Powerball Jackpot Climbs to $567 Million After No Ticket Hits 6 Numbers
Updated
Updated · Forbes · Jul 21
Powerball Jackpot Climbs to $567 Million After No Ticket Hits 6 Numbers
3 articles · Updated · Forbes · Jul 21
Summary
$567 million is now at stake for Wednesday night’s Powerball drawing after no ticket matched all six numbers in Monday’s draw.
The next winner can choose either 30 annual payments or a $251.8 million cash option, which would fall to about $191.4 million after the mandatory 24% federal withholding.
At the top 37% federal rate, the cash payout would shrink further to roughly $158.6 million, while some states would also tax winnings and others, including Texas, Florida and California, would not.
The jackpot is the second lottery prize above $550 million this year, trailing Mega Millions at $707 million, while Powerball’s jackpot odds remain 1 in 292.2 million.