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South Carolina Powerball Jackpot Annuity Payout Schedule for Jul 13, 2024

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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 $54,800,000 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, Jul 13, 2024
Jackpot:$54,800,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$824,819$263,371$52,788$508,660
2$866,060$278,630$55,428$532,002
3$909,363$294,652$58,199$556,511
4$954,831$311,475$61,109$582,246
5$1,002,572$329,139$64,165$609,268
6$1,052,701$347,687$67,373$637,641
7$1,105,336$367,162$70,741$667,432
8$1,160,603$387,611$74,279$698,713
9$1,218,633$409,082$77,992$731,558
10$1,279,564$431,627$81,892$766,046
11$1,343,543$455,299$85,987$802,257
12$1,410,720$480,154$90,286$840,280
13$1,481,256$506,252$94,800$880,203
14$1,555,319$533,656$99,540$922,123
15$1,633,084$562,429$104,517$966,138
16$1,714,739$592,641$109,743$1,012,354
17$1,800,476$624,364$115,230$1,060,881
18$1,890,499$657,673$120,992$1,111,835
19$1,985,024$692,647$127,042$1,165,336
20$2,084,276$729,370$133,394$1,221,512
21$2,188,489$767,929$140,063$1,280,497
22$2,297,914$808,416$147,066$1,342,432
23$2,412,810$850,927$154,420$1,407,462
24$2,533,450$895,564$162,141$1,475,745
25$2,660,123$942,433$170,248$1,547,442
26$2,793,129$991,645$178,760$1,622,723
27$2,932,785$1,043,318$187,698$1,701,769
28$3,079,424$1,097,575$197,083$1,784,766
29$3,233,396$1,154,544$206,937$1,871,914
30$3,395,065$1,214,362$217,284$1,963,419
Total$54,800,000$19,021,634$3,507,197$32,271,165

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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.