This weekend’s Powerball drawing is one for the report books — the $1.8 billion jackpot is now the sport’s second-highest prize of all time. (The world report is the $2.04 billion Powerball jackpot, which was received in California on Nov. 7, 2022.)
The successful ticket has an estimated money worth of $826.4 million.
“Pleasure is constructing as gamers sit up for tomorrow evening’s drawing for this historic jackpot,” stated Matt Strawn, Powerball Product Group Chair and Iowa Lottery CEO, in an announcement. “We encourage everybody to play responsibly and take satisfaction in realizing that each $2 ticket additionally helps assist good causes of their group.”
Associated: Hundreds of Lottery Gamers Had been Mistakenly Instructed They Received Tens of millions
Saturday’s Powerball drawing will probably be live-streamed on Powerball.com, broadcast reside at 10:59 p.m. ET from the Florida Lottery draw studio in Tallahassee. Powerball tickets value $2 and are offered 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, because the winner has skyrocketed themselves (in the event that they weren’t there already) into the very best tax bracket (37%), the leftover tax will probably be paid when submitting 2025 taxes.
CNBC notes that many states then add on a 2.5% to 10.9% revenue 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 residence probably the most cash out there, with a lump sum of $520,674,980 or an annuity of $1,135,289,400, based on 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 things.
This weekend’s Powerball drawing is one for the report books — the $1.8 billion jackpot is now the sport’s second-highest prize of all time. (The world report is the $2.04 billion Powerball jackpot, which was received in California on Nov. 7, 2022.)
The successful ticket has an estimated money worth of $826.4 million.
“Pleasure is constructing as gamers sit up for tomorrow evening’s drawing for this historic jackpot,” stated Matt Strawn, Powerball Product Group Chair and Iowa Lottery CEO, in an announcement. “We encourage everybody to play responsibly and take satisfaction in realizing that each $2 ticket additionally helps assist good causes of their group.”
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