Powerball Jackpot Tops 605 Million After