What is the tax rate on the $1 billion Powerball jackpot?

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Monday's Powerball drawing was worth $ billion — the largest in history The cash option is $ million Advertisement There are two

Lottery winnings are subject to withholding as well as to federal and sometimes state taxes If you win big, plan for the taxes ahead of Powerball Annuity Calculation Table If you opt for the annuity payout you will receive the jackpot amount as a series of 30 annual payments over 29 years The

2009 world series of poker Powerball is an American lottery game offered by 45 states, the District of Columbia, Puerto Rico and the Virgin Islands, and overseen by the Use our Mega Millions Payout and Tax Calculator to calculate both annual and lump-sum payouts after federal and state tax deductions