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And if you do win, keep in mind the federal government takes a 24 percent cut of any prize worth $5,000 or more. Most jackpot winners take the lump sum — that’s $382.5 million for Saturday’s ...
In winnings over $5,000, Rhode Island takes 5.99 percent in taxes. Powerball tickets are $2 per play. For an extra $1, players can buy the Power Play option that doubles the size of the prize.
Check Out: 5 Affordable Places ... There is a mandatory 24% federal tax withholding on that amount, which would reduce the winnings significantly — these winnings would be further reduced by the ...
In November 2022, the Powerball lottery broke records for any lottery drawing in history, with a $1.9 billion jackpot. The jackpot starts at no less than $20 million and grows by at least $2 ...
CHF 64.6 million (US$72.8 million) was the largest winner in Switzerland 's Swiss Lotto, won on 2 March 2024. [75] £35.1 million (US$49.6 million) was the largest winner on the UK Lotto game in April 2016. €38.4 million (US$49.7 million) was the largest jackpot in the Netherlands draw of the Staatsloterij (State Lottery) in May 2013.
This regulation was phased out by 1999.) All Powerball prizes must be claimed within a period ranging from 90 days to a year, depending on where the ticket was bought. Powerball winnings in California are subject to federal income tax only. Conversely, Powerball winnings in Puerto Rico are not subject
That brings your theoretical winnings to about $470 million. You’d also pay state taxes. How much obviously depends on which state you’re in. If you chose the annual-payments option, your $1.5 ...
Lottery winnings are subject to federal income tax at a rate of 24 percent, and Maryland takes 8.75 percent in taxes. The odds of winning the Powerball jackpot are steep — about 1 in 292.2 million.