South Carolina Lottery

SCLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Aug 26, 2026 is estimated to be $96 Million, with a cash option of 41.2 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 Wed Aug 26, 2026

Draw Date	Jackpot	Cash Option
Wed Aug 26, 2026	$96,000,000	$41,200,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$41,200,000
Federal Tax(24%)	$9,888,000
Additional Federal Tax	$5,316,330
State Tax(6.9%)	$2,842,800
Net Lumpsum Payment	$23,152,870

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,444,896	-$494,942 -$99,698	$850,256
2	$1,517,184	-$521,688 -$104,686	$890,810
3	$1,593,024	-$549,749 -$109,919	$933,356
4	$1,672,704	-$579,231 -$115,417	$978,056
5	$1,756,320	-$610,169 -$121,186	$1,024,965
6	$1,844,160	-$642,670 -$127,247	$1,074,243
7	$1,936,320	-$676,769 -$133,606	$1,125,945
8	$2,033,184	-$712,608 -$140,290	$1,180,286
9	$2,134,848	-$750,224 -$147,305	$1,237,319
10	$2,241,600	-$789,722 -$154,670	$1,297,208
11	$2,353,632	-$831,174 -$162,401	$1,360,057
12	$2,471,328	-$874,722 -$170,522	$1,426,084
13	$2,594,880	-$920,436 -$179,047	$1,495,397
14	$2,724,672	-$968,459 -$188,002	$1,568,211
15	$2,860,896	-$1,018,862 -$197,402	$1,644,632
16	$3,003,936	-$1,071,787 -$207,272	$1,724,877
17	$3,154,080	-$1,127,340 -$217,632	$1,809,108
18	$3,311,808	-$1,185,699 -$228,515	$1,897,594
19	$3,477,408	-$1,246,971 -$239,941	$1,990,496
20	$3,651,264	-$1,311,298 -$251,937	$2,088,029
21	$3,833,856	-$1,378,857 -$264,536	$2,190,463
22	$4,025,568	-$1,449,791 -$277,764	$2,298,013
23	$4,226,784	-$1,524,240 -$291,648	$2,410,896
24	$4,438,176	-$1,602,456 -$306,234	$2,529,486
25	$4,660,032	-$1,684,542 -$321,542	$2,653,948
26	$4,893,120	-$1,770,785 -$337,625	$2,784,710
27	$5,137,728	-$1,861,290 -$354,503	$2,921,935
28	$5,394,624	-$1,956,341 -$372,229	$3,066,054
29	$5,664,384	-$2,056,152 -$390,842	$3,217,390
30	$5,947,584	-$2,160,936 -$410,383	$3,376,265