The jackpot for the Powerball draw on Mon Jan 12, 2026, is projected to be $137 Million, with an option for a cash payout of $61.9 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 Jan 12, 2026 |
|---|
| Draw Date | Mon Jan 12, 2026 | | Projected Jackpot | $137,000,000 | | Cash Value | $61,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $61,900,000 | | Federal Tax(24%) | $14,856,000 | | Additional Federal Tax | $8,007,330 | | State Tax(6.9%) | $4,271,100 | | Net Lumpsum Payment | $34,765,570 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,061,987 |
$723,266
$142,277 |
$1,196,444 |
| 2 |
$2,165,148 |
$761,435
$149,395 |
$1,254,318 |
| 3 |
$2,273,378 |
$801,480
$156,863 |
$1,315,035 |
| 4 |
$2,387,088 |
$843,553
$164,709 |
$1,378,826 |
| 5 |
$2,506,415 |
$887,704
$172,943 |
$1,445,768 |
| 6 |
$2,631,770 |
$934,085
$181,592 |
$1,516,093 |
| 7 |
$2,763,290 |
$982,748
$190,667 |
$1,589,875 |
| 8 |
$2,901,523 |
$1,033,894
$200,205 |
$1,667,424 |
| 9 |
$3,046,606 |
$1,087,575
$210,216 |
$1,748,815 |
| 10 |
$3,198,950 |
$1,143,942
$220,728 |
$1,834,280 |
| 11 |
$3,358,829 |
$1,203,097
$231,759 |
$1,923,973 |
| 12 |
$3,526,791 |
$1,265,243
$243,349 |
$2,018,199 |
| 13 |
$3,703,110 |
$1,330,481
$255,515 |
$2,117,114 |
| 14 |
$3,888,334 |
$1,399,014
$268,295 |
$2,221,025 |
| 15 |
$4,082,737 |
$1,470,943
$281,709 |
$2,330,085 |
| 16 |
$4,286,867 |
$1,546,471
$295,794 |
$2,444,602 |
| 17 |
$4,501,135 |
$1,625,750
$310,578 |
$2,564,807 |
| 18 |
$4,726,226 |
$1,709,034
$326,110 |
$2,691,082 |
| 19 |
$4,962,551 |
$1,796,474
$342,416 |
$2,823,661 |
| 20 |
$5,210,658 |
$1,888,274
$359,535 |
$2,962,849 |
| 21 |
$5,471,232 |
$1,984,686
$377,515 |
$3,109,031 |
| 22 |
$5,744,821 |
$2,085,914
$396,393 |
$3,262,514 |
| 23 |
$6,031,973 |
$2,192,160
$416,206 |
$3,423,607 |
| 24 |
$6,333,647 |
$2,303,780
$437,022 |
$3,592,845 |
| 25 |
$6,650,254 |
$2,420,924
$458,868 |
$3,770,462 |
| 26 |
$6,982,890 |
$2,544,000
$481,819 |
$3,957,071 |
| 27 |
$7,331,966 |
$2,673,158
$505,906 |
$4,152,902 |
| 28 |
$7,698,578 |
$2,808,804
$531,202 |
$4,358,572 |
| 29 |
$8,083,548 |
$2,951,243
$557,765 |
$4,574,540 |
| 30 |
$8,487,698 |
$3,100,779
$585,651 |
$4,801,268 |
|
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