The jackpot for the Powerball draw on Mon Jun 23, 2025, is projected to be $128 Million, with an option for a cash payout of $57.6 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 Mon Jun 23, 2025 |
|---|
| Draw Date | Mon Jun 23, 2025 | | Projected Jackpot | $128,000,000 | | Cash Value | $57,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $57,600,000 | | Federal Tax(24%) | $13,824,000 | | Additional Federal Tax | $7,448,330 | | State Tax(6.9%) | $3,974,400 | | Net Lumpsum Payment | $32,353,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,926,528 |
$673,146
$132,930 |
$1,120,452 |
| 2 |
$2,022,912 |
$708,808
$139,581 |
$1,174,523 |
| 3 |
$2,124,032 |
$746,222
$146,558 |
$1,231,252 |
| 4 |
$2,230,272 |
$785,531
$153,889 |
$1,290,852 |
| 5 |
$2,341,760 |
$826,782
$161,581 |
$1,353,397 |
| 6 |
$2,458,880 |
$870,116
$169,663 |
$1,419,101 |
| 7 |
$2,581,760 |
$915,582
$178,141 |
$1,488,037 |
| 8 |
$2,710,912 |
$963,368
$187,053 |
$1,560,491 |
| 9 |
$2,846,464 |
$1,013,522
$196,406 |
$1,636,536 |
| 10 |
$2,988,800 |
$1,066,186
$206,227 |
$1,716,387 |
| 11 |
$3,138,176 |
$1,121,456
$216,534 |
$1,800,186 |
| 12 |
$3,295,104 |
$1,179,519
$227,362 |
$1,888,223 |
| 13 |
$3,459,840 |
$1,240,471
$238,729 |
$1,980,640 |
| 14 |
$3,632,896 |
$1,304,502
$250,670 |
$2,077,724 |
| 15 |
$3,814,528 |
$1,371,706
$263,202 |
$2,179,620 |
| 16 |
$4,005,248 |
$1,442,272
$276,362 |
$2,286,614 |
| 17 |
$4,205,440 |
$1,516,343
$290,175 |
$2,398,922 |
| 18 |
$4,415,744 |
$1,594,156
$304,686 |
$2,516,902 |
| 19 |
$4,636,544 |
$1,675,852
$319,922 |
$2,640,770 |
| 20 |
$4,868,352 |
$1,761,621
$335,916 |
$2,770,815 |
| 21 |
$5,111,808 |
$1,851,699
$352,715 |
$2,907,394 |
| 22 |
$5,367,424 |
$1,946,277
$370,352 |
$3,050,795 |
| 23 |
$5,635,712 |
$2,045,544
$388,864 |
$3,201,304 |
| 24 |
$5,917,568 |
$2,149,831
$408,312 |
$3,359,425 |
| 25 |
$6,213,376 |
$2,259,280
$428,723 |
$3,525,373 |
| 26 |
$6,524,160 |
$2,374,270
$450,167 |
$3,699,723 |
| 27 |
$6,850,304 |
$2,494,943
$472,671 |
$3,882,690 |
| 28 |
$7,192,832 |
$2,621,678
$496,305 |
$4,074,849 |
| 29 |
$7,552,512 |
$2,754,760
$521,123 |
$4,276,629 |
| 30 |
$7,930,112 |
$2,894,472
$547,178 |
$4,488,462 |
|
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