The jackpot for the Powerball draw on Wed Apr 30, 2025, is projected to be $30 Million, with an option for a cash payout of $13.9 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 Wed Apr 30, 2025 |
|---|
| Draw Date | Wed Apr 30, 2025 | | Projected Jackpot | $30,000,000 | | Cash Value | $13,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $13,900,000 | | Federal Tax(24%) | $3,336,000 | | Additional Federal Tax | $1,767,330 | | State Tax(6.9%) | $959,100 | | Net Lumpsum Payment | $7,837,570 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$451,530 |
$127,396
$31,156 |
$292,978 |
| 2 |
$474,120 |
$135,755
$32,714 |
$305,651 |
| 3 |
$497,820 |
$144,524
$34,350 |
$318,946 |
| 4 |
$522,720 |
$153,737
$36,068 |
$332,915 |
| 5 |
$548,850 |
$163,405
$37,871 |
$347,574 |
| 6 |
$576,300 |
$173,561
$39,765 |
$362,974 |
| 7 |
$605,100 |
$184,217
$41,752 |
$379,131 |
| 8 |
$635,370 |
$195,417
$43,841 |
$396,112 |
| 9 |
$667,140 |
$207,172
$46,033 |
$413,935 |
| 10 |
$700,500 |
$219,515
$48,335 |
$432,650 |
| 11 |
$735,510 |
$232,469
$50,750 |
$452,291 |
| 12 |
$772,290 |
$246,078
$53,288 |
$472,924 |
| 13 |
$810,900 |
$260,363
$55,952 |
$494,585 |
| 14 |
$851,460 |
$275,371
$58,751 |
$517,338 |
| 15 |
$894,030 |
$291,121
$61,688 |
$541,221 |
| 16 |
$938,730 |
$307,660
$64,772 |
$566,298 |
| 17 |
$985,650 |
$325,021
$68,010 |
$592,619 |
| 18 |
$1,034,940 |
$343,258
$71,411 |
$620,271 |
| 19 |
$1,086,690 |
$362,406
$74,982 |
$649,302 |
| 20 |
$1,141,020 |
$382,508
$78,730 |
$679,782 |
| 21 |
$1,198,080 |
$403,620
$82,668 |
$711,792 |
| 22 |
$1,257,990 |
$425,787
$86,801 |
$745,402 |
| 23 |
$1,320,870 |
$449,052
$91,140 |
$780,678 |
| 24 |
$1,386,930 |
$473,494
$95,698 |
$817,738 |
| 25 |
$1,456,260 |
$499,147
$100,482 |
$856,631 |
| 26 |
$1,529,100 |
$526,097
$105,508 |
$897,495 |
| 27 |
$1,605,540 |
$554,380
$110,782 |
$940,378 |
| 28 |
$1,685,820 |
$584,084
$116,322 |
$985,414 |
| 29 |
$1,770,120 |
$615,275
$122,138 |
$1,032,707 |
| 30 |
$1,858,620 |
$648,020
$128,245 |
$1,082,355 |
|
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