The jackpot for the Powerball draw on Mon Feb 2, 2026, is projected to be $65 Million, with an option for a cash payout of $29.4 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 2, 2026 |
|---|
| Draw Date | Mon Feb 2, 2026 | | Projected Jackpot | $65,000,000 | | Cash Value | $29,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $29,400,000 | | Federal Tax(24%) | $7,056,000 | | Additional Federal Tax | $3,782,330 | | State Tax(6.9%) | $2,028,600 | | Net Lumpsum Payment | $16,533,070 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$978,315 |
$322,307
$67,504 |
$588,504 |
| 2 |
$1,027,260 |
$340,417
$70,881 |
$615,962 |
| 3 |
$1,078,610 |
$359,416
$74,424 |
$644,770 |
| 4 |
$1,132,560 |
$379,378
$78,147 |
$675,035 |
| 5 |
$1,189,175 |
$400,325
$82,053 |
$706,797 |
| 6 |
$1,248,650 |
$422,331
$86,157 |
$740,162 |
| 7 |
$1,311,050 |
$445,419
$90,462 |
$775,169 |
| 8 |
$1,376,635 |
$469,685
$94,988 |
$811,962 |
| 9 |
$1,445,470 |
$495,154
$99,737 |
$850,579 |
| 10 |
$1,517,750 |
$521,898
$104,725 |
$891,127 |
| 11 |
$1,593,605 |
$549,964
$109,959 |
$933,682 |
| 12 |
$1,673,295 |
$579,450
$115,457 |
$978,388 |
| 13 |
$1,756,950 |
$610,402
$121,230 |
$1,025,318 |
| 14 |
$1,844,830 |
$642,917
$127,293 |
$1,074,620 |
| 15 |
$1,937,065 |
$677,044
$133,657 |
$1,126,364 |
| 16 |
$2,033,915 |
$712,879
$140,340 |
$1,180,696 |
| 17 |
$2,135,575 |
$750,493
$147,355 |
$1,237,727 |
| 18 |
$2,242,370 |
$790,007
$154,724 |
$1,297,639 |
| 19 |
$2,354,495 |
$831,494
$162,460 |
$1,360,541 |
| 20 |
$2,472,210 |
$875,048
$170,582 |
$1,426,580 |
| 21 |
$2,595,840 |
$920,791
$179,113 |
$1,495,936 |
| 22 |
$2,725,645 |
$968,819
$188,070 |
$1,568,756 |
| 23 |
$2,861,885 |
$1,019,228
$197,470 |
$1,645,187 |
| 24 |
$3,005,015 |
$1,072,186
$207,346 |
$1,725,483 |
| 25 |
$3,155,230 |
$1,127,765
$217,711 |
$1,809,754 |
| 26 |
$3,313,050 |
$1,186,159
$228,600 |
$1,898,291 |
| 27 |
$3,478,670 |
$1,247,438
$240,028 |
$1,991,204 |
| 28 |
$3,652,610 |
$1,311,796
$252,030 |
$2,088,784 |
| 29 |
$3,835,260 |
$1,379,377
$264,633 |
$2,191,250 |
| 30 |
$4,027,010 |
$1,450,324
$277,864 |
$2,298,822 |
|
|
