Powerball Jackpot Hunt Continues
The hunt for the next Powerball billionaire is still on as the latest drawing didn’t produce a winner.
No Billionaire Yet
In Wednesday’s Powerball drawing, no one managed to snag the staggering $1.2 billion jackpot. The winning numbers for this elusive prize remained unclaimed.
What’s Next?
The journey to find the next Powerball billionaire continues. The next drawing, now boasting a grand prize of $1.4 billion, is scheduled for Saturday, October 7.
Consolation Prizes Await
If you don’t strike it rich with the jackpot, don’t rush to discard your tickets. There are still consolation prizes to be won. For instance, during the October 4 drawing, two lucky tickets in California matched five numbers, earning their owners a cool $1.2 million.
Calculating Your Winnings After Taxes
While dreaming of how you’d spend your newfound fortune, remember that every lottery winner has to consider one thing: taxes.
Post-Tax Payout
So, how much money do you actually receive after the taxman takes his share? It all depends on a few factors. Firstly, do you live in a state that imposes state taxes on your winnings? And secondly, are you opting for the lump sum or annuity payment?
According to Powerball’s official website, if you choose the annuity option, you’ll receive one immediate payment followed by 29 annual installments.
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