If you hit the $750 million Powerball jackpot, here's your tax bill

If the cash reward is chosen, the prize amount will drop to $ million after a mandatory federal tax withholding of 24% is applied

The Powerball jackpot has ballooned to an estimated $ billion ahead of Saturday night's drawing after a record streak with no jackpot

powerball jackpot 16 july 2024 Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

powerball numbers july 6 2024 Jackpot + Number of Winning Tickets Cash Value Game ; $ billion 1 $ million Powerball ; $ 4 billion 3 $ million Powerball