The jackpot for the Powerball draw on Mon Oct 26, 2026, is projected to be $687 Million, with an option for a cash payout of $294.7 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 Oct 26, 2026 |
|---|
| Draw Date | Mon Oct 26, 2026 | | Projected Jackpot | $687,000,000 | | Cash Value | $294,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $294,700,000 | | Federal Tax(24%) | $70,728,000 | | Additional Federal Tax | $38,271,330 | | State Tax(6.9%) | $20,334,300 | | Net Lumpsum Payment | $165,366,370 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$10,340,037 |
$3,786,144
$713,463 |
$5,840,430 |
| 2 |
$10,857,348 |
$3,977,549
$749,157 |
$6,130,642 |
| 3 |
$11,400,078 |
$4,178,359
$786,605 |
$6,435,114 |
| 4 |
$11,970,288 |
$4,389,337
$825,950 |
$6,755,001 |
| 5 |
$12,568,665 |
$4,610,736
$867,238 |
$7,090,691 |
| 6 |
$13,197,270 |
$4,843,320
$910,612 |
$7,443,338 |
| 7 |
$13,856,790 |
$5,087,343
$956,119 |
$7,813,328 |
| 8 |
$14,549,973 |
$5,343,820
$1,003,948 |
$8,202,205 |
| 9 |
$15,277,506 |
$5,613,008
$1,054,148 |
$8,610,350 |
| 10 |
$16,041,450 |
$5,895,667
$1,106,860 |
$9,038,923 |
| 11 |
$16,843,179 |
$6,192,307
$1,162,179 |
$9,488,693 |
| 12 |
$17,685,441 |
$6,503,944
$1,220,295 |
$9,961,202 |
| 13 |
$18,569,610 |
$6,831,086
$1,281,303 |
$10,457,221 |
| 14 |
$19,498,434 |
$7,174,751
$1,345,392 |
$10,978,291 |
| 15 |
$20,473,287 |
$7,535,447
$1,412,657 |
$11,525,183 |
| 16 |
$21,496,917 |
$7,914,190
$1,483,287 |
$12,099,440 |
| 17 |
$22,571,385 |
$8,311,743
$1,557,426 |
$12,702,216 |
| 18 |
$23,700,126 |
$8,729,377
$1,635,309 |
$13,335,440 |
| 19 |
$24,885,201 |
$9,167,855
$1,717,079 |
$14,000,267 |
| 20 |
$26,129,358 |
$9,628,193
$1,802,926 |
$14,698,239 |
| 21 |
$27,436,032 |
$10,111,662
$1,893,086 |
$15,431,284 |
| 22 |
$28,807,971 |
$10,619,280
$1,987,750 |
$16,200,941 |
| 23 |
$30,247,923 |
$11,152,062
$2,087,107 |
$17,008,754 |
| 24 |
$31,760,697 |
$11,711,788
$2,191,488 |
$17,857,421 |
| 25 |
$33,348,354 |
$12,299,221
$2,301,036 |
$18,748,097 |
| 26 |
$35,016,390 |
$12,916,395
$2,416,131 |
$19,683,864 |
| 27 |
$36,766,866 |
$13,564,071
$2,536,914 |
$20,665,881 |
| 28 |
$38,605,278 |
$14,244,283
$2,663,764 |
$21,697,231 |
| 29 |
$40,535,748 |
$14,958,557
$2,796,967 |
$22,780,224 |
| 30 |
$42,562,398 |
$15,708,418
$2,936,805 |
$23,917,175 |
|
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