The jackpot for the Powerball draw on Sat Jul 4, 2026, is projected to be $396 Million, with an option for a cash payout of $180.2 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 Jul 4, 2026 |
|---|
| Draw Date | Sat Jul 4, 2026 | | Projected Jackpot | $396,000,000 | | Cash Value | $180,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $180,200,000 | | Federal Tax(24%) | $43,248,000 | | Additional Federal Tax | $23,386,330 | | State Tax(6.9%) | $12,433,800 | | Net Lumpsum Payment | $101,131,870 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,960,196 |
$2,165,603
$411,254 |
$3,383,339 |
| 2 |
$6,258,384 |
$2,275,932
$431,828 |
$3,550,624 |
| 3 |
$6,571,224 |
$2,391,683
$453,414 |
$3,726,127 |
| 4 |
$6,899,904 |
$2,513,295
$476,093 |
$3,910,516 |
| 5 |
$7,244,820 |
$2,640,914
$499,893 |
$4,104,013 |
| 6 |
$7,607,160 |
$2,774,980
$524,894 |
$4,307,286 |
| 7 |
$7,987,320 |
$2,915,639
$551,125 |
$4,520,556 |
| 8 |
$8,386,884 |
$3,063,477
$578,695 |
$4,744,712 |
| 9 |
$8,806,248 |
$3,218,642
$607,631 |
$4,979,975 |
| 10 |
$9,246,600 |
$3,381,572
$638,015 |
$5,227,013 |
| 11 |
$9,708,732 |
$3,552,561
$669,903 |
$5,486,268 |
| 12 |
$10,194,228 |
$3,732,195
$703,402 |
$5,758,631 |
| 13 |
$10,703,880 |
$3,920,766
$738,568 |
$6,044,546 |
| 14 |
$11,239,272 |
$4,118,861
$775,510 |
$6,344,901 |
| 15 |
$11,801,196 |
$4,326,773
$814,283 |
$6,660,140 |
| 16 |
$12,391,236 |
$4,545,088
$854,995 |
$6,991,153 |
| 17 |
$13,010,580 |
$4,774,245
$897,730 |
$7,338,605 |
| 18 |
$13,661,208 |
$5,014,977
$942,623 |
$7,703,608 |
| 19 |
$14,344,308 |
$5,267,724
$989,757 |
$8,086,827 |
| 20 |
$15,061,464 |
$5,533,072
$1,039,241 |
$8,489,151 |
| 21 |
$15,814,656 |
$5,811,753
$1,091,211 |
$8,911,692 |
| 22 |
$16,605,468 |
$6,104,354
$1,145,777 |
$9,355,337 |
| 23 |
$17,435,484 |
$6,411,459
$1,203,048 |
$9,820,977 |
| 24 |
$18,307,476 |
$6,734,097
$1,263,216 |
$10,310,163 |
| 25 |
$19,222,632 |
$7,072,704
$1,326,362 |
$10,823,566 |
| 26 |
$20,184,120 |
$7,428,455
$1,392,704 |
$11,362,961 |
| 27 |
$21,193,128 |
$7,801,788
$1,462,326 |
$11,929,014 |
| 28 |
$22,252,824 |
$8,193,875
$1,535,445 |
$12,523,504 |
| 29 |
$23,365,584 |
$8,605,596
$1,612,225 |
$13,147,763 |
| 30 |
$24,533,784 |
$9,037,830
$1,692,831 |
$13,803,123 |
|
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