This weekend’s Powerball drawing is one for the document books — the $1.8 billion jackpot is now the sport’s second-highest prize of all time. (The world document is the $2.04 billion Powerball jackpot, which was gained in California on Nov. 7, 2022.)
The profitable ticket has an estimated money worth of $826.4 million.
“Pleasure is constructing as gamers sit up for tomorrow night time’s drawing for this historic jackpot,” mentioned Matt Strawn, Powerball Product Group Chair and Iowa Lottery CEO, in a press release. “We encourage everybody to play responsibly and take delight in figuring out that each $2 ticket additionally helps assist good causes of their neighborhood.”
Associated: Hundreds of Lottery Gamers Had been Mistakenly Advised They Received Hundreds of thousands
Saturday’s Powerball drawing will likely be live-streamed on Powerball.com, broadcast stay at 10:59 p.m. ET from the Florida Lottery draw studio in Tallahassee. Powerball tickets price $2 and are bought in 45 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
How A lot Cash Will the Winner Obtain?
A 24% federal tax is imposed instantly. Then, for the reason that winner has skyrocketed themselves (in the event that they weren’t there already) into the very best tax bracket (37%), the leftover tax will likely be paid when submitting 2025 taxes.
CNBC notes that many states then add on a 2.5% to 10.9% earnings tax, although eight states (California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming) do not tax lottery winnings. In the entire above states, the winner would take dwelling essentially the most cash obtainable, with a lump sum of $520,674,980 or an annuity of $1,135,289,400, in response to USAMega.com and CNBC.
On the other finish, the states the place the winner will obtain the least after taxes are:
- New York (lump sum: $430,597,380; annuity: $939,089,400)
- New Jersey and Washington, D.C. (lump sum: $431,836,980; annuity: $941,789,400)
- Oregon (lump sum: $438,861,380; annuity: $957,089,400)
- Minnesota (lump sum: $439,274,580; annuity: $957,989,400)
- Maryland (lump sum: $442,166,980; annuity: $964,289,400)
- Massachusetts (lump sum: $446,298,980; annuity: $973,289,400)
- Vermont (lump sum: $448,364,980; annuity: $977,789,400)
Associated: I Received $28 Million within the Lottery Once I Was 21. It Modified All the pieces.
This weekend’s Powerball drawing is one for the document books — the $1.8 billion jackpot is now the sport’s second-highest prize of all time. (The world document is the $2.04 billion Powerball jackpot, which was gained in California on Nov. 7, 2022.)
The profitable ticket has an estimated money worth of $826.4 million.
“Pleasure is constructing as gamers sit up for tomorrow night time’s drawing for this historic jackpot,” mentioned Matt Strawn, Powerball Product Group Chair and Iowa Lottery CEO, in a press release. “We encourage everybody to play responsibly and take delight in figuring out that each $2 ticket additionally helps assist good causes of their neighborhood.”
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