The jackpot for the Powerball draw on Sat May 10, 2025, is projected to be $82 Million, with an option for a cash payout of $37.7 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 May 10, 2025 |
|---|
| Draw Date | Sat May 10, 2025 | | Projected Jackpot | $82,000,000 | | Cash Value | $37,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $37,700,000 | | Federal Tax(24%) | $9,048,000 | | Additional Federal Tax | $4,861,330 | | State Tax(6.9%) | $2,601,300 | | Net Lumpsum Payment | $21,189,370 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,234,182 |
$416,978
$85,159 |
$732,045 |
| 2 |
$1,295,928 |
$439,824
$89,419 |
$766,685 |
| 3 |
$1,360,708 |
$463,792
$93,889 |
$803,027 |
| 4 |
$1,428,768 |
$488,975
$98,585 |
$841,208 |
| 5 |
$1,500,190 |
$515,401
$103,513 |
$881,276 |
| 6 |
$1,575,220 |
$543,162
$108,690 |
$923,368 |
| 7 |
$1,653,940 |
$572,288
$114,122 |
$967,530 |
| 8 |
$1,736,678 |
$602,901
$119,831 |
$1,013,946 |
| 9 |
$1,823,516 |
$635,031
$125,823 |
$1,062,662 |
| 10 |
$1,914,700 |
$668,769
$132,114 |
$1,113,817 |
| 11 |
$2,010,394 |
$704,176
$138,717 |
$1,167,501 |
| 12 |
$2,110,926 |
$741,373
$145,654 |
$1,223,899 |
| 13 |
$2,216,460 |
$780,421
$152,936 |
$1,283,103 |
| 14 |
$2,327,324 |
$821,440
$160,585 |
$1,345,299 |
| 15 |
$2,443,682 |
$864,493
$168,614 |
$1,410,575 |
| 16 |
$2,565,862 |
$909,699
$177,044 |
$1,479,119 |
| 17 |
$2,694,110 |
$957,151
$185,894 |
$1,551,065 |
| 18 |
$2,828,836 |
$1,007,000
$195,190 |
$1,626,646 |
| 19 |
$2,970,286 |
$1,059,336
$204,950 |
$1,706,000 |
| 20 |
$3,118,788 |
$1,114,282
$215,196 |
$1,789,310 |
| 21 |
$3,274,752 |
$1,171,989
$225,958 |
$1,876,805 |
| 22 |
$3,438,506 |
$1,232,578
$237,257 |
$1,968,671 |
| 23 |
$3,610,378 |
$1,296,170
$249,116 |
$2,065,092 |
| 24 |
$3,790,942 |
$1,362,979
$261,575 |
$2,166,388 |
| 25 |
$3,980,444 |
$1,433,095
$274,651 |
$2,272,698 |
| 26 |
$4,179,540 |
$1,506,760
$288,388 |
$2,384,392 |
| 27 |
$4,388,476 |
$1,584,067
$302,805 |
$2,501,604 |
| 28 |
$4,607,908 |
$1,665,256
$317,946 |
$2,624,706 |
| 29 |
$4,838,328 |
$1,750,512
$333,845 |
$2,753,971 |
| 30 |
$5,080,228 |
$1,840,015
$350,536 |
$2,889,677 |
|
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