Powerball

Powerball Jackpot Soars To $725 Million: Tax Implications And State Variances

(CTN News) – The upcoming Powerball drawing on Sunday is set to offer an impressive estimated jackpot of $725 million, marking it as the third-largest Powerball prize of the year.

However, it’s important to note that the actual amount the winning ticket holder would receive after accounting for required taxes would be considerably less.

The fortunate winner will face a choice between two payout options. They can opt to receive the $725 million in 30 annual installments spread over 29 years, or they can choose a single, upfront lump-sum payment of $345.7 million.

In the case of selecting the lump-sum payment, there will be a mandatory 24% federal tax withholding, which would bring the total jackpot down to $262.7 million.

LIVE POWERBALL RESULT

Additionally, depending on the winner’s taxable income, they might be subject to a federal marginal tax rate as high as 37%, potentially reducing their winnings to as low as $217.7 million.

In certain states, lottery winnings may also be subject to state taxes, which vary in rates.

These state tax rates range from as low as 2.5% in Arizona (equivalent to $8.6 million in taxes for a $725 million jackpot win) to as high as 10.9% in New York (amounting to $37.6 million in taxes for the same jackpot win).

However, it’s worth noting that some states, such as California and Texas, do not impose state taxes on lottery jackpots.

The current jackpot stands as the eighth-largest in the history of the lottery, following a $731 million prize won in January 2021. Furthermore, if no winning ticket is drawn on Sunday, the jackpot could potentially increase even further.

Powerball Winning Numbers For September 20, 2023

16, 27, 59, 62, 63, and Powerball 23.

Powerplay was 3x

How Many Balls Do You Need to Win a Powerball Prize?

The red Powerball is the only number you need to pick correctly to winning the Powerball prize.

A $2 purchase of the Powerball alone will award you a $4 prize, meaning that you have one in 26 chances of doubling your investment (there are 26 red balls to choose from).

You must match all five white balls in any order, as well as the red Powerball, to win the Powerball Jackpot.

Here are all the Powerball payouts:

Basic Powerball Payouts:

5 Correct White Balls and the Powerball winning numbers: Jackpot (starts at $40 million, has no upper limit)
5 Correct White Balls, but no Powerball: $1,000,000
4 Correct White Balls and the Powerball: $50,000
4 Correct White Balls, but no Powerball: $100
3 Correct White Balls and the Powerball: $100
3 Correct White Balls, but no Powerball: $7
2 Correct White Balls and the Powerball: $7
1 Correct White Ball and the Powerball: $4
No White Balls, Just the Powerball: $4

Payouts for Powerball With PowerPlay:

5 Correct White Balls and the Powerball: Jackpot
5 Correct White Balls, but no Powerball: $2,000,000
4 Correct White Balls and the Powerball: $100,000–$500,000*
4 Correct White Balls, but no Powerball: $200–$1,000*
3 Correct White Balls and the Powerball: $200–$1,000*
3 Correct White Balls, but no Powerball: $14–$70*
2 Correct White Balls and the Powerball: $14–$70*
1 Correct White Ball and the Powerball: $8–$40*
No White Balls, Just the Powerball: $8–$40*

*The exact payout will depend on whether a 2X, 3X, 4X, 5X, or 10X multiplier was drawn at random. The 10X multiplier is available only when the jackpot is worth less than $150 million.

Powerball Lottery Previous Winners

On September 16, 2023, the last Powerball lottery was held.

These Powerball winning numbers were:

8 – 11 – 19 – 24 – 46 and Powerball 5

Powerplay was 2x

The Powerball jackpot for the Last Drawing was held on Saturday; The Powerball jackpot for Saturday Drawing, September 16, Jackpot was a $596 Million Jackpot, with a cash option of $284.2 Million, according to the Powerball website….

The jackpot won on Wednesday, July 19, when a lottery player in California won the $1.08 billion jackpot – the third largest Powerball ever.

The Powerball Lottery is Played Monday, Wednesday, and Saturday On Every Week.

What was the biggest Powerball jackpot?

