The Powerball jackpot topped an estimated $725 million without a winner Monday night.
It’s the seventh-largest prize in the game’s history, but the prize drops substantially after taxes.
There’s a mandatory 24% federal withholding before winners see a dollar of the multimillion-dollar jackpot.The Powerball jackpot topped an estimated $725 million ahead of Wednesday’s drawing, becoming the seventh-largest prize in the game’s history, according to the lottery.
But those winnings drop substantially after taxes.
If you score the winning ticket, there are two choices for the windfall: an estimated $366.2 million lump sum or an annuitized prize that pays out yearly and is worth $725 million. READ MORE
