The jackpot for the Powerball draw on Wed Jan 28, 2026, is projected to be $43 Million, with an option for a cash payout of $19.4 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 Jan 28, 2026 |
|---|
| Draw Date | Wed Jan 28, 2026 | | Projected Jackpot | $43,000,000 | | Cash Value | $19,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $19,400,000 | | Federal Tax(24%) | $4,656,000 | | Additional Federal Tax | $2,482,330 | | State Tax(6.9%) | $1,338,600 | | Net Lumpsum Payment | $10,923,070 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$647,193 |
$199,792
$44,656 |
$402,745 |
| 2 |
$679,572 |
$211,772
$46,890 |
$420,910 |
| 3 |
$713,542 |
$224,341
$49,234 |
$439,967 |
| 4 |
$749,232 |
$237,546
$51,697 |
$459,989 |
| 5 |
$786,685 |
$251,404
$54,281 |
$481,000 |
| 6 |
$826,030 |
$265,961
$56,996 |
$503,073 |
| 7 |
$867,310 |
$281,235
$59,844 |
$526,231 |
| 8 |
$910,697 |
$297,288
$62,838 |
$550,571 |
| 9 |
$956,234 |
$314,137
$65,980 |
$576,117 |
| 10 |
$1,004,050 |
$331,829
$69,279 |
$602,942 |
| 11 |
$1,054,231 |
$350,396
$72,742 |
$631,093 |
| 12 |
$1,106,949 |
$369,902
$76,379 |
$660,668 |
| 13 |
$1,162,290 |
$390,378
$80,198 |
$691,714 |
| 14 |
$1,220,426 |
$411,888
$84,209 |
$724,329 |
| 15 |
$1,281,443 |
$434,464
$88,420 |
$758,559 |
| 16 |
$1,345,513 |
$458,170
$92,840 |
$794,503 |
| 17 |
$1,412,765 |
$483,053
$97,481 |
$832,231 |
| 18 |
$1,483,414 |
$509,194
$102,356 |
$871,864 |
| 19 |
$1,557,589 |
$536,638
$107,474 |
$913,477 |
| 20 |
$1,635,462 |
$565,451
$112,847 |
$957,164 |
| 21 |
$1,717,248 |
$595,712
$118,490 |
$1,003,046 |
| 22 |
$1,803,119 |
$627,484
$124,415 |
$1,051,220 |
| 23 |
$1,893,247 |
$660,832
$130,634 |
$1,101,781 |
| 24 |
$1,987,933 |
$695,866
$137,167 |
$1,154,900 |
| 25 |
$2,087,306 |
$732,634
$144,024 |
$1,210,648 |
| 26 |
$2,191,710 |
$771,263
$151,228 |
$1,269,219 |
| 27 |
$2,301,274 |
$811,802
$158,788 |
$1,330,684 |
| 28 |
$2,416,342 |
$854,377
$166,728 |
$1,395,237 |
| 29 |
$2,537,172 |
$899,084
$175,065 |
$1,463,023 |
| 30 |
$2,664,022 |
$946,019
$183,818 |
$1,534,185 |
|
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