Powerball Hit
On Wednesday night, the Powerball jackpot topped $366 million. The prize had been unclaimed for over two months, but a winning ticket was bought in Vermont. The ticket holder became the first person in the state to win the jackpot. They chose to take their winnings as an annuity over 29 years, rather than cash out the entire sum. They also took into account the taxes, which could eat into their winnings.
If you want to play the US Powerball lottery but don’t live in the US, you can buy tickets online. You can even buy the tickets and send them to the lottery office in your state. The Powerball website offers a map to its state lottery pages so you can find the information you need to claim your prize. On January 13, 2016, the Powerball lottery set a world record jackpot at $1.586 billion. That record will be held through 2021.
The US Powerball lottery is played by 48 state lotteries. You need six or more lucky numbers to play. You can buy multiple tickets, and if you match all six numbers, you can win a prize worth up to $1 million. The US Powerball draw is held every Monday, Wednesday, and Saturday at 10:59 PM Eastern time. It is important to note that you must buy your tickets 59 minutes before the drawing or your ticket will be invalid.
There are several ways to determine how much you might win if you play the US Powerball Lottery. For example, you can use a Powerball payout chart to determine how many numbers you need to match in order to win a prize. The chart will also tell you the odds of winning, based on statistics from past winners.
Did Powerball Hit Last Night?
Powerball winners in the US must pay federal taxes on their winnings. The federal rate is based on a person’s total annual income. A Powerball winner must pay a minimum of 25 percent in federal taxes, and state taxes vary by state. In the US, the federal government makes an automatic withholding of about two-thirds of the prize amount, which is usually around twenty-five percent. Most states also levy local withholdings. However, Tennessee and South Dakota do not require any tax withholding from winners.
If you’ve recently won a Powerball lottery prize, you may have wondered if you can convert the prize to cash and avoid paying taxes. Fortunately, this option is possible if you play in the right state. While Texas has a law allowing the conversion, New York doesn’t. Regardless, you should carefully consider whether you want to take a lump sum or annuity to minimize your tax burden.
Generally, you have 60 days after winning to decide if you want to receive a lump sum of money or an annuity. However, if you win the jackpot in Florida or Missouri, you’ll have to decide between cash and annuity right away. However, if you win in Texas or New Jersey, you can change your annuity ticket to cash. The cash option was introduced in 1997 and phased out by 1999.
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