Powerball jackpot reaches $, but a winner won't be an instant

1 billion lottery winner after taxes
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Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

The Powerball jackpot has grown to an estimated $1 billion Here's what the winner can expect to pay in taxes  The jackpot has a cash value of $621 million if the winner chooses to take a lump sum rather than an annuity paid over 30 years, with an

lottery pick The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that 07, 2024, 1:00 Lottery ticket The over $ billion prize will be significantly smaller after taxes