Powerball jackpot hits $1 billion—here’s the after-tax payout in every U.S. state | AI News Digest
The Powerball jackpot has reached $1 billion, marking a significant milestone as the sixth-largest in the game's history. This comes after 39 consecutive drawings without a winner. Players have the chance to win by matching all six numbers, with smaller prizes also available. Winners can choose between a lump-sum cash option or annual payments over 30 years, but taxes will apply to their winnings. The IRS will withhold 24% immediately, and winners may face a higher tax bracket upon filing. Notably, eight states do not tax lottery winnings, while five states do not participate in Powerball.
