The jackpot for the Powerball draw on Wed Jul 22, 2026, is projected to be $567 Million, with an option for a cash payout of $251.8 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 Wed Jul 22, 2026 |
|---|
| Draw Date | Wed Jul 22, 2026 | | Projected Jackpot | $567,000,000 | | Cash Value | $251,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $251,800,000 | | Federal Tax(24%) | $60,432,000 | | Additional Federal Tax | $32,694,330 | | State Tax(6.9%) | $17,374,200 | | Net Lumpsum Payment | $141,299,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,533,917 |
$3,117,880
$588,840 |
$4,827,197 |
| 2 |
$8,960,868 |
$3,275,852
$618,300 |
$5,066,716 |
| 3 |
$9,408,798 |
$3,441,586
$649,207 |
$5,318,005 |
| 4 |
$9,879,408 |
$3,615,711
$681,679 |
$5,582,018 |
| 5 |
$10,373,265 |
$3,798,438
$715,755 |
$5,859,072 |
| 6 |
$10,892,070 |
$3,990,396
$751,553 |
$6,150,121 |
| 7 |
$11,436,390 |
$4,191,795
$789,111 |
$6,455,484 |
| 8 |
$12,008,493 |
$4,403,473
$828,586 |
$6,776,434 |
| 9 |
$12,608,946 |
$4,625,640
$870,017 |
$7,113,289 |
| 10 |
$13,239,450 |
$4,858,927
$913,522 |
$7,467,001 |
| 11 |
$13,901,139 |
$5,103,752
$959,179 |
$7,838,208 |
| 12 |
$14,596,281 |
$5,360,954
$1,007,143 |
$8,228,184 |
| 13 |
$15,326,010 |
$5,630,954
$1,057,495 |
$8,637,561 |
| 14 |
$16,092,594 |
$5,914,590
$1,110,389 |
$9,067,615 |
| 15 |
$16,897,167 |
$6,212,282
$1,165,905 |
$9,518,980 |
| 16 |
$17,741,997 |
$6,524,869
$1,224,198 |
$9,992,930 |
| 17 |
$18,628,785 |
$6,852,981
$1,285,386 |
$10,490,418 |
| 18 |
$19,560,366 |
$7,197,666
$1,349,665 |
$11,013,035 |
| 19 |
$20,538,441 |
$7,559,554
$1,417,152 |
$11,561,735 |
| 20 |
$21,565,278 |
$7,939,483
$1,488,004 |
$12,137,791 |
| 21 |
$22,643,712 |
$8,338,504
$1,562,416 |
$12,742,792 |
| 22 |
$23,776,011 |
$8,757,454
$1,640,545 |
$13,378,012 |
| 23 |
$24,964,443 |
$9,197,174
$1,722,547 |
$14,044,722 |
| 24 |
$26,212,977 |
$9,659,132
$1,808,695 |
$14,745,150 |
| 25 |
$27,523,314 |
$10,143,957
$1,899,109 |
$15,480,248 |
| 26 |
$28,899,990 |
$10,653,327
$1,994,099 |
$16,252,564 |
| 27 |
$30,344,706 |
$11,187,872
$2,093,785 |
$17,063,049 |
| 28 |
$31,861,998 |
$11,749,270
$2,198,478 |
$17,914,250 |
| 29 |
$33,455,268 |
$12,338,780
$2,308,413 |
$18,808,075 |
| 30 |
$35,127,918 |
$12,957,660
$2,423,826 |
$19,746,432 |
|
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