The jackpot for the Powerball draw on Mon Feb 23, 2026, is projected to be $203 Million, with an option for a cash payout of $94.6 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 Mon Feb 23, 2026 |
|---|
| Draw Date | Mon Feb 23, 2026 | | Projected Jackpot | $203,000,000 | | Cash Value | $94,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $94,600,000 | | Federal Tax(24%) | $22,704,000 | | Additional Federal Tax | $12,258,330 | | State Tax(6.9%) | $6,527,400 | | Net Lumpsum Payment | $53,110,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,055,353 |
$1,090,811
$210,819 |
$1,753,723 |
| 2 |
$3,208,212 |
$1,147,369
$221,367 |
$1,839,476 |
| 3 |
$3,368,582 |
$1,206,706
$232,432 |
$1,929,444 |
| 4 |
$3,537,072 |
$1,269,047
$244,058 |
$2,023,967 |
| 5 |
$3,713,885 |
$1,334,468
$256,258 |
$2,123,159 |
| 6 |
$3,899,630 |
$1,403,193
$269,074 |
$2,227,363 |
| 7 |
$4,094,510 |
$1,475,299
$282,521 |
$2,336,690 |
| 8 |
$4,299,337 |
$1,551,085
$296,654 |
$2,451,598 |
| 9 |
$4,514,314 |
$1,630,627
$311,488 |
$2,572,199 |
| 10 |
$4,740,050 |
$1,714,149
$327,063 |
$2,698,838 |
| 11 |
$4,976,951 |
$1,801,802
$343,410 |
$2,831,739 |
| 12 |
$5,225,829 |
$1,893,887
$360,582 |
$2,971,360 |
| 13 |
$5,487,090 |
$1,990,554
$378,609 |
$3,117,927 |
| 14 |
$5,761,546 |
$2,092,102
$397,547 |
$3,271,897 |
| 15 |
$6,049,603 |
$2,198,683
$417,423 |
$3,433,497 |
| 16 |
$6,352,073 |
$2,310,597
$438,293 |
$3,603,183 |
| 17 |
$6,669,565 |
$2,428,069
$460,200 |
$3,781,296 |
| 18 |
$7,003,094 |
$2,551,475
$483,213 |
$3,968,406 |
| 19 |
$7,353,269 |
$2,681,040
$507,376 |
$4,164,853 |
| 20 |
$7,720,902 |
$2,817,064
$532,742 |
$4,371,096 |
| 21 |
$8,107,008 |
$2,959,923
$559,384 |
$4,587,701 |
| 22 |
$8,512,399 |
$3,109,918
$587,356 |
$4,815,125 |
| 23 |
$8,937,887 |
$3,267,349
$616,714 |
$5,053,824 |
| 24 |
$9,384,893 |
$3,432,741
$647,558 |
$5,304,594 |
| 25 |
$9,854,026 |
$3,606,320
$679,928 |
$5,567,778 |
| 26 |
$10,346,910 |
$3,788,687
$713,937 |
$5,844,286 |
| 27 |
$10,864,154 |
$3,980,067
$749,627 |
$6,134,460 |
| 28 |
$11,407,382 |
$4,181,062
$787,109 |
$6,439,211 |
| 29 |
$11,977,812 |
$4,392,121
$826,469 |
$6,759,222 |
| 30 |
$12,576,662 |
$4,613,695
$867,790 |
$7,095,177 |
|
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