The jackpot for the Powerball draw on Wed Aug 26, 2026, is projected to be $96 Million, with an option for a cash payout of $41.2 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 Wed Aug 26, 2026 |
|---|
| Draw Date | Wed Aug 26, 2026 | | Projected Jackpot | $96,000,000 | | Cash Value | $41,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $41,200,000 | | Federal Tax(24%) | $9,888,000 | | Additional Federal Tax | $5,316,330 | | State Tax(6.9%) | $2,842,800 | | Net Lumpsum Payment | $23,152,870 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,444,896 |
$494,942
$99,698 |
$850,256 |
| 2 |
$1,517,184 |
$521,688
$104,686 |
$890,810 |
| 3 |
$1,593,024 |
$549,749
$109,919 |
$933,356 |
| 4 |
$1,672,704 |
$579,231
$115,417 |
$978,056 |
| 5 |
$1,756,320 |
$610,169
$121,186 |
$1,024,965 |
| 6 |
$1,844,160 |
$642,670
$127,247 |
$1,074,243 |
| 7 |
$1,936,320 |
$676,769
$133,606 |
$1,125,945 |
| 8 |
$2,033,184 |
$712,608
$140,290 |
$1,180,286 |
| 9 |
$2,134,848 |
$750,224
$147,305 |
$1,237,319 |
| 10 |
$2,241,600 |
$789,722
$154,670 |
$1,297,208 |
| 11 |
$2,353,632 |
$831,174
$162,401 |
$1,360,057 |
| 12 |
$2,471,328 |
$874,722
$170,522 |
$1,426,084 |
| 13 |
$2,594,880 |
$920,436
$179,047 |
$1,495,397 |
| 14 |
$2,724,672 |
$968,459
$188,002 |
$1,568,211 |
| 15 |
$2,860,896 |
$1,018,862
$197,402 |
$1,644,632 |
| 16 |
$3,003,936 |
$1,071,787
$207,272 |
$1,724,877 |
| 17 |
$3,154,080 |
$1,127,340
$217,632 |
$1,809,108 |
| 18 |
$3,311,808 |
$1,185,699
$228,515 |
$1,897,594 |
| 19 |
$3,477,408 |
$1,246,971
$239,941 |
$1,990,496 |
| 20 |
$3,651,264 |
$1,311,298
$251,937 |
$2,088,029 |
| 21 |
$3,833,856 |
$1,378,857
$264,536 |
$2,190,463 |
| 22 |
$4,025,568 |
$1,449,791
$277,764 |
$2,298,013 |
| 23 |
$4,226,784 |
$1,524,240
$291,648 |
$2,410,896 |
| 24 |
$4,438,176 |
$1,602,456
$306,234 |
$2,529,486 |
| 25 |
$4,660,032 |
$1,684,542
$321,542 |
$2,653,948 |
| 26 |
$4,893,120 |
$1,770,785
$337,625 |
$2,784,710 |
| 27 |
$5,137,728 |
$1,861,290
$354,503 |
$2,921,935 |
| 28 |
$5,394,624 |
$1,956,341
$372,229 |
$3,066,054 |
| 29 |
$5,664,384 |
$2,056,152
$390,842 |
$3,217,390 |
| 30 |
$5,947,584 |
$2,160,936
$410,383 |
$3,376,265 |
|
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