The jackpot for the Powerball draw on Sat Mar 1, 2025, is projected to be $272 Million, with an option for a cash payout of $124.4 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For South Carolina residents, the state will deduct 6.9% from your lottery earnings.
| South Carolina Powerball Jackpot/Cash Option for Sat Mar 1, 2025 |
|---|
| Draw Date | Sat Mar 1, 2025 | | Projected Jackpot | $272,000,000 | | Cash Value | $124,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $124,400,000 | | Federal Tax(24%) | $29,856,000 | | Additional Federal Tax | $16,132,330 | | State Tax(6.9%) | $8,583,600 | | Net Lumpsum Payment | $69,828,070 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,093,872 |
$1,475,063
$282,477 |
$2,336,332 |
| 2 |
$4,298,688 |
$1,550,845
$296,609 |
$2,451,234 |
| 3 |
$4,513,568 |
$1,630,351
$311,436 |
$2,571,781 |
| 4 |
$4,739,328 |
$1,713,882
$327,014 |
$2,698,432 |
| 5 |
$4,976,240 |
$1,801,539
$343,361 |
$2,831,340 |
| 6 |
$5,225,120 |
$1,893,625
$360,533 |
$2,970,962 |
| 7 |
$5,486,240 |
$1,990,239
$378,551 |
$3,117,450 |
| 8 |
$5,760,688 |
$2,091,785
$397,487 |
$3,271,416 |
| 9 |
$6,048,736 |
$2,198,363
$417,363 |
$3,433,010 |
| 10 |
$6,351,200 |
$2,310,274
$438,233 |
$3,602,693 |
| 11 |
$6,668,624 |
$2,427,721
$460,135 |
$3,780,768 |
| 12 |
$7,002,096 |
$2,551,106
$483,145 |
$3,967,845 |
| 13 |
$7,352,160 |
$2,680,630
$507,299 |
$4,164,231 |
| 14 |
$7,719,904 |
$2,816,695
$532,673 |
$4,370,536 |
| 15 |
$8,105,872 |
$2,959,503
$559,305 |
$4,587,064 |
| 16 |
$8,511,152 |
$3,109,457
$587,269 |
$4,814,426 |
| 17 |
$8,936,560 |
$3,266,858
$616,623 |
$5,053,079 |
| 18 |
$9,383,456 |
$3,432,209
$647,458 |
$5,303,789 |
| 19 |
$9,852,656 |
$3,605,813
$679,833 |
$5,567,010 |
| 20 |
$10,345,248 |
$3,788,072
$713,822 |
$5,843,354 |
| 21 |
$10,862,592 |
$3,979,489
$749,519 |
$6,133,584 |
| 22 |
$11,405,776 |
$4,180,468
$786,999 |
$6,438,309 |
| 23 |
$11,975,888 |
$4,391,409
$826,336 |
$6,758,143 |
| 24 |
$12,574,832 |
$4,613,018
$867,663 |
$7,094,151 |
| 25 |
$13,203,424 |
$4,845,597
$911,036 |
$7,446,791 |
| 26 |
$13,863,840 |
$5,089,951
$956,605 |
$7,817,284 |
| 27 |
$14,556,896 |
$5,346,382
$1,004,426 |
$8,206,088 |
| 28 |
$15,284,768 |
$5,615,695
$1,054,649 |
$8,614,424 |
| 29 |
$16,049,088 |
$5,898,493
$1,107,387 |
$9,043,208 |
| 30 |
$16,851,488 |
$6,195,381
$1,162,753 |
$9,493,354 |
|
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