The jackpot for the Powerball draw on Wed Jul 1, 2026, is projected to be $375 Million, with an option for a cash payout of $170.6 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 Jul 1, 2026 |
|---|
| Draw Date | Wed Jul 1, 2026 | | Projected Jackpot | $375,000,000 | | Cash Value | $170,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $170,600,000 | | Federal Tax(24%) | $40,944,000 | | Additional Federal Tax | $22,138,330 | | State Tax(6.9%) | $11,771,400 | | Net Lumpsum Payment | $95,746,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,644,125 |
$2,048,657
$389,445 |
$3,206,023 |
| 2 |
$5,926,500 |
$2,153,135
$408,929 |
$3,364,436 |
| 3 |
$6,222,750 |
$2,262,748
$429,370 |
$3,530,632 |
| 4 |
$6,534,000 |
$2,377,910
$450,846 |
$3,705,244 |
| 5 |
$6,860,625 |
$2,498,762
$473,383 |
$3,888,480 |
| 6 |
$7,203,750 |
$2,625,718
$497,059 |
$4,080,973 |
| 7 |
$7,563,750 |
$2,758,918
$521,899 |
$4,282,933 |
| 8 |
$7,942,125 |
$2,898,917
$548,007 |
$4,495,201 |
| 9 |
$8,339,250 |
$3,045,853
$575,408 |
$4,717,989 |
| 10 |
$8,756,250 |
$3,200,143
$604,181 |
$4,951,926 |
| 11 |
$9,193,875 |
$3,362,064
$634,377 |
$5,197,434 |
| 12 |
$9,653,625 |
$3,532,172
$666,100 |
$5,455,353 |
| 13 |
$10,136,250 |
$3,710,743
$699,401 |
$5,726,106 |
| 14 |
$10,643,250 |
$3,898,333
$734,384 |
$6,010,533 |
| 15 |
$11,175,375 |
$4,095,219
$771,101 |
$6,309,055 |
| 16 |
$11,734,125 |
$4,301,957
$809,655 |
$6,622,513 |
| 17 |
$12,320,625 |
$4,518,962
$850,123 |
$6,951,540 |
| 18 |
$12,936,750 |
$4,746,928
$892,636 |
$7,297,186 |
| 19 |
$13,583,625 |
$4,986,272
$937,270 |
$7,660,083 |
| 20 |
$14,262,750 |
$5,237,548
$984,130 |
$8,041,072 |
| 21 |
$14,976,000 |
$5,501,450
$1,033,344 |
$8,441,206 |
| 22 |
$15,724,875 |
$5,778,534
$1,085,016 |
$8,861,325 |
| 23 |
$16,510,875 |
$6,069,354
$1,139,250 |
$9,302,271 |
| 24 |
$17,336,625 |
$6,374,882
$1,196,227 |
$9,765,516 |
| 25 |
$18,203,250 |
$6,695,533
$1,256,024 |
$10,251,693 |
| 26 |
$19,113,750 |
$7,032,418
$1,318,849 |
$10,762,483 |
| 27 |
$20,069,250 |
$7,385,953
$1,384,778 |
$11,298,519 |
| 28 |
$21,072,750 |
$7,757,248
$1,454,020 |
$11,861,482 |
| 29 |
$22,126,500 |
$8,147,135
$1,526,729 |
$12,452,636 |
| 30 |
$23,232,750 |
$8,556,448
$1,603,060 |
$13,073,242 |
|
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