6.20% state lottery tax
South Carolina Powerball Tax Calculator
Last updated:
South Carolina applies a 6.20% state lottery tax. Combined with the 24% federal withholding and the top-bracket federal adjustment, the effective tax on a large jackpot lands around 38–42%.
Note: 6.20% top rate
South Carolina after-tax take-home by jackpot tier
24% federal withholding + top-bracket adjustment + state tax. Cash lump sum estimated at 60% of advertised jackpot.
| Advertised | Cash take-home | Cash effective | Annuity take-home |
|---|---|---|---|
| $100M | $34.2M | 43.06% | $56.9M |
| $300M | $102.3M | 43.15% | $170.5M |
| $500M | $170.5M | 43.17% | $284.1M |
| $700M | $238.6M | 43.18% | $397.7M |
| $1B | $340.9M | 43.19% | $568.1M |
| $1.5B | $511.3M | 43.19% | $852.1M |
| $2B | $681.7M | 43.19% | $1.1B |
South Carolina vs neighboring states ($1B cash)
| State | Rate | Cash take-home |
|---|---|---|
| South Carolina (SC) | 6.2% | $340.9M |
| North Carolina (NC) | 4.25% | $352.6M |
| Georgia (GA) | 5.49% | $345.1M |