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  1. Next Powerball Drawing

    06/01
    $161,000,000
    Winning numbers
    PowerballYesterdayDrawing days Wednesday & Saturday at 10:59pm ET / 7:59pm PT
    • 17
    • 34
    • 56
    • 60
    • 61
    • 09
    Power Play: 2X
    www.powerball.com
  2. 3 days ago · Jackpot. $61,200,000. State tax (4.8%) - $2,937,600. Federal tax (24%) - $14,688,000. Total tax deductions. - $17,625,600. Net jackpot after tax. $43,574,400. Notes. The cash lump sum payment is the available jackpot prize pool at the time of the draw.

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  4. Federal Tax Obligations; $0-$600: No deductions: $600.01 - $5,000: Winnings must be reported on federal income tax form: $5,000.01 and above: 24-37%, depending on prize amount

  5. Apr 7, 2024 · With a large jackpot, if the winner opted for the lump sum cash value, they would be subject to federal income tax at the top tax rate, which is 37%. (So after the 24% off the top, that is...

  6. Apr 4, 2024 · The federal tax rate of 37%, the top federal tax rate, applies to the portion of your winnings that exceeds $1 million, including lottery winnings from mega millions or Powerball. Additionally, state income taxes may also apply, depending on where you live.

  7. Mar 29, 2024 · Federal taxes on Powerball wins. Federal lottery taxes are determined by the income bracket the winnings fall into. Currently the two highest income brackets are taxed at 37% for incomes over...

  8. Lottery winnings are considered taxable income for both federal and state taxes. Federal tax rates vary based on your tax bracket, with rates up to 37%. Winning the lottery can bump you into a higher tax bracket. Lottery winnings don’t count as earned income for Social Security benefits.

  9. US$ 131,000,000. Current Lottery Jackpot. US$ 489,000,000. How big is the jackpot? Choose your state ( For tax ): Calculate Payout. Lump Sum/Cash Option Calculator. Annuity Calculator (Totals) Annuity Calculator (Per Year) Our Powerball Calculator Explained.

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