The jackpot for the Powerball draw on Sat Nov 23, 2024, is projected to be $171 Million, with an option for a cash payout of $78.7 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 Nov 23, 2024 |
|---|
| Draw Date | Sat Nov 23, 2024 | | Projected Jackpot | $171,000,000 | | Cash Value | $78,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $78,700,000 | | Federal Tax(24%) | $18,888,000 | | Additional Federal Tax | $10,191,330 | | State Tax(6.9%) | $5,430,300 | | Net Lumpsum Payment | $44,190,370 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,573,721 |
$912,607
$177,587 |
$1,483,527 |
| 2 |
$2,702,484 |
$960,249
$186,471 |
$1,555,764 |
| 3 |
$2,837,574 |
$1,010,233
$195,793 |
$1,631,548 |
| 4 |
$2,979,504 |
$1,062,747
$205,586 |
$1,711,171 |
| 5 |
$3,128,445 |
$1,117,855
$215,863 |
$1,794,727 |
| 6 |
$3,284,910 |
$1,175,747
$226,659 |
$1,882,504 |
| 7 |
$3,449,070 |
$1,236,486
$237,986 |
$1,974,598 |
| 8 |
$3,621,609 |
$1,300,326
$249,891 |
$2,071,392 |
| 9 |
$3,802,698 |
$1,367,329
$262,386 |
$2,172,983 |
| 10 |
$3,992,850 |
$1,437,685
$275,507 |
$2,279,658 |
| 11 |
$4,192,407 |
$1,511,521
$289,276 |
$2,391,610 |
| 12 |
$4,402,053 |
$1,589,090
$303,742 |
$2,509,221 |
| 13 |
$4,622,130 |
$1,670,518
$318,927 |
$2,632,685 |
| 14 |
$4,853,322 |
$1,756,060
$334,879 |
$2,762,383 |
| 15 |
$5,095,971 |
$1,845,840
$351,622 |
$2,898,509 |
| 16 |
$5,350,761 |
$1,940,112
$369,203 |
$3,041,446 |
| 17 |
$5,618,205 |
$2,039,066
$387,656 |
$3,191,483 |
| 18 |
$5,899,158 |
$2,143,019
$407,042 |
$3,349,097 |
| 19 |
$6,194,133 |
$2,252,160
$427,395 |
$3,514,578 |
| 20 |
$6,503,814 |
$2,366,742
$448,763 |
$3,688,309 |
| 21 |
$6,829,056 |
$2,487,081
$471,205 |
$3,870,770 |
| 22 |
$7,170,543 |
$2,613,431
$494,767 |
$4,062,345 |
| 23 |
$7,528,959 |
$2,746,045
$519,498 |
$4,263,416 |
| 24 |
$7,905,501 |
$2,885,366
$545,480 |
$4,474,655 |
| 25 |
$8,300,682 |
$3,031,583
$572,747 |
$4,696,352 |
| 26 |
$8,715,870 |
$3,185,202
$601,395 |
$4,929,273 |
| 27 |
$9,151,578 |
$3,346,414
$631,459 |
$5,173,705 |
| 28 |
$9,609,174 |
$3,515,725
$663,033 |
$5,430,416 |
| 29 |
$10,089,684 |
$3,693,513
$696,188 |
$5,699,983 |
| 30 |
$10,594,134 |
$3,880,160
$730,995 |
$5,982,979 |
|
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