Here are the Top 10 jackpots since the Powerball lottery began in 1992:

$1.586 billion, Jan. 13, 2016: Three winners in California, Florida, Tennessee
$768.4 million, March 27, 2019: Won in Wisconsin
$758.7 million, Aug. 23, 2017: Won in Massachusetts
$730 million, Jan. 20, 2021: Won in Maryland
$699.8 million, Oct. 4, 2021: Won in California
$687.8 million, Oct. 27, 2018: Two winners in Iowa, New York
$632.6 million, Jan. 5, 2022: Two winners in California, Wisconsin
$590.5 million, May 18, 2013: Won in Florida
$587.5 million, Nov. 28, 2012: Two winners in Arizona, Missouri
$564.1 million, Feb. 11, 2015: Three winners in North Carolina, Puerto Rico, Texas

Powerball

Powerball Numbers For June 29, 2024: Jackpot $113 Million

(CTN News) – You can win the Powerball lottery on June 29. Let’s see if you’re lucky to see the Powerball numbers today. There was a $222.6 million jackpot won on June 10 by a New Jersey lottery player.

The Powerball numbers for the $113 million jackpot were scheduled to be drawn on Saturday evening at around 11 p.m. Eastern Standard Time, and we will update the results as soon as they are released.

According to the Mega Millions website, the jackpot for the Mega Millions game is currently at $97 million with a cash option of $46.4 million.

According to the lottery, if there had been a winner following Saturday’s drawing, they would’ve taken home just shy of $60 million after taxes if they had chosen the lump-sum payment option.

Powerball Numbers For June 29, 2024

Are You Having a Lucky Today?

Here are The Powerball Numbers For Today:

26 – 51 – 54 – 61 – 69 and Powerball 25

Powerplay was 3x

Jackpocket, USA TODAY’s official digital lottery courier, sponsors winning lottery numbers.

Did anyone win Powerball?

There was a $222.6 million jackpot won on June 10 by a New Jersey lottery player.

How to play Powerball

You can buy a $2 Powerball ticket at your local convenience store, gas station, grocery store, or online in some states.

It is important to note that to play, you must select six numbers listed on your ticket. Five of these numbers will be white balls ranging from 1 to 69, while the Powerball is a red ball ranging from 1 to 26.

You can enhance your chances of winning by adding a “Power Play” for $1, which increases the winnings for all non-jackpot prizes by a factor of 2X, 3X, 4X, 5X, or 10X.

The player can also ask a cashier for a “Quick Pick”, where a cashier can give them a computer-generated set of numbers on a printed Powerball ticket.

A drawing is held every Monday, Wednesday, and Saturday night. Without a jackpot winner, the cash prize will increase by millions.

Where to purchase lottery tickets

The lottery tickets can be purchased in person at gas stations, convenience stores, grocery stores, and some airport terminals that sell lottery tickets.

Many U.S. states and territories offer online lottery tickets through Jackpocket, the official digital lottery courier of USA TODAY Network: Arizona, Arkansas, Colorado, Idaho, Massachusetts, Minnesota, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oregon, Puerto Rico, Texas, Washington D.C., and West Virginia. Jackpocket lets you pick your lottery game and numbers, place your order, see your ticket, and collect your winnings from your phone or computer.

How many Powerball numbers do you need to win a prize?

To win a Powerball prize, you need to match one number. But it has to be the Powerball worth $4. Check out powerball.com for the full prize list.

What is the Powerball payout on matching 2 lottery numbers?

You can win $4 if you match two numbers in Powerball. You can win $4 if you match two numbers and the Powerball. Visit powerball.com for the full prize chart.

Powerball 2024 drawing jackpot winners

Here is the list of 2024 Powerball jackpot wins, according to powerball.com:

$222.6 million — June 10
$842.4 million — Jan. 1; Michigan.
$1.362 million — April 6; Oregon.

Source: Powerball

Powerball

Powerball Numbers For June 26, 2024: Jackpot $95 Million

(CTN News) – You can win the Powerball lottery on June 26. Let’s see if you’re lucky to see the Powerball numbers today.

There was a $222.6 million jackpot won on June 10 by a New Jersey lottery player.

The Powerball numbers for the $95 million jackpot were scheduled to be drawn on Wednesday evening at around 11 p.m. Eastern Standard Time, and we will update the results as soon as they are released.

