The jackpot for the Powerball draw on Mon Oct 12, 2026, is projected to be $538 Million, with an option for a cash payout of $220.6 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 Mon Oct 12, 2026 |
|---|
| Draw Date | Mon Oct 12, 2026 | | Projected Jackpot | $538,000,000 | | Cash Value | $220,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $220,600,000 | | Federal Tax(24%) | $52,944,000 | | Additional Federal Tax | $28,638,330 | | State Tax(6.9%) | $15,221,400 | | Net Lumpsum Payment | $123,796,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,097,438 |
$2,956,382
$558,723 |
$4,582,333 |
| 2 |
$8,502,552 |
$3,106,275
$586,676 |
$4,809,601 |
| 3 |
$8,927,572 |
$3,263,532
$616,002 |
$5,048,038 |
| 4 |
$9,374,112 |
$3,428,752
$646,814 |
$5,298,546 |
| 5 |
$9,842,710 |
$3,602,133
$679,147 |
$5,561,430 |
| 6 |
$10,334,980 |
$3,784,273
$713,114 |
$5,837,593 |
| 7 |
$10,851,460 |
$3,975,371
$748,751 |
$6,127,338 |
| 8 |
$11,394,302 |
$4,176,222
$786,207 |
$6,431,873 |
| 9 |
$11,964,044 |
$4,387,027
$825,519 |
$6,751,498 |
| 10 |
$12,562,300 |
$4,608,381
$866,799 |
$7,087,120 |
| 11 |
$13,190,146 |
$4,840,684
$910,120 |
$7,439,342 |
| 12 |
$13,849,734 |
$5,084,732
$955,632 |
$7,809,370 |
| 13 |
$14,542,140 |
$5,340,922
$1,003,408 |
$8,197,810 |
| 14 |
$15,269,516 |
$5,610,051
$1,053,597 |
$8,605,868 |
| 15 |
$16,032,938 |
$5,892,517
$1,106,273 |
$9,034,148 |
| 16 |
$16,834,558 |
$6,189,117
$1,161,585 |
$9,483,856 |
| 17 |
$17,675,990 |
$6,500,447
$1,219,643 |
$9,955,900 |
| 18 |
$18,559,924 |
$6,827,502
$1,280,635 |
$10,451,787 |
| 19 |
$19,487,974 |
$7,170,881
$1,344,670 |
$10,972,423 |
| 20 |
$20,462,292 |
$7,531,378
$1,411,898 |
$11,519,016 |
| 21 |
$21,485,568 |
$7,909,991
$1,482,504 |
$12,093,073 |
| 22 |
$22,559,954 |
$8,307,513
$1,556,637 |
$12,695,804 |
| 23 |
$23,687,602 |
$8,724,743
$1,634,445 |
$13,328,414 |
| 24 |
$24,872,278 |
$9,163,073
$1,716,187 |
$13,993,018 |
| 25 |
$26,115,596 |
$9,623,101
$1,801,976 |
$14,690,519 |
| 26 |
$27,421,860 |
$10,106,419
$1,892,108 |
$15,423,333 |
| 27 |
$28,792,684 |
$10,613,623
$1,986,695 |
$16,192,366 |
| 28 |
$30,232,372 |
$11,146,308
$2,086,034 |
$17,000,030 |
| 29 |
$31,744,152 |
$11,705,667
$2,190,346 |
$17,848,139 |
| 30 |
$33,331,252 |
$12,292,894
$2,299,856 |
$18,738,502 |
|
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