South Carolina Lottery

SCLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Aug 24, 2026 is estimated to be $81 Million, with a cash option of 34.8 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 Aug 24, 2026

Draw Date	Jackpot	Cash Option
Mon Aug 24, 2026	$81,000,000	$34,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$34,800,000
Federal Tax(24%)	$8,352,000
Additional Federal Tax	$4,484,330
State Tax(6.9%)	$2,401,200
Net Lumpsum Payment	$19,562,470

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,219,131	-$411,409 -$84,120	$723,602
2	$1,280,124	-$433,976 -$88,329	$757,819
3	$1,344,114	-$457,653 -$92,744	$793,717
4	$1,411,344	-$482,528 -$97,383	$831,433
5	$1,481,895	-$508,632 -$102,251	$871,012
6	$1,556,010	-$536,054 -$107,365	$912,591
7	$1,633,770	-$564,825 -$112,730	$956,215
8	$1,715,499	-$595,065 -$118,369	$1,002,065
9	$1,801,278	-$626,803 -$124,288	$1,050,187
10	$1,891,350	-$660,130 -$130,503	$1,100,717
11	$1,985,877	-$695,105 -$137,026	$1,153,746
12	$2,085,183	-$731,848 -$143,878	$1,209,457
13	$2,189,430	-$770,419 -$151,071	$1,267,940
14	$2,298,942	-$810,939 -$158,627	$1,329,376
15	$2,413,881	-$853,466 -$166,558	$1,393,857
16	$2,534,571	-$898,122 -$174,885	$1,461,564
17	$2,661,255	-$944,995 -$183,627	$1,532,633
18	$2,794,338	-$994,235 -$192,809	$1,607,294
19	$2,934,063	-$1,045,934 -$202,450	$1,685,679
20	$3,080,754	-$1,100,209 -$212,572	$1,767,973
21	$3,234,816	-$1,157,212 -$223,202	$1,854,402
22	$3,396,573	-$1,217,062 -$234,364	$1,945,147
23	$3,566,349	-$1,279,880 -$246,078	$2,040,391
24	$3,744,711	-$1,345,873 -$258,385	$2,140,453
25	$3,931,902	-$1,415,134 -$271,301	$2,245,467
26	$4,128,570	-$1,487,901 -$284,871	$2,355,798
27	$4,334,958	-$1,564,265 -$299,112	$2,471,581
28	$4,551,714	-$1,644,465 -$314,068	$2,593,181
29	$4,779,324	-$1,728,680 -$329,773	$2,720,871
30	$5,018,274	-$1,817,092 -$346,261	$2,854,921