USA Mega

South Carolina Powerball Jackpot Annuity Payout Schedule for Sep 18, 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 $176,300,000 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, Sep 18, 2024
Jackpot:$176,300,000
Federal Tax:37% marginal rate
State Tax: 6.4%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,653,568$940,008$169,828$1,543,732
2$2,786,246$989,099$178,320$1,618,828
3$2,925,559$1,040,644$187,236$1,697,678
4$3,071,837$1,094,767$196,598$1,780,472
5$3,225,428$1,151,596$206,427$1,867,405
6$3,386,700$1,211,267$216,749$1,958,684
7$3,556,035$1,273,921$227,586$2,054,528
8$3,733,837$1,339,707$238,966$2,155,164
9$3,920,529$1,408,783$250,914$2,260,831
10$4,116,555$1,481,313$263,460$2,371,782
11$4,322,383$1,557,469$276,632$2,488,281
12$4,538,502$1,637,433$290,464$2,610,604
13$4,765,427$1,721,396$304,987$2,739,044
14$5,003,698$1,809,556$320,237$2,873,905
15$5,253,883$1,902,125$336,249$3,015,510
16$5,516,577$1,999,321$353,061$3,164,195
17$5,792,406$2,101,378$370,714$3,320,314
18$6,082,026$2,208,538$389,250$3,484,239
19$6,386,128$2,321,055$408,712$3,656,361
20$6,705,434$2,439,198$429,148$3,837,088
21$7,040,706$2,563,249$450,605$4,026,852
22$7,392,741$2,693,502$473,135$4,226,104
23$7,762,378$2,830,268$496,792$4,435,318
24$8,150,497$2,973,872$521,632$4,654,994
25$8,558,022$3,124,656$547,713$4,885,653
26$8,985,923$3,282,979$575,099$5,127,845
27$9,435,219$3,449,219$603,854$5,382,146
28$9,906,980$3,623,770$634,047$5,649,163
29$10,402,329$3,807,050$665,749$5,929,531
30$10,922,446$3,999,493$699,037$6,223,917
Total$176,300,000$63,976,632$11,283,201$101,040,168

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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.