If you win the $1.7B Powerball jackpot in SC, here’s how much money you’ll get after taxes
Powerball has skyrocketed to a near record jackpot of $1.7 billion, but if you win it in South Carolina, you won’t actually get that amount.
Wednesday will mark the 36th drawing in this jackpot run, which began in July and is the second largest on record. On Monday, a ticket sold in Greenwood won $50,000.
But what if some wins the jackpot on Wednesday? How much will they stand to gain?
Well, if the winner chooses a cash payout, they’ll get $756 million. However, after taxes, that sum drops to $525 million, according to a spokesperson for the South Carolina Education Lottery. Those taxes include 6.5% state and 24% federal.
South Carolinians who want to take a chance at winning the latest jackpot have until 9:59 p.m. on Wednesday to play before the drawing at 10:59 p.m. The odds of matching five white balls and the red Powerball for the jackpot are 1 in 292,201,338, the South Carolina Education Lottery website states.
Powerball tickets are sold in 45 states, the District of Columbia, Puerto Rico and the Virgin Islands.
Tickets are $2, and could cost more with additional options.
