The jackpot for the Powerball draw on Sat Nov 30, 2024, is projected to be $214 Million, with an option for a cash payout of $99 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 Nov 30, 2024 |
|---|
| Draw Date | Sat Nov 30, 2024 | | Projected Jackpot | $214,000,000 | | Cash Value | $99,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $99,000,000 | | Federal Tax(24%) | $23,760,000 | | Additional Federal Tax | $12,830,330 | | State Tax(6.9%) | $6,831,000 | | Net Lumpsum Payment | $55,578,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,220,914 |
$1,152,069
$222,243 |
$1,846,602 |
| 2 |
$3,382,056 |
$1,211,691
$233,362 |
$1,937,003 |
| 3 |
$3,551,116 |
$1,274,243
$245,027 |
$2,031,846 |
| 4 |
$3,728,736 |
$1,339,963
$257,283 |
$2,131,490 |
| 5 |
$3,915,130 |
$1,408,928
$270,144 |
$2,236,058 |
| 6 |
$4,110,940 |
$1,481,378
$283,655 |
$2,345,907 |
| 7 |
$4,316,380 |
$1,557,391
$297,830 |
$2,461,159 |
| 8 |
$4,532,306 |
$1,637,284
$312,729 |
$2,582,293 |
| 9 |
$4,758,932 |
$1,721,135
$328,366 |
$2,709,431 |
| 10 |
$4,996,900 |
$1,809,183
$344,786 |
$2,842,931 |
| 11 |
$5,246,638 |
$1,901,586
$362,018 |
$2,983,034 |
| 12 |
$5,509,002 |
$1,998,661
$380,121 |
$3,130,220 |
| 13 |
$5,784,420 |
$2,100,566
$399,125 |
$3,284,729 |
| 14 |
$6,073,748 |
$2,207,617
$419,089 |
$3,447,042 |
| 15 |
$6,377,414 |
$2,319,974
$440,042 |
$3,617,398 |
| 16 |
$6,696,274 |
$2,437,952
$462,043 |
$3,796,279 |
| 17 |
$7,030,970 |
$2,561,789
$485,137 |
$3,984,044 |
| 18 |
$7,382,572 |
$2,691,882
$509,397 |
$4,181,293 |
| 19 |
$7,751,722 |
$2,828,468
$534,869 |
$4,388,385 |
| 20 |
$8,139,276 |
$2,971,863
$561,610 |
$4,605,803 |
| 21 |
$8,546,304 |
$3,122,463
$589,695 |
$4,834,146 |
| 22 |
$8,973,662 |
$3,280,585
$619,183 |
$5,073,894 |
| 23 |
$9,422,206 |
$3,446,547
$650,132 |
$5,325,527 |
| 24 |
$9,893,434 |
$3,620,901
$682,647 |
$5,589,886 |
| 25 |
$10,387,988 |
$3,803,886
$716,771 |
$5,867,331 |
| 26 |
$10,907,580 |
$3,996,135
$752,623 |
$6,158,822 |
| 27 |
$11,452,852 |
$4,197,886
$790,247 |
$6,464,719 |
| 28 |
$12,025,516 |
$4,409,771
$829,761 |
$6,785,984 |
| 29 |
$12,626,856 |
$4,632,267
$871,253 |
$7,123,336 |
| 30 |
$13,258,156 |
$4,865,848
$914,813 |
$7,477,495 |
|
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