The jackpot for the Powerball draw on Sat Feb 28, 2026, is projected to be $238 Million, with an option for a cash payout of $110.9 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 Sat Feb 28, 2026 |
|---|
| Draw Date | Sat Feb 28, 2026 | | Projected Jackpot | $238,000,000 | | Cash Value | $110,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $110,900,000 | | Federal Tax(24%) | $26,616,000 | | Additional Federal Tax | $14,377,330 | | State Tax(6.9%) | $7,652,100 | | Net Lumpsum Payment | $62,254,570 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,582,138 |
$1,285,721
$247,168 |
$2,049,249 |
| 2 |
$3,761,352 |
$1,352,031
$259,533 |
$2,149,788 |
| 3 |
$3,949,372 |
$1,421,598
$272,507 |
$2,255,267 |
| 4 |
$4,146,912 |
$1,494,688
$286,137 |
$2,366,087 |
| 5 |
$4,354,210 |
$1,571,388
$300,440 |
$2,482,382 |
| 6 |
$4,571,980 |
$1,651,963
$315,467 |
$2,604,550 |
| 7 |
$4,800,460 |
$1,736,501
$331,232 |
$2,732,727 |
| 8 |
$5,040,602 |
$1,825,353
$347,802 |
$2,867,447 |
| 9 |
$5,292,644 |
$1,918,609
$365,192 |
$3,008,843 |
| 10 |
$5,557,300 |
$2,016,531
$383,454 |
$3,157,315 |
| 11 |
$5,835,046 |
$2,119,297
$402,618 |
$3,313,131 |
| 12 |
$6,126,834 |
$2,227,259
$422,752 |
$3,476,823 |
| 13 |
$6,433,140 |
$2,340,592
$443,887 |
$3,648,661 |
| 14 |
$6,754,916 |
$2,459,649
$466,089 |
$3,829,178 |
| 15 |
$7,092,638 |
$2,584,606
$489,392 |
$4,018,640 |
| 16 |
$7,447,258 |
$2,715,816
$513,861 |
$4,217,581 |
| 17 |
$7,819,490 |
$2,853,542
$539,545 |
$4,426,403 |
| 18 |
$8,210,524 |
$2,998,224
$566,526 |
$4,645,774 |
| 19 |
$8,621,074 |
$3,150,128
$594,854 |
$4,876,092 |
| 20 |
$9,052,092 |
$3,309,604
$624,594 |
$5,117,894 |
| 21 |
$9,504,768 |
$3,477,095
$655,829 |
$5,371,844 |
| 22 |
$9,980,054 |
$3,652,950
$688,624 |
$5,638,480 |
| 23 |
$10,478,902 |
$3,837,524
$723,044 |
$5,918,334 |
| 24 |
$11,002,978 |
$4,031,432
$759,205 |
$6,212,341 |
| 25 |
$11,552,996 |
$4,234,939
$797,157 |
$6,520,900 |
| 26 |
$12,130,860 |
$4,448,749
$837,029 |
$6,845,082 |
| 27 |
$12,737,284 |
$4,673,125
$878,873 |
$7,185,286 |
| 28 |
$13,374,172 |
$4,908,774
$922,818 |
$7,542,580 |
| 29 |
$14,042,952 |
$5,156,223
$968,964 |
$7,917,765 |
| 30 |
$14,745,052 |
$5,416,000
$1,017,409 |
$8,311,643 |
|
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