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South Carolina Powerball Jackpot Annuity Payout Schedule for Dec 5, 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 $89,200,000 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:Mon, Dec 5, 2022
Jackpot:$89,200,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,342,588$454,945$85,926$801,717
2$1,409,717$479,783$90,222$839,712
3$1,480,203$505,863$94,733$879,607
4$1,554,213$533,247$99,470$921,497
5$1,631,924$562,000$104,443$965,481
6$1,713,520$592,190$109,665$1,011,665
7$1,799,196$623,890$115,149$1,060,157
8$1,889,156$657,176$120,906$1,111,075
9$1,983,614$692,125$126,951$1,164,538
10$2,082,795$728,822$133,299$1,220,674
11$2,186,934$767,353$139,964$1,279,617
12$2,296,281$807,812$146,962$1,341,507
13$2,411,095$850,293$154,310$1,406,492
14$2,531,650$894,898$162,026$1,474,726
15$2,658,232$941,734$170,127$1,546,372
16$2,791,144$990,911$178,633$1,621,600
17$2,930,701$1,042,547$187,565$1,700,589
18$3,077,236$1,096,765$196,943$1,783,528
19$3,231,098$1,153,694$206,790$1,870,614
20$3,392,653$1,213,469$217,130$1,962,054
21$3,562,286$1,276,233$227,986$2,058,066
22$3,740,400$1,342,136$239,386$2,158,879
23$3,927,420$1,411,333$251,355$2,264,732
24$4,123,791$1,483,990$263,923$2,375,878
25$4,329,980$1,560,281$277,119$2,492,581
26$4,546,480$1,640,385$290,975$2,615,120
27$4,773,804$1,724,495$305,523$2,743,785
28$5,012,494$1,812,810$320,800$2,878,884
29$5,263,118$1,905,542$336,840$3,020,737
30$5,526,274$2,002,909$353,682$3,169,684
Total$89,200,000$31,749,631$5,708,803$51,741,568

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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.