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South Carolina Powerball Jackpot Annuity Payout Schedule for Jan 13, 2021

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The tax information provided here is based on 2021 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 $550,000,000 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 prize money, as well as deductions claimed.

South Carolina

Federal Filing Status:

Year Gross Payment Federal Taxes State Taxes Net Payment
1 $8,278,289 $3,027,039 $579,480 $4,671,770
2 $8,692,204 $3,180,188 $608,454 $4,903,562
3 $9,126,814 $3,340,993 $638,877 $5,146,944
4 $9,583,155 $3,509,840 $670,821 $5,402,494
5 $10,062,312 $3,687,128 $704,362 $5,670,823
6 $10,565,428 $3,873,281 $739,580 $5,952,567
7 $11,093,700 $4,068,741 $776,559 $6,248,400
8 $11,648,385 $4,273,975 $815,387 $6,559,023
9 $12,230,804 $4,489,470 $856,156 $6,885,178
10 $12,842,344 $4,715,739 $898,964 $7,227,640
11 $13,484,461 $4,953,323 $943,912 $7,587,226
12 $14,158,684 $5,202,785 $991,108 $7,964,791
13 $14,866,618 $5,464,721 $1,040,663 $8,361,234
14 $15,609,949 $5,739,753 $1,092,696 $8,777,499
15 $16,390,447 $6,028,537 $1,147,331 $9,214,578
16 $17,209,969 $6,331,761 $1,204,698 $9,673,510
17 $18,070,467 $6,650,145 $1,264,933 $10,155,389
18 $18,973,991 $6,984,449 $1,328,179 $10,661,363
19 $19,922,690 $7,335,468 $1,394,588 $11,192,634
20 $20,918,825 $7,704,037 $1,464,318 $11,750,470
21 $21,964,766 $8,091,036 $1,537,534 $12,336,197
22 $23,063,004 $8,497,384 $1,614,410 $12,951,210
23 $24,216,155 $8,924,049 $1,695,131 $13,596,974
24 $25,426,962 $9,372,048 $1,779,887 $14,275,026
25 $26,698,310 $9,842,447 $1,868,882 $14,986,981
26 $28,033,226 $10,336,366 $1,962,326 $15,734,534
27 $29,434,887 $10,854,981 $2,060,442 $16,519,465
28 $30,906,631 $11,399,526 $2,163,464 $17,343,641
29 $32,451,963 $11,971,299 $2,271,637 $18,209,027
30 $34,074,561 $12,571,660 $2,385,219 $19,117,682
Total $550,000,001 $202,422,169 $38,499,998 $309,077,832

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.

Powerball annuity chart shows the annual net payout a South Carolina jackpot winner would get after federal and state taxes.

Sc powerball payout

South Carolina Lottery Information – Powerball

What you need to know about the South Carolina Lottery Powerball game.

Did you know? Powerball is played in 27 states, the District of Columbia, and the U.S. Virgin Islands. The Powerball drawing held on February 18,2006 for $365 million was the largest Powerball jackpot ever won, and the second largest Lottery jackpot ever won worldwide.

Power Ball Current numbers & South Carolina Lottery Powerball game winners

Includes instructions. Be the next South Carolina Lottery Powerball game winner.

Powerball Information

Powerball is a lotto game which is a combined large jackpot game and a cash game. Every Wednesday and Saturday night at 22:59 USA Eastern Time, five white balls are drawn out of a drum with 53 balls and one red ball out of a drum with 42 red balls. Power Ball players win by matching one of the 9 ways to win. The jackpot is won by matching all five white balls in any order and the red PowerBall. The second prize (won by matching five white balls in any order) is US $100,000 paid in cash. There are 7 more tiers of prizes for a total of 9 tiers, more than any lottery in Europe or Asia. Any time you match the red Power Ball, you win. The overall odds of winning a prize in the game is better than 1 in 36.

Jackpots

Minimum per draw – US $10 Million
Average per draw – US $25 Million
Largest Jackpot – US $103.5 Million (Sept 14th,2002)
Annual Payout – Over One Billion US Dollars Per Year
Winners Per Week – Over 650,000

Powerball Payout Method and Taxes
Jackpot is lump sum or 29 year annuity. All other prizes paid lump sum in cash including US $100,000 second prizes. Winnings subject to US taxes but are refunded to residents of countries with USA tax treaties, over 100 countries worldwide.

Power ball – Prizes and Odds

Powerball information from South Carolina Lottery Information