The jackpot for the Powerball draw on Wed Aug 5, 2026, is projected to be $786 Million, with an option for a cash payout of $341.6 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 Wed Aug 5, 2026 |
|---|
| Draw Date | Wed Aug 5, 2026 | | Projected Jackpot | $786,000,000 | | Cash Value | $341,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| 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 |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
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 |
|
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