This Monday, on Halloween night, the Powerball lottery draw was held in which $1 was at stake,000 million dollars, which had no winner, so now the amount at stake has risen to $1,200 million.
The next Powerball draw will take place on Wednesday 02 in November, where thousands of people who are regulars at this game they will be very attentive to find out if they are the winners of one of the maximum amounts drawn in their history.
Although $1,40 millions is an exorbitant amount of money and whoever gets it will take home a significant sum, it is also necessary to know that whoever wins the Powerball will not pocket that amount, since several must still be subtracted from it tax deductions.
How much money would the person who wins the $1,200 million take away Powerball
The first thing to know is that whoever wins a major Powerball prize has the option to choose between receiving a single payment or receiving their money in annuities during the next 29 years.
If you opt for the single payment, which is the one that is mostly chosen, whoever hits the combination next Wednesday, according to Forbes, will be taking an approximate amount of $597 million.
To this, you still have to subtract the 24% of the federal tax, giving a total of $454 million, a figure that could decrease even taking into account state and municipal taxes, reducing around $200 million.
For those who decide to receive the Powerball prize in annuities, they will receive around $40 million a year, although this would be reduced to $24 million by federal taxes and proba would likely be further reduced by state and city taxes.
Wednesday’s upcoming Powerball drawing will be the second largest Powerball jackpot in its history and the fourth largest lottery prize in history. the history of the United States.
It may interest you:
New York lottery mistake: player won much less money than advertised
The last minute strategy that made Powerball player in New Mexico will double your winnings with a winning ticket
Mega Millions, Powerball: Phone applications that help you win the lottery