South Carolina Lottery

SCLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat May 17, 2025 is estimated to be $123 Million, with a cash option of 55.9 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 May 17, 2025

Draw Date	Jackpot	Cash Option
Sat May 17, 2025	$123,000,000	$55,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$55,900,000
Federal Tax(24%)	$13,416,000
Additional Federal Tax	$7,227,330
State Tax(6.9%)	$3,857,100
Net Lumpsum Payment	$31,399,570

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,851,273	-$645,301 -$127,738	$1,078,234
2	$1,943,892	-$679,570 -$134,129	$1,130,193
3	$2,041,062	-$715,523 -$140,833	$1,184,706
4	$2,143,152	-$753,297 -$147,877	$1,241,978
5	$2,250,285	-$792,936 -$155,270	$1,302,079
6	$2,362,830	-$834,577 -$163,035	$1,365,218
7	$2,480,910	-$878,267 -$171,183	$1,431,460
8	$2,605,017	-$924,187 -$179,746	$1,501,084
9	$2,735,274	-$972,382 -$188,734	$1,574,158
10	$2,872,050	-$1,022,989 -$198,171	$1,650,890
11	$3,015,591	-$1,076,099 -$208,076	$1,731,416
12	$3,166,389	-$1,131,894 -$218,481	$1,816,014
13	$3,324,690	-$1,190,466 -$229,404	$1,904,820
14	$3,490,986	-$1,251,995 -$240,878	$1,998,113
15	$3,665,523	-$1,316,574 -$252,921	$2,096,028
16	$3,848,793	-$1,384,384 -$265,567	$2,198,842
17	$4,041,165	-$1,455,561 -$278,840	$2,306,764
18	$4,243,254	-$1,530,334 -$292,785	$2,420,135
19	$4,455,429	-$1,608,839 -$307,425	$2,539,165
20	$4,678,182	-$1,691,258 -$322,795	$2,664,129
21	$4,912,128	-$1,777,818 -$338,937	$2,795,373
22	$5,157,759	-$1,868,701 -$355,885	$2,933,173
23	$5,415,567	-$1,964,090 -$373,674	$3,077,803
24	$5,686,413	-$2,064,303 -$392,362	$3,229,748
25	$5,970,666	-$2,169,477 -$411,976	$3,389,213
26	$6,269,310	-$2,279,975 -$432,582	$3,556,753
27	$6,582,714	-$2,395,935 -$454,207	$3,732,572
28	$6,911,862	-$2,517,719 -$476,918	$3,917,225
29	$7,257,492	-$2,645,602 -$500,767	$4,111,123
30	$7,620,342	-$2,779,857 -$525,804	$4,314,681