USA Mega

South Carolina Powerball Jackpot Annuity Payout Schedule for Dec 18, 2023

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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 $544,400,000 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 18, 2023
Jackpot:$544,400,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$8,194,001$2,989,968$524,416$4,679,617
2$8,603,701$3,141,557$550,637$4,911,507
3$9,033,886$3,300,726$578,169$5,154,992
4$9,485,581$3,467,853$607,077$5,410,651
5$9,959,860$3,643,336$637,431$5,679,093
6$10,457,853$3,827,593$669,303$5,960,957
7$10,980,746$4,021,064$702,768$6,256,914
8$11,529,783$4,224,207$737,906$6,567,669
9$12,106,272$4,437,508$774,801$6,893,962
10$12,711,585$4,661,474$813,541$7,236,570
11$13,347,165$4,896,639$854,219$7,596,308
12$14,014,523$5,143,561$896,929$7,974,032
13$14,715,249$5,402,830$941,776$8,370,643
14$15,451,012$5,675,062$988,865$8,787,085
15$16,223,562$5,960,906$1,038,308$9,224,348
16$17,034,740$6,261,042$1,090,223$9,683,475
17$17,886,477$6,576,184$1,144,735$10,165,558
18$18,780,801$6,907,084$1,201,971$10,671,746
19$19,719,841$7,254,529$1,262,070$11,203,242
20$20,705,833$7,619,346$1,325,173$11,761,314
21$21,741,125$8,002,404$1,391,432$12,347,289
22$22,828,181$8,404,615$1,461,004$12,962,563
23$23,969,590$8,826,936$1,534,054$13,608,600
24$25,168,069$9,270,373$1,610,756$14,286,939
25$26,426,473$9,735,983$1,691,294$14,999,196
26$27,747,797$10,224,873$1,775,859$15,747,065
27$29,135,187$10,738,207$1,864,652$16,532,328
28$30,591,946$11,277,208$1,957,885$17,356,853
29$32,121,543$11,843,159$2,055,779$18,222,606
30$33,727,620$12,437,407$2,158,568$19,131,645
Total$544,400,001$200,173,634$34,841,601$309,384,767

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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.