The jackpot for the Powerball draw on Sat Oct 10, 2026, is projected to be $516 Million, with an option for a cash payout of $212.6 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 Oct 10, 2026 |
|---|
| Draw Date | Sat Oct 10, 2026 | | Projected Jackpot | $516,000,000 | | Cash Value | $212,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $212,600,000 | | Federal Tax(24%) | $51,024,000 | | Additional Federal Tax | $27,598,330 | | State Tax(6.9%) | $14,669,400 | | Net Lumpsum Payment | $119,308,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,766,316 |
$2,833,867
$535,876 |
$4,396,573 |
| 2 |
$8,154,864 |
$2,977,630
$562,686 |
$4,614,548 |
| 3 |
$8,562,504 |
$3,128,457
$590,813 |
$4,843,234 |
| 4 |
$8,990,784 |
$3,286,920
$620,364 |
$5,083,500 |
| 5 |
$9,440,220 |
$3,453,212
$651,375 |
$5,335,633 |
| 6 |
$9,912,360 |
$3,627,904
$683,953 |
$5,600,503 |
| 7 |
$10,407,720 |
$3,811,187
$718,133 |
$5,878,400 |
| 8 |
$10,928,364 |
$4,003,825
$754,057 |
$6,170,482 |
| 9 |
$11,474,808 |
$4,206,009
$791,762 |
$6,477,037 |
| 10 |
$12,048,600 |
$4,418,312
$831,353 |
$6,798,935 |
| 11 |
$12,650,772 |
$4,641,116
$872,903 |
$7,136,753 |
| 12 |
$13,283,388 |
$4,875,184
$916,554 |
$7,491,650 |
| 13 |
$13,947,480 |
$5,120,898
$962,376 |
$7,864,206 |
| 14 |
$14,645,112 |
$5,379,022
$1,010,513 |
$8,255,577 |
| 15 |
$15,377,316 |
$5,649,937
$1,061,035 |
$8,666,344 |
| 16 |
$16,146,156 |
$5,934,408
$1,114,085 |
$9,097,663 |
| 17 |
$16,953,180 |
$6,233,007
$1,169,769 |
$9,550,404 |
| 18 |
$17,800,968 |
$6,546,689
$1,228,267 |
$10,026,012 |
| 19 |
$18,691,068 |
$6,876,026
$1,289,684 |
$10,525,358 |
| 20 |
$19,625,544 |
$7,221,782
$1,354,163 |
$11,049,599 |
| 21 |
$20,606,976 |
$7,584,912
$1,421,881 |
$11,600,183 |
| 22 |
$21,637,428 |
$7,966,179
$1,492,983 |
$12,178,266 |
| 23 |
$22,718,964 |
$8,366,347
$1,567,609 |
$12,785,008 |
| 24 |
$23,855,196 |
$8,786,753
$1,646,009 |
$13,422,434 |
| 25 |
$25,047,672 |
$9,227,969
$1,728,289 |
$14,091,414 |
| 26 |
$26,300,520 |
$9,691,523
$1,814,736 |
$14,794,261 |
| 27 |
$27,615,288 |
$10,177,987
$1,905,455 |
$15,531,846 |
| 28 |
$28,996,104 |
$10,688,889
$2,000,731 |
$16,306,484 |
| 29 |
$30,446,064 |
$11,225,374
$2,100,778 |
$17,119,912 |
| 30 |
$31,968,264 |
$11,788,588
$2,205,810 |
$17,973,866 |
|
|
