Powerball Jackpot Swells To $1.5 Billion After No Ticket Wins Wednesday’s Draw-Here’s How Much Tax A Winner Would Pay
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No one won Wednesday's Powerball draw, so the jackpot has swelled to nearly $1.5 billion.
The Powerball jackpot is worth an estimated $746 million. It's the second-largest in the lottery's history and the third-biggest in U.S. history. The annuity payment is set to be $50 million a year, but this would be reduced to $31.5 million by federal taxes and further reduced by state and city taxes. More than 7.2 million tickets won cash prizes of nearly $75 million in Wednesday's draw. The odds of winning the PowerBall lottery are 1 in 292.3 million, while the odds for lightning and sharks are less than 1.1 million and 1 million respectively.
