It’s not too late to buy a lottery ticket and win big. Saturday’s Powerball drawing is worth an estimated $1.6 billion. 39 consecutive Powerball drawings without a win since August, making the jackpot one of the largest in U.S. history Your winnings, or 30 annual payouts over 29 years, according to the USA Mega website, mean you’ll owe another 13% at tax time, or about $101.6 million for a total of about $438.9 million. If you take the annuity option, you’ll get 30 average annual payments of about $53.3 million — before taxes. The 24% tax would be $12.8 million each year and additional federal taxes would be $6.8 million, for a total of $33.6 million. After state taxes in Nebraska, your average net worth will be $29.9 million per year, according to the USA Mega website. . After 30 payments, your total will be around $899.6 million. The largest jackpot won in Nebraska occurred in February 2006 when eight co-workers at a ConAgra Foods ham and corned beef plant in Lincoln split a $365 million Powerball jackpot. The Associated Press was used in this report. Related video above article
It’s not too late to buy a lottery ticket and try to win big.
Saturday’s Powerball drawing is worth it An estimated, record $1.6 billion.
There have been 39 consecutive Powerball drawings without a win since August, ballooning the jackpot to the largest in U.S. history.
The $1.586 billion Powerball grand prize was shared by winners in California, Florida and Tennessee in January 2016, according to Powerball.
The drawing is scheduled for Saturday at 10 p.m
You have two options when you win the lottery: receive the lump sum of your winnings or 30 annual payments over 29 years.
If you take the lump sum option, your winnings will be subject to federal tax at 24% – about $187.7 million. You’ll still owe 13%, or about $101.6 million, at tax time. USA Mega website.
Nebraska has a 5% state tax withholding — about $39.1 million — plus additional state taxes, totaling your total net payment. $438.9 million.
If you take the annuity option, you’ll get 30 average annual payments of about $53.3 million — before taxes. The 24% tax would be $12.8 million each year and additional federal taxes would be $6.8 million, bringing the total to $33.6 million.
After state taxes in Nebraska, your average net worth is about $29.9 million per year, according to the USA Mega website. After 30 payments, your total amount will be approx $899.6 million.
Largest Jackpot Won in Nebraska In February 2006, a group of eight co-workers at a ConAgra Foods ham and corned beef plant in Lincoln split a $365 million Powerball jackpot.
Information from the Associated Press was used in this report.
Related video above article
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