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South Carolina Powerball Jackpot Annuity Payout Schedule for Feb 24, 2024

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The tax information provided here is based on 2025 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 $375,900,000 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:Sat, Feb 24, 2024
Jackpot:$375,900,000
Federal Tax:37% marginal rate
State Tax: 6.2%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,657,834$2,050,419$350,786$3,256,630
2$5,940,726$2,155,089$368,325$3,417,312
3$6,237,762$2,264,992$386,741$3,586,029
4$6,549,651$2,380,391$406,078$3,763,181
5$6,877,133$2,501,559$426,382$3,949,191
6$7,220,990$2,628,786$447,701$4,144,502
7$7,582,039$2,762,375$470,086$4,349,578
8$7,961,141$2,902,643$493,591$4,564,908
9$8,359,198$3,049,924$518,270$4,791,004
10$8,777,158$3,204,569$544,184$5,028,406
11$9,216,016$3,366,946$571,393$5,277,677
12$9,676,817$3,537,443$599,963$5,539,412
13$10,160,658$3,716,464$629,961$5,814,233
14$10,668,691$3,904,436$661,459$6,102,796
15$11,202,125$4,101,807$694,532$6,405,787
16$11,762,232$4,309,046$729,258$6,723,927
17$12,350,343$4,526,647$765,721$7,057,975
18$12,967,860$4,755,129$804,007$7,408,724
19$13,616,253$4,995,034$844,208$7,777,012
20$14,297,066$5,246,935$886,418$8,163,713
21$15,011,919$5,511,430$930,739$8,569,750
22$15,762,515$5,789,151$977,276$8,996,088
23$16,550,641$6,080,757$1,026,140$9,443,744
24$17,378,173$6,386,944$1,077,447$9,913,782
25$18,247,081$6,708,440$1,131,319$10,407,322
26$19,159,436$7,046,011$1,187,885$10,925,539
27$20,117,408$7,400,461$1,247,279$11,469,667
28$21,123,278$7,772,633$1,309,643$12,041,001
29$22,179,442$8,163,414$1,375,125$12,640,903
30$23,288,414$8,573,733$1,443,882$13,270,799
Total$375,900,001$137,793,608$23,305,799$214,800,592

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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.