The jackpot for the Powerball draw on Sat Jan 3, 2026, is projected to be $64 Million, with an option for a cash payout of $29.5 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 Sat Jan 3, 2026 |
|---|
| Draw Date | Sat Jan 3, 2026 | | Projected Jackpot | $64,000,000 | | Cash Value | $29,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $29,500,000 | | Federal Tax(24%) | $7,080,000 | | Additional Federal Tax | $3,795,330 | | State Tax(6.9%) | $2,035,500 | | Net Lumpsum Payment | $16,589,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$963,264 |
$316,738
$66,465 |
$580,061 |
| 2 |
$1,011,456 |
$334,569
$69,790 |
$607,097 |
| 3 |
$1,062,016 |
$353,276
$73,279 |
$635,461 |
| 4 |
$1,115,136 |
$372,931
$76,944 |
$665,261 |
| 5 |
$1,170,880 |
$393,556
$80,791 |
$696,533 |
| 6 |
$1,229,440 |
$415,223
$84,831 |
$729,386 |
| 7 |
$1,290,880 |
$437,956
$89,071 |
$763,853 |
| 8 |
$1,355,456 |
$461,849
$93,526 |
$800,081 |
| 9 |
$1,423,232 |
$486,926
$98,203 |
$838,103 |
| 10 |
$1,494,400 |
$513,258
$103,114 |
$878,028 |
| 11 |
$1,569,088 |
$540,893
$108,267 |
$919,928 |
| 12 |
$1,647,552 |
$569,925
$113,681 |
$963,946 |
| 13 |
$1,729,920 |
$600,401
$119,364 |
$1,010,155 |
| 14 |
$1,816,448 |
$632,416
$125,335 |
$1,058,697 |
| 15 |
$1,907,264 |
$666,018
$131,601 |
$1,109,645 |
| 16 |
$2,002,624 |
$701,301
$138,181 |
$1,163,142 |
| 17 |
$2,102,720 |
$738,337
$145,088 |
$1,219,295 |
| 18 |
$2,207,872 |
$777,243
$152,343 |
$1,278,286 |
| 19 |
$2,318,272 |
$818,091
$159,961 |
$1,340,220 |
| 20 |
$2,434,176 |
$860,976
$167,958 |
$1,405,242 |
| 21 |
$2,555,904 |
$906,015
$176,357 |
$1,473,532 |
| 22 |
$2,683,712 |
$953,304
$185,176 |
$1,545,232 |
| 23 |
$2,817,856 |
$1,002,937
$194,432 |
$1,620,487 |
| 24 |
$2,958,784 |
$1,055,080
$204,156 |
$1,699,548 |
| 25 |
$3,106,688 |
$1,109,805
$214,361 |
$1,782,522 |
| 26 |
$3,262,080 |
$1,167,300
$225,084 |
$1,869,696 |
| 27 |
$3,425,152 |
$1,227,637
$236,335 |
$1,961,180 |
| 28 |
$3,596,416 |
$1,291,004
$248,153 |
$2,057,259 |
| 29 |
$3,776,256 |
$1,357,545
$260,562 |
$2,158,149 |
| 30 |
$3,965,056 |
$1,427,401
$273,589 |
$2,264,066 |
|
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