Palmetto Cash 5
Latest draw · Saturday, October 3, 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)
- $356,000
- Federal tax
- − $94,975
- State tax (South Carolina · 6.4%)
- − $22,784
- Net take-home
- $238,241
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 $356,000 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 | $261,025 | 27% |
| Californiano state tax | $261,025 | 27% |
| Floridano state tax | $261,025 | 27% |
| New Hampshireno state tax | $261,025 | 27% |
| South Dakotano state tax | $261,025 | 27% |
| Tennesseeno state tax | $261,025 | 27% |
| Texasno state tax | $261,025 | 27% |
| Washingtonno state tax | $261,025 | 27% |
| Wyomingno state tax | $261,025 | 27% |
| Arizona | $252,125 | 29% |
| North Dakota | $252,125 | 29% |
| Pennsylvania | $250,096 | 30% |
| Indiana | $249,811 | 30% |
| Ohio | $248,565 | 30% |
| Kentucky | $246,785 | 31% |
| Louisiana | $245,895 | 31% |
| Michigan | $245,895 | 31% |
| Arkansas | $245,361 | 31% |
| Colorado | $245,361 | 31% |
| North Carolina | $245,005 | 31% |
| Utah | $244,471 | 31% |
| Oklahoma | $244,115 | 31% |
| Missouri | $243,937 | 31% |
| Illinois | $243,403 | 32% |
| Alabama | $243,225 | 32% |
| Massachusetts | $243,225 | 32% |
| Mississippi | $243,225 | 32% |
| West Virginia | $242,798 | 32% |
| Georgia | $241,481 | 32% |
| Kansas | $240,733 | 32% |
| Maryland | $240,555 | 32% |
| Virginia | $240,555 | 32% |
| Idaho | $240,377 | 32% |
| Nebraska | $240,235 | 33% |
| Montana | $240,021 | 33% |
| New Mexico | $240,021 | 33% |
| Rhode Island | $239,701 | 33% |
| Iowa | $239,665 | 33% |
| South Carolina(this game) | $238,241 | 33% |
| Delaware | $237,529 | 33% |
| Connecticut | $236,141 | 34% |
| Maine | $235,571 | 34% |
| Wisconsin | $233,791 | 34% |
| Vermont | $229,875 | 35% |
| Minnesota | $225,959 | 37% |
| Oregon | $225,781 | 37% |
| District of Columbia | $222,755 | 37% |
| New Jersey | $222,755 | 37% |
| New York | $222,221 | 38% |
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 $356,000 Palmetto Cash 5 jackpot taken as a lump sum, you'd pay about $94,975 in federal tax and $22,784 in South Carolina state tax, leaving roughly $238,241.
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.
