South Carolina Lottery

SCLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Oct 24, 2026 is estimated to be $674 Million, with a cash option of 283.9 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 Oct 24, 2026

Draw Date	Jackpot	Cash Option
Sat Oct 24, 2026	$674,000,000	$283,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$283,900,000
Federal Tax(24%)	$68,136,000
Additional Federal Tax	$36,867,330
State Tax(6.9%)	$19,589,100
Net Lumpsum Payment	$159,307,570

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$10,144,374	-$3,713,749 -$699,962	$5,730,663
2	$10,651,896	-$3,901,532 -$734,981	$6,015,383
3	$11,184,356	-$4,098,542 -$771,721	$6,314,093
4	$11,743,776	-$4,305,528 -$810,321	$6,627,927
5	$12,330,830	-$4,522,737 -$850,827	$6,957,266
6	$12,947,540	-$4,750,920 -$893,380	$7,303,240
7	$13,594,580	-$4,990,325 -$938,026	$7,666,229
8	$14,274,646	-$5,241,949 -$984,951	$8,047,746
9	$14,988,412	-$5,506,043 -$1,034,200	$8,448,169
10	$15,737,900	-$5,783,353 -$1,085,915	$8,868,632
11	$16,524,458	-$6,074,380 -$1,140,188	$9,309,890
12	$17,350,782	-$6,380,120 -$1,197,204	$9,773,458
13	$18,218,220	-$6,701,072 -$1,257,057	$10,260,091
14	$19,129,468	-$7,038,234 -$1,319,933	$10,771,301
15	$20,085,874	-$7,392,104 -$1,385,925	$11,307,845
16	$21,090,134	-$7,763,680 -$1,455,219	$11,871,235
17	$22,144,270	-$8,153,710 -$1,527,955	$12,462,605
18	$23,251,652	-$8,563,442 -$1,604,364	$13,083,846
19	$24,414,302	-$8,993,622 -$1,684,587	$13,736,093
20	$25,634,916	-$9,445,249 -$1,768,809	$14,420,858
21	$26,916,864	-$9,919,570 -$1,857,264	$15,140,030
22	$28,262,842	-$10,417,582 -$1,950,136	$15,895,124
23	$29,675,546	-$10,940,282 -$2,047,613	$16,687,651
24	$31,159,694	-$11,489,417 -$2,150,019	$17,520,258
25	$32,717,308	-$12,065,734 -$2,257,494	$18,394,080
26	$34,353,780	-$12,671,229 -$2,370,411	$19,312,140
27	$36,071,132	-$13,306,649 -$2,488,908	$20,275,575
28	$37,874,756	-$13,973,990 -$2,613,358	$21,287,408
29	$39,768,696	-$14,674,748 -$2,744,040	$22,349,908
30	$41,756,996	-$15,410,419 -$2,881,233	$23,465,344