2,128,268
29$3,870,634$1,390,322$247,721$2,232,591
30$4,064,166$1,461,929$260,107$2,342,130
Total$65,600,000$23,017,632$4,198,401$38,383,965

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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.