According to the Mega Millions website, the jackpot for the Mega Millions game is currently at $97 million with a cash option of $46.4 million.

According to the lottery, if there had been a winner following Saturday’s drawing, they would’ve taken home just shy of $60 million after taxes if they had chosen the lump-sum payment option.

Powerball Numbers For June 26, 2024

Are You Having a Lucky Today?

Here are The Powerball Numbers For Today:

4 – 9 – 36 – 47 – 56 and Powerball 7

Powerplay was 5x

Jackpocket, USA TODAY’s official digital lottery courier, sponsors winning lottery numbers.

Did anyone win Powerball?

There was a $222.6 million jackpot won on June 10 by a New Jersey lottery player.

How to play Powerball

You can buy a $2 Powerball ticket at your local convenience store, gas station, grocery store, or online in some states.

You can enhance your chances of winning by adding a “Power Play” for $1, which increases the winnings for all non-jackpot prizes by a factor of 2X, 3X, 4X, 5X, or 10X.

The player can also ask a cashier for a “Quick Pick”, where a cashier can give them a computer-generated set of numbers on a printed Powerball ticket.

A drawing is held every Monday, Wednesday, and Saturday night. Without a jackpot winner, the cash prize will increase by millions.

Where to purchase lottery tickets

The lottery tickets can be purchased in person at gas stations, convenience stores, grocery stores, and some airport terminals that sell lottery tickets.

How many Powerball numbers do you need to win a prize?

To win a Powerball prize, you need to match one number. But it has to be the Powerball worth $4. Check out powerball.com for the full prize list.

What is the Powerball payout on matching 2 lottery numbers?

You can win $4 if you match two numbers in Powerball. You can win $4 if you match two numbers and the Powerball. Visit powerball.com for the full prize chart.

Powerball 2024 drawing jackpot winners

Here is the list of 2024 Powerball jackpot wins, according to powerball.com:

$222.6 million — June 10
$842.4 million — Jan. 1; Michigan.
$1.362 million — April 6; Oregon.

More in: Powerball

Powerball

Powerball Numbers For June 24, 2024: Jackpot $84 Million

(CTN News) – You can win the Powerball lottery on June 24. Let’s see if you’re lucky to see the Powerball numbers today.

There was a $222.6 million jackpot won on June 10 by a New Jersey lottery player.

The Powerball numbers for the $84 million jackpot were scheduled to be drawn on Wednesday evening at around 11 p.m. Eastern Standard Time, and we will update the results as soon as they are released.

According to the Mega Millions website, the jackpot for the Mega Millions game is currently at $97 million with a cash option of $46.4 million.

According to the lottery, if there had been a winner following Saturday’s drawing, they would’ve taken home just shy of $60 million after taxes if they had chosen the lump-sum payment option.

Powerball Numbers For June 24, 2024

Are You Having a Lucky Today?

Here are The Powerball Numbers For Today:

5 – 6 – 36 – 53 – 69 and Powerball 8

Powerplay was 2x

Jackpocket, USA TODAY’s official digital lottery courier, sponsors winning lottery numbers.

Did anyone win Powerball?

There was a $222.6 million jackpot won on June 10 by a New Jersey lottery player.

How to play Powerball

You can buy a $2 Powerball ticket at your local convenience store, gas station, grocery store, or online in some states.

You can enhance your chances of winning by adding a “Power Play” for $1, which increases the winnings for all non-jackpot prizes by a factor of 2X, 3X, 4X, 5X, or 10X.

The player can also ask a cashier for a “Quick Pick”, where a cashier can give them a computer-generated set of numbers on a printed Powerball ticket.

A drawing is held every Monday, Wednesday, and Saturday night. Without a jackpot winner, the cash prize will increase by millions.

Where to purchase lottery tickets

The lottery tickets can be purchased in person at gas stations, convenience stores, grocery stores, and some airport terminals that sell lottery tickets.

How many Powerball numbers do you need to win a prize?

To win a Powerball prize, you need to match one number. But it has to be the Powerball worth $4. Check out powerball.com for the full prize list.

What is the Powerball payout on matching 2 lottery numbers?

You can win $4 if you match two numbers in Powerball. You can win $4 if you match two numbers and the Powerball. Visit powerball.com for the full prize chart.