South Carolina Lottery

SCLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Mar 29, 2025 is estimated to be $515 Million, with a cash option of 242.7 Million. If you win the Powerball jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of South Carolina, your state will take 6.9% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

South Carolina Powerball Jackpot/Cash Option for Sat Mar 29, 2025

Draw Date	Jackpot	Cash Option
Sat Mar 29, 2025	$515,000,000	$242,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$242,700,000
Federal Tax(24%)	$58,248,000
Additional Federal Tax	$31,511,330
State Tax(6.9%)	$16,746,300
Net Lumpsum Payment	$136,194,370

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$7,751,265	-$2,828,298 -$534,837	$4,388,130
2	$8,139,060	-$2,971,783 -$561,595	$4,605,682
3	$8,545,910	-$3,122,317 -$589,668	$4,833,925
4	$8,973,360	-$3,280,474 -$619,162	$5,073,724
5	$9,421,925	-$3,446,443 -$650,113	$5,325,369
6	$9,893,150	-$3,620,796 -$682,627	$5,589,727
7	$10,387,550	-$3,803,724 -$716,741	$5,867,085
8	$10,907,185	-$3,995,989 -$752,596	$6,158,600
9	$11,452,570	-$4,197,781 -$790,227	$6,464,562
10	$12,025,250	-$4,409,673 -$829,742	$6,785,835
11	$12,626,255	-$4,632,045 -$871,212	$7,122,998
12	$13,257,645	-$4,865,659 -$914,778	$7,477,208
13	$13,920,450	-$5,110,897 -$960,511	$7,849,042
14	$14,616,730	-$5,368,520 -$1,008,554	$8,239,656
15	$15,347,515	-$5,638,911 -$1,058,979	$8,649,625
16	$16,114,865	-$5,922,830 -$1,111,926	$9,080,109
17	$16,920,325	-$6,220,851 -$1,167,502	$9,531,972
18	$17,766,470	-$6,533,924 -$1,225,886	$10,006,660
19	$18,654,845	-$6,862,623 -$1,287,184	$10,505,038
20	$19,587,510	-$7,207,709 -$1,351,538	$11,028,263
21	$20,567,040	-$7,570,135 -$1,419,126	$11,577,779
22	$21,595,495	-$7,950,664 -$1,490,089	$12,154,742
23	$22,674,935	-$8,350,056 -$1,564,571	$12,760,308
24	$23,808,965	-$8,769,647 -$1,642,819	$13,396,499
25	$24,999,130	-$9,210,008 -$1,724,940	$14,064,182
26	$26,249,550	-$9,672,664 -$1,811,219	$14,765,667
27	$27,561,770	-$10,158,185 -$1,901,762	$15,501,823
28	$28,939,910	-$10,668,097 -$1,996,854	$16,274,959
29	$30,387,060	-$11,203,543 -$2,096,707	$17,086,810
30	$31,906,310	-$11,765,665 -$2,201,535	$17,939,110