Palmetto Cash 5
Latest draw · Tuesday, August 25, 2026
Palmetto Cash 5 Tax Calculator
See what you'd really take home from a Palmetto Cash 5 prize after federal and South Carolina state tax — as a lump sum or a 30-year annuity.
- Prize (lump-sum cash)
- $654,000
- Federal tax
- − $200,168
- State tax (South Carolina · 6.4%)
- − $41,856
- Net take-home
- $411,976
Estimate only — uses single-filer federal brackets and South Carolina's top lottery-withholding rate. Actual tax depends on your total income, filing status and deductions. Not tax advice.
Palmetto Cash 5 take-home by state
What you'd keep from a $654,000 Palmetto Cash 5 prize (lump sum) after federal + state tax, ranked best to worst. Change the amount or payout above to update.
| State | Take-home | Effective tax |
|---|---|---|
| Alaskano state tax | $453,832 | 31% |
| Californiano state tax | $453,832 | 31% |
| Floridano state tax | $453,832 | 31% |
| New Hampshireno state tax | $453,832 | 31% |
| South Dakotano state tax | $453,832 | 31% |
| Tennesseeno state tax | $453,832 | 31% |
| Texasno state tax | $453,832 | 31% |
| Washingtonno state tax | $453,832 | 31% |
| Wyomingno state tax | $453,832 | 31% |
| Arizona | $437,482 | 33% |
| North Dakota | $437,482 | 33% |
| Pennsylvania | $433,754 | 34% |
| Indiana | $433,231 | 34% |
| Ohio | $430,942 | 34% |
| Kentucky | $427,672 | 35% |
| Louisiana | $426,037 | 35% |
| Michigan | $426,037 | 35% |
| Arkansas | $425,056 | 35% |
| Colorado | $425,056 | 35% |
| North Carolina | $424,402 | 35% |
| Utah | $423,421 | 35% |
| Oklahoma | $422,767 | 35% |
| Missouri | $422,440 | 35% |
| Illinois | $421,459 | 36% |
| Alabama | $421,132 | 36% |
| Massachusetts | $421,132 | 36% |
| Mississippi | $421,132 | 36% |
| West Virginia | $420,347 | 36% |
| Georgia | $417,928 | 36% |
| Kansas | $416,554 | 36% |
| Maryland | $416,227 | 36% |
| Virginia | $416,227 | 36% |
| Idaho | $415,900 | 36% |
| Nebraska | $415,639 | 36% |
| Montana | $415,246 | 37% |
| New Mexico | $415,246 | 37% |
| Rhode Island | $414,658 | 37% |
| Iowa | $414,592 | 37% |
| South Carolina(this game) | $411,976 | 37% |
| Delaware | $410,668 | 37% |
| Connecticut | $408,118 | 38% |
| Maine | $407,071 | 38% |
| Wisconsin | $403,801 | 38% |
| Vermont | $396,607 | 39% |
| Minnesota | $389,413 | 40% |
| Oregon | $389,086 | 41% |
| District of Columbia | $383,527 | 41% |
| New Jersey | $383,527 | 41% |
| New York | $382,546 | 42% |
Assumes you claim as a resident of that state. Estimate only, single-filer brackets. Not tax advice.
Palmetto Cash 5 tax FAQ
How much tax do you pay on a Palmetto Cash 5 jackpot in South Carolina?
On a $654,000 Palmetto Cash 5 jackpot taken as a lump sum, you'd pay about $200,168 in federal tax and $41,856 in South Carolina state tax, leaving roughly $411,976.
Does South Carolina tax Palmetto Cash 5 lottery winnings?
Yes — South Carolina withholds about 6.4% in state tax on Palmetto Cash 5 winnings, on top of federal tax.
Should I take the Palmetto Cash 5 lump sum or annuity?
The lump sum pays a smaller, discounted amount now with full control; the 30-year annuity pays the full advertised jackpot spread over time and can keep you in lower yearly tax brackets. The best choice depends on your goals and tax situation.
