The jackpot for the Powerball draw on Mon Aug 17, 2026, is projected to be $35 Million, with an option for a cash payout of $15.2 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 Aug 17, 2026 |
|---|
| Draw Date | Mon Aug 17, 2026 | | Projected Jackpot | $35,000,000 | | Cash Value | $15,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $15,200,000 | | Federal Tax(24%) | $3,648,000 | | Additional Federal Tax | $1,936,330 | | State Tax(6.9%) | $1,048,800 | | Net Lumpsum Payment | $8,566,870 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$526,785 |
$155,241
$36,348 |
$335,196 |
| 2 |
$553,140 |
$164,992
$38,167 |
$349,981 |
| 3 |
$580,790 |
$175,223
$40,075 |
$365,492 |
| 4 |
$609,840 |
$185,971
$42,079 |
$381,790 |
| 5 |
$640,325 |
$197,251
$44,182 |
$398,892 |
| 6 |
$672,350 |
$209,100
$46,392 |
$416,858 |
| 7 |
$705,950 |
$221,532
$48,711 |
$435,707 |
| 8 |
$741,265 |
$234,598
$51,147 |
$455,520 |
| 9 |
$778,330 |
$248,312
$53,705 |
$476,313 |
| 10 |
$817,250 |
$262,713
$56,390 |
$498,147 |
| 11 |
$858,095 |
$277,826
$59,209 |
$521,060 |
| 12 |
$901,005 |
$293,702
$62,169 |
$545,134 |
| 13 |
$946,050 |
$310,369
$65,277 |
$570,404 |
| 14 |
$993,370 |
$327,877
$68,543 |
$596,950 |
| 15 |
$1,043,035 |
$346,253
$71,969 |
$624,813 |
| 16 |
$1,095,185 |
$365,549
$75,568 |
$654,068 |
| 17 |
$1,149,925 |
$385,803
$79,345 |
$684,777 |
| 18 |
$1,207,430 |
$407,079
$83,313 |
$717,038 |
| 19 |
$1,267,805 |
$429,418
$87,479 |
$750,908 |
| 20 |
$1,331,190 |
$452,871
$91,852 |
$786,467 |
| 21 |
$1,397,760 |
$477,502
$96,445 |
$823,813 |
| 22 |
$1,467,655 |
$503,363
$101,268 |
$863,024 |
| 23 |
$1,541,015 |
$530,506
$106,330 |
$904,179 |
| 24 |
$1,618,085 |
$559,022
$111,648 |
$947,415 |
| 25 |
$1,698,970 |
$588,949
$117,229 |
$992,792 |
| 26 |
$1,783,950 |
$620,392
$123,093 |
$1,040,465 |
| 27 |
$1,873,130 |
$653,388
$129,246 |
$1,090,496 |
| 28 |
$1,966,790 |
$688,043
$135,709 |
$1,143,038 |
| 29 |
$2,065,140 |
$724,432
$142,495 |
$1,198,213 |
| 30 |
$2,168,390 |
$762,635
$149,619 |
$1,256,136 |
|
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