Palmetto Cash 5
Latest draw · Saturday, October 10, 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)
- $516,000
- Federal tax
- − $150,975
- State tax (South Carolina · 6.4%)
- − $33,024
- Net take-home
- $332,001
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 $516,000 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 | $365,025 | 29% |
| Californiano state tax | $365,025 | 29% |
| Floridano state tax | $365,025 | 29% |
| New Hampshireno state tax | $365,025 | 29% |
| South Dakotano state tax | $365,025 | 29% |
| Tennesseeno state tax | $365,025 | 29% |
| Texasno state tax | $365,025 | 29% |
| Washingtonno state tax | $365,025 | 29% |
| Wyomingno state tax | $365,025 | 29% |
| Arizona | $352,125 | 32% |
| North Dakota | $352,125 | 32% |
| Pennsylvania | $349,184 | 32% |
| Indiana | $348,771 | 32% |
| Ohio | $346,965 | 33% |
| Kentucky | $344,385 | 33% |
| Louisiana | $343,095 | 34% |
| Michigan | $343,095 | 34% |
| Arkansas | $342,321 | 34% |
| Colorado | $342,321 | 34% |
| North Carolina | $341,805 | 34% |
| Utah | $341,031 | 34% |
| Oklahoma | $340,515 | 34% |
| Missouri | $340,257 | 34% |
| Illinois | $339,483 | 34% |
| Alabama | $339,225 | 34% |
| Massachusetts | $339,225 | 34% |
| Mississippi | $339,225 | 34% |
| West Virginia | $338,606 | 34% |
| Georgia | $336,697 | 35% |
| Kansas | $335,613 | 35% |
| Maryland | $335,355 | 35% |
| Virginia | $335,355 | 35% |
| Idaho | $335,097 | 35% |
| Nebraska | $334,891 | 35% |
| Montana | $334,581 | 35% |
| New Mexico | $334,581 | 35% |
| Rhode Island | $334,117 | 35% |
| Iowa | $334,065 | 35% |
| South Carolina(this game) | $332,001 | 36% |
| Delaware | $330,969 | 36% |
| Connecticut | $328,957 | 36% |
| Maine | $328,131 | 36% |
| Wisconsin | $325,551 | 37% |
| Vermont | $319,875 | 38% |
| Minnesota | $314,199 | 39% |
| Oregon | $313,941 | 39% |
| District of Columbia | $309,555 | 40% |
| New Jersey | $309,555 | 40% |
| New York | $308,781 | 40% |
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 $516,000 Palmetto Cash 5 jackpot taken as a lump sum, you'd pay about $150,975 in federal tax and $33,024 in South Carolina state tax, leaving roughly $332,001.
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.
