South Carolina Lottery

SCLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Aug 5, 2026 is estimated to be $786 Million, with a cash option of 341.6 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 Wed Aug 5, 2026

Draw Date	Jackpot	Cash Option
Wed Aug 5, 2026	$786,000,000	$341,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$341,600,000
Federal Tax(24%)	$81,984,000
Additional Federal Tax	$44,368,330
State Tax(6.9%)	$23,570,400
Net Lumpsum Payment	$191,677,270

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$11,830,086	-$4,337,462 -$816,276	$6,676,348
2	$12,421,944	-$4,556,450 -$857,114	$7,008,380
3	$13,042,884	-$4,786,197 -$899,959	$7,356,728
4	$13,695,264	-$5,027,578 -$944,973	$7,722,713
5	$14,379,870	-$5,280,882 -$992,211	$8,106,777
6	$15,099,060	-$5,546,983 -$1,041,835	$8,510,242
7	$15,853,620	-$5,826,170 -$1,093,900	$8,933,550
8	$16,646,694	-$6,119,607 -$1,148,622	$9,378,465
9	$17,479,068	-$6,427,586 -$1,206,056	$9,845,426
10	$18,353,100	-$6,750,977 -$1,266,364	$10,335,759
11	$19,270,362	-$7,090,364 -$1,329,655	$10,850,343
12	$20,233,998	-$7,446,910 -$1,396,146	$11,390,942
13	$21,245,580	-$7,821,195 -$1,465,945	$11,958,440
14	$22,308,252	-$8,214,384 -$1,539,269	$12,554,599
15	$23,423,586	-$8,627,057 -$1,616,227	$13,180,302
16	$24,594,726	-$9,060,379 -$1,697,036	$13,837,311
17	$25,824,030	-$9,515,221 -$1,781,858	$14,526,951
18	$27,115,428	-$9,993,039 -$1,870,965	$15,251,424
19	$28,471,278	-$10,494,703 -$1,964,518	$16,012,057
20	$29,894,724	-$11,021,378 -$2,062,736	$16,810,610
21	$31,389,696	-$11,574,518 -$2,165,889	$17,649,289
22	$32,959,338	-$12,155,285 -$2,274,194	$18,529,859
23	$34,606,794	-$12,764,844 -$2,387,869	$19,454,081
24	$36,337,566	-$13,405,230 -$2,507,292	$20,425,044
25	$38,154,012	-$14,077,315 -$2,632,627	$21,444,070
26	$40,062,420	-$14,783,426 -$2,764,307	$22,514,687
27	$42,065,148	-$15,524,435 -$2,902,495	$23,638,218
28	$44,168,484	-$16,302,669 -$3,047,625	$24,818,190
29	$46,377,144	-$17,119,874 -$3,200,023	$26,057,247
30	$48,695,844	-$17,977,793 -$3,360,013	$27,358,038