The jackpot for the Powerball draw on Sat Jan 10, 2026, is projected to be $124 Million, with an option for a cash payout of $56 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 Jan 10, 2026 |
|---|
| Draw Date | Sat Jan 10, 2026 | | Projected Jackpot | $124,000,000 | | Cash Value | $56,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $56,000,000 | | Federal Tax(24%) | $13,440,000 | | Additional Federal Tax | $7,240,330 | | State Tax(6.9%) | $3,864,000 | | Net Lumpsum Payment | $31,455,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,866,324 |
$650,870
$128,776 |
$1,086,678 |
| 2 |
$1,959,696 |
$685,418
$135,219 |
$1,139,059 |
| 3 |
$2,057,656 |
$721,663
$141,978 |
$1,194,015 |
| 4 |
$2,160,576 |
$759,744
$149,080 |
$1,251,752 |
| 5 |
$2,268,580 |
$799,705
$156,532 |
$1,312,343 |
| 6 |
$2,382,040 |
$841,685
$164,361 |
$1,375,994 |
| 7 |
$2,501,080 |
$885,730
$172,575 |
$1,442,775 |
| 8 |
$2,626,196 |
$932,023
$181,208 |
$1,512,965 |
| 9 |
$2,757,512 |
$980,610
$190,268 |
$1,586,634 |
| 10 |
$2,895,400 |
$1,031,628
$199,783 |
$1,663,989 |
| 11 |
$3,040,108 |
$1,085,170
$209,767 |
$1,745,171 |
| 12 |
$3,192,132 |
$1,141,419
$220,257 |
$1,830,456 |
| 13 |
$3,351,720 |
$1,200,467
$231,269 |
$1,919,984 |
| 14 |
$3,519,368 |
$1,262,497
$242,836 |
$2,014,035 |
| 15 |
$3,695,324 |
$1,327,600
$254,977 |
$2,112,747 |
| 16 |
$3,880,084 |
$1,395,961
$267,726 |
$2,216,397 |
| 17 |
$4,074,020 |
$1,467,718
$281,107 |
$2,325,195 |
| 18 |
$4,277,752 |
$1,543,099
$295,165 |
$2,439,488 |
| 19 |
$4,491,652 |
$1,622,242
$309,924 |
$2,559,486 |
| 20 |
$4,716,216 |
$1,705,330
$325,419 |
$2,685,467 |
| 21 |
$4,952,064 |
$1,792,594
$341,692 |
$2,817,778 |
| 22 |
$5,199,692 |
$1,884,216
$358,779 |
$2,956,697 |
| 23 |
$5,459,596 |
$1,980,381
$376,712 |
$3,102,503 |
| 24 |
$5,732,644 |
$2,081,409
$395,552 |
$3,255,683 |
| 25 |
$6,019,208 |
$2,187,437
$415,325 |
$3,416,446 |
| 26 |
$6,320,280 |
$2,298,834
$436,099 |
$3,585,347 |
| 27 |
$6,636,232 |
$2,415,736
$457,900 |
$3,762,596 |
| 28 |
$6,968,056 |
$2,538,511
$480,796 |
$3,948,749 |
| 29 |
$7,316,496 |
$2,667,434
$504,838 |
$4,144,224 |
| 30 |
$7,682,296 |
$2,802,780
$530,078 |
$4,349,438 |
|
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