South Carolina Lottery

SCLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Mar 10, 2025 is estimated to be $335 Million, with a cash option of 157.3 Million. If you win the Powerball jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of South Carolina, your state will take 6.9% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

South Carolina Powerball Jackpot/Cash Option for Mon Mar 10, 2025

Draw Date	Jackpot	Cash Option
Mon Mar 10, 2025	$335,000,000	$157,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$157,300,000
Federal Tax(24%)	$37,752,000
Additional Federal Tax	$20,409,330
State Tax(6.9%)	$10,853,700
Net Lumpsum Payment	$88,284,970

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,042,085	-$1,825,902 -$347,904	$2,868,279
2	$5,294,340	-$1,919,236 -$365,309	$3,009,795
3	$5,558,990	-$2,017,157 -$383,570	$3,158,263
4	$5,837,040	-$2,120,035 -$402,756	$3,314,249
5	$6,128,825	-$2,227,996 -$422,889	$3,477,940
6	$6,435,350	-$2,341,410 -$444,039	$3,649,901
7	$6,756,950	-$2,460,402 -$466,230	$3,830,318
8	$7,094,965	-$2,585,467 -$489,553	$4,019,945
9	$7,449,730	-$2,716,730 -$514,031	$4,218,969
10	$7,822,250	-$2,854,563 -$539,735	$4,427,952
11	$8,213,195	-$2,999,213 -$566,710	$4,647,272
12	$8,623,905	-$3,151,175 -$595,049	$4,877,681
13	$9,055,050	-$3,310,699 -$624,798	$5,119,553
14	$9,507,970	-$3,478,279 -$656,050	$5,373,641
15	$9,983,335	-$3,654,164 -$688,850	$5,640,321
16	$10,482,485	-$3,838,850 -$723,291	$5,920,344
17	$11,006,425	-$4,032,708 -$759,443	$6,214,274
18	$11,556,830	-$4,236,357 -$797,421	$6,523,052
19	$12,134,705	-$4,450,171 -$837,295	$6,847,239
20	$12,741,390	-$4,674,645 -$879,156	$7,187,589
21	$13,378,560	-$4,910,398 -$923,121	$7,545,041
22	$14,047,555	-$5,157,926 -$969,281	$7,920,348
23	$14,749,715	-$5,417,725 -$1,017,730	$8,314,260
24	$15,487,385	-$5,690,663 -$1,068,630	$8,728,092
25	$16,261,570	-$5,977,111 -$1,122,048	$9,162,411
26	$17,074,950	-$6,278,062 -$1,178,172	$9,618,716
27	$17,928,530	-$6,593,886 -$1,237,069	$10,097,575
28	$18,824,990	-$6,925,577 -$1,298,924	$10,600,489
29	$19,766,340	-$7,273,876 -$1,363,877	$11,128,587
30	$20,754,590	-$7,639,529 -$1,432,067	$11,682,994