The jackpot for the Powerball draw on Mon Apr 21, 2025, is projected to be $139 Million, with an option for a cash payout of $63.8 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 Apr 21, 2025 |
---|
Draw Date | Mon Apr 21, 2025 | Projected Jackpot | $139,000,000 | Cash Value | $63,800,000 |
Lumpsum Option Taxes and Payment |
---|
Cash Gross Payment | $63,800,000 | Federal Tax(24%) | $15,312,000 | Additional Federal Tax | $8,254,330 | State Tax(6.9%) | $4,402,200 | Net Lumpsum Payment | $35,831,470 |
Annuity Payment in 30 Installations |
---|
Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$2,092,089 |
$734,403 $144,354 |
$1,213,332 |
2 |
$2,196,756 |
$773,130 $151,576 |
$1,272,050 |
3 |
$2,306,566 |
$813,760 $159,153 |
$1,333,653 |
4 |
$2,421,936 |
$856,447 $167,114 |
$1,398,375 |
5 |
$2,543,005 |
$901,242 $175,467 |
$1,466,296 |
6 |
$2,670,190 |
$948,301 $184,243 |
$1,537,646 |
7 |
$2,803,630 |
$997,673 $193,450 |
$1,612,507 |
8 |
$2,943,881 |
$1,049,566 $203,128 |
$1,691,187 |
9 |
$3,091,082 |
$1,104,031 $213,285 |
$1,773,766 |
10 |
$3,245,650 |
$1,161,221 $223,950 |
$1,860,479 |
11 |
$3,407,863 |
$1,221,240 $235,143 |
$1,951,480 |
12 |
$3,578,277 |
$1,284,293 $246,901 |
$2,047,083 |
13 |
$3,757,170 |
$1,350,483 $259,245 |
$2,147,442 |
14 |
$3,945,098 |
$1,420,017 $272,212 |
$2,252,869 |
15 |
$4,142,339 |
$1,492,996 $285,821 |
$2,363,522 |
16 |
$4,349,449 |
$1,569,627 $300,112 |
$2,479,710 |
17 |
$4,566,845 |
$1,650,063 $315,112 |
$2,601,670 |
18 |
$4,795,222 |
$1,734,563 $330,870 |
$2,729,789 |
19 |
$5,034,997 |
$1,823,279 $347,415 |
$2,864,303 |
20 |
$5,286,726 |
$1,916,419 $364,784 |
$3,005,523 |
21 |
$5,551,104 |
$2,014,239 $383,026 |
$3,153,839 |
22 |
$5,828,687 |
$2,116,945 $402,179 |
$3,309,563 |
23 |
$6,120,031 |
$2,224,742 $422,282 |
$3,473,007 |
24 |
$6,426,109 |
$2,337,991 $443,402 |
$3,644,716 |
25 |
$6,747,338 |
$2,456,845 $465,566 |
$3,824,927 |
26 |
$7,084,830 |
$2,581,717 $488,853 |
$4,014,260 |
27 |
$7,439,002 |
$2,712,761 $513,291 |
$4,212,950 |
28 |
$7,810,966 |
$2,850,388 $538,957 |
$4,421,621 |
29 |
$8,201,556 |
$2,994,906 $565,907 |
$4,640,743 |
30 |
$8,611,606 |
$3,146,625 $594,201 |
$4,870,780 |
|
|