What winners keep in each state

Powerball’s jackpot has climbed to $1.8 billion forward of Saturday evening’s drawing at 10:59 p.m. ET.

No one has gained since May, making it the third-largest jackpot in U.S. historical past, and it may climb previous $2 billion if there isn’t any winner and the prize carries over to Monday evening’s drawing. That can be solely the second time Powerball has reached $2 billion. 

The final jackpot over $1 billion was claimed in April 2024. The largest since then was a $526.5 million win in March.

To declare the prize, you want to beat odds of 1 in 292,201,338 and match all six numbers, together with the pink Powerball. Smaller prizes are additionally out there, together with $1 million for matching all 5 white balls with out the Powerball.

Whichever possibility you’re taking, 24% is withheld for federal taxes immediately. The prize would nearly actually place you in the highest 37% federal bracket, which means you’ll owe the rest when submitting your 2025 tax return.

Most collaborating states additionally impose their very own earnings taxes, which vary from 2.5% to 10.9%. Eight states don’t tax lottery winnings in any respect: California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming.

Based on a high federal tax price of 37%, here’s what the full after-tax payout can be in each state and Washington, D.C., for each the lump sum and the 30-year annuity, in accordance with USAMega.com.

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