The jackpot for the Powerball draw on Wed Oct 8, 2025, is projected to be $223 Million, with an option for a cash payout of $104.4 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 Wed Oct 8, 2025 |
|---|
| Draw Date | Wed Oct 8, 2025 | | Projected Jackpot | $223,000,000 | | Cash Value | $104,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $104,400,000 | | Federal Tax(24%) | $25,056,000 | | Additional Federal Tax | $13,532,330 | | State Tax(6.9%) | $7,203,600 | | Net Lumpsum Payment | $58,608,070 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,356,373 |
$1,202,188
$231,590 |
$1,922,595 |
| 2 |
$3,524,292 |
$1,264,318
$243,176 |
$2,016,798 |
| 3 |
$3,700,462 |
$1,329,501
$255,332 |
$2,115,629 |
| 4 |
$3,885,552 |
$1,397,985
$268,103 |
$2,219,464 |
| 5 |
$4,079,785 |
$1,469,851
$281,505 |
$2,328,429 |
| 6 |
$4,283,830 |
$1,545,347
$295,584 |
$2,442,899 |
| 7 |
$4,497,910 |
$1,624,557
$310,356 |
$2,562,997 |
| 8 |
$4,722,917 |
$1,707,810
$325,881 |
$2,689,226 |
| 9 |
$4,959,074 |
$1,795,188
$342,176 |
$2,821,710 |
| 10 |
$5,207,050 |
$1,886,939
$359,286 |
$2,960,825 |
| 11 |
$5,467,291 |
$1,983,228
$377,243 |
$3,106,820 |
| 12 |
$5,740,689 |
$2,084,385
$396,108 |
$3,260,196 |
| 13 |
$6,027,690 |
$2,190,576
$415,911 |
$3,421,203 |
| 14 |
$6,329,186 |
$2,302,129
$436,714 |
$3,590,343 |
| 15 |
$6,645,623 |
$2,419,211
$458,548 |
$3,767,864 |
| 16 |
$6,977,893 |
$2,542,151
$481,475 |
$3,954,267 |
| 17 |
$7,326,665 |
$2,671,196
$505,540 |
$4,149,929 |
| 18 |
$7,693,054 |
$2,806,760
$530,821 |
$4,355,473 |
| 19 |
$8,077,729 |
$2,949,090
$557,363 |
$4,571,276 |
| 20 |
$8,481,582 |
$3,098,516
$585,229 |
$4,797,837 |
| 21 |
$8,905,728 |
$3,255,450
$614,495 |
$5,035,783 |
| 22 |
$9,351,059 |
$3,420,222
$645,223 |
$5,285,614 |
| 23 |
$9,818,467 |
$3,593,163
$677,474 |
$5,547,830 |
| 24 |
$10,309,513 |
$3,774,850
$711,356 |
$5,823,307 |
| 25 |
$10,824,866 |
$3,965,531
$746,916 |
$6,112,419 |
| 26 |
$11,366,310 |
$4,165,865
$784,275 |
$6,416,170 |
| 27 |
$11,934,514 |
$4,376,101
$823,481 |
$6,734,932 |
| 28 |
$12,531,262 |
$4,596,897
$864,657 |
$7,069,708 |
| 29 |
$13,157,892 |
$4,828,750
$907,895 |
$7,421,247 |
| 30 |
$13,815,742 |
$5,072,155
$953,286 |
$7,790,301 |
|
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