Powerball’s jackpot has climbed to $1.8 billion ahead of Saturday night’s drawing at 10:59 p.m. ET.
No one has won since May, making it the third-largest jackpot in U.S. history, and it could climb past $2 billion if there’s no winner and the prize carries over to Monday night’s drawing. That would be only the second time Powerball has reached $2 billion.
The last jackpot over $1 billion was claimed in April 2024. The largest since then was a $526.5 million win in March.
To claim the prize, you need to beat odds of 1 in 292,201,338 and match all six numbers, including the red Powerball. Smaller prizes are also available, including $1 million for matching all five white balls without the Powerball.
How much you’d actually take home after taxes
Winners can choose between two payout options: the full jackpot paid out as annual installments over 30 years or a lump-sum cash payment worth about 45% of the advertised prize.
Whichever option you take, 24% is withheld for federal taxes immediately. The prize would almost certainly place you in the top 37% federal bracket, meaning you would owe the remainder when filing your 2025 tax return.
Most participating states also impose their own income taxes, which range from 2.5% to 10.9%. Eight states do not tax lottery winnings at all: California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming.
Based on a top federal tax rate of 37%, here is what the total after-tax payout would be in each state and Washington, D.C., for both the lump sum and the 30-year annuity, according to USAMega.com.
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Vermont
Virginia
Washington
Washington, D.C.
West Virginia
Wisconsin
Wyoming
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