The jackpot for the Powerball draw on Wed Jul 2, 2025, is projected to be $174 Million, with an option for a cash payout of $79.7 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 Wed Jul 2, 2025 |
|---|
| Draw Date | Wed Jul 2, 2025 | | Projected Jackpot | $174,000,000 | | Cash Value | $79,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $79,700,000 | | Federal Tax(24%) | $19,128,000 | | Additional Federal Tax | $10,321,330 | | State Tax(6.9%) | $5,499,300 | | Net Lumpsum Payment | $44,751,370 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,618,874 |
$929,314
$180,702 |
$1,508,858 |
| 2 |
$2,749,896 |
$977,792
$189,743 |
$1,582,361 |
| 3 |
$2,887,356 |
$1,028,652
$199,228 |
$1,659,476 |
| 4 |
$3,031,776 |
$1,082,088
$209,193 |
$1,740,495 |
| 5 |
$3,183,330 |
$1,138,162
$219,650 |
$1,825,518 |
| 6 |
$3,342,540 |
$1,197,070
$230,635 |
$1,914,835 |
| 7 |
$3,509,580 |
$1,258,875
$242,161 |
$2,008,544 |
| 8 |
$3,685,146 |
$1,323,834
$254,275 |
$2,107,037 |
| 9 |
$3,869,412 |
$1,392,013
$266,989 |
$2,210,410 |
| 10 |
$4,062,900 |
$1,463,603
$280,340 |
$2,318,957 |
| 11 |
$4,265,958 |
$1,538,735
$294,351 |
$2,432,872 |
| 12 |
$4,479,282 |
$1,617,665
$309,070 |
$2,552,547 |
| 13 |
$4,703,220 |
$1,700,522
$324,522 |
$2,678,176 |
| 14 |
$4,938,468 |
$1,787,564
$340,754 |
$2,810,150 |
| 15 |
$5,185,374 |
$1,878,919
$357,791 |
$2,948,664 |
| 16 |
$5,444,634 |
$1,974,845
$375,680 |
$3,094,109 |
| 17 |
$5,716,770 |
$2,075,535
$394,457 |
$3,246,778 |
| 18 |
$6,002,652 |
$2,181,312
$414,183 |
$3,407,157 |
| 19 |
$6,302,802 |
$2,292,367
$434,893 |
$3,575,542 |
| 20 |
$6,617,916 |
$2,408,959
$456,636 |
$3,752,321 |
| 21 |
$6,948,864 |
$2,531,410
$479,472 |
$3,937,982 |
| 22 |
$7,296,342 |
$2,659,977
$503,448 |
$4,132,917 |
| 23 |
$7,661,046 |
$2,794,917
$528,612 |
$4,337,517 |
| 24 |
$8,044,194 |
$2,936,682
$555,049 |
$4,552,463 |
| 25 |
$8,446,308 |
$3,085,464
$582,795 |
$4,778,049 |
| 26 |
$8,868,780 |
$3,241,779
$611,946 |
$5,015,055 |
| 27 |
$9,312,132 |
$3,405,819
$642,537 |
$5,263,776 |
| 28 |
$9,777,756 |
$3,578,100
$674,665 |
$5,524,991 |
| 29 |
$10,266,696 |
$3,759,008
$708,402 |
$5,799,286 |
| 30 |
$10,779,996 |
$3,948,929
$743,820 |
$6,087,247 |
|
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