Palmetto Cash 5
Latest draw · Wednesday, August 19, 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)
- $463,000
- Federal tax
- − $132,425
- State tax (South Carolina · 6.4%)
- − $29,632
- Net take-home
- $300,943
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 $463,000 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 | $330,575 | 29% |
| Californiano state tax | $330,575 | 29% |
| Floridano state tax | $330,575 | 29% |
| New Hampshireno state tax | $330,575 | 29% |
| South Dakotano state tax | $330,575 | 29% |
| Tennesseeno state tax | $330,575 | 29% |
| Texasno state tax | $330,575 | 29% |
| Washingtonno state tax | $330,575 | 29% |
| Wyomingno state tax | $330,575 | 29% |
| Arizona | $319,000 | 31% |
| North Dakota | $319,000 | 31% |
| Pennsylvania | $316,361 | 32% |
| Indiana | $315,991 | 32% |
| Ohio | $314,370 | 32% |
| Kentucky | $312,055 | 33% |
| Louisiana | $310,898 | 33% |
| Michigan | $310,898 | 33% |
| Arkansas | $310,203 | 33% |
| Colorado | $310,203 | 33% |
| North Carolina | $309,740 | 33% |
| Utah | $309,046 | 33% |
| Oklahoma | $308,583 | 33% |
| Missouri | $308,351 | 33% |
| Illinois | $307,657 | 34% |
| Alabama | $307,425 | 34% |
| Massachusetts | $307,425 | 34% |
| Mississippi | $307,425 | 34% |
| West Virginia | $306,870 | 34% |
| Georgia | $305,157 | 34% |
| Kansas | $304,184 | 34% |
| Maryland | $303,953 | 34% |
| Virginia | $303,953 | 34% |
| Idaho | $303,721 | 34% |
| Nebraska | $303,536 | 34% |
| Montana | $303,258 | 35% |
| New Mexico | $303,258 | 35% |
| Rhode Island | $302,842 | 35% |
| Iowa | $302,795 | 35% |
| South Carolina(this game) | $300,943 | 35% |
| Delaware | $300,017 | 35% |
| Connecticut | $298,212 | 36% |
| Maine | $297,471 | 36% |
| Wisconsin | $295,156 | 36% |
| Vermont | $290,063 | 37% |
| Minnesota | $284,970 | 38% |
| Oregon | $284,738 | 39% |
| District of Columbia | $280,803 | 39% |
| New Jersey | $280,803 | 39% |
| New York | $280,108 | 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 $463,000 Palmetto Cash 5 jackpot taken as a lump sum, you'd pay about $132,425 in federal tax and $29,632 in South Carolina state tax, leaving roughly $300,943.
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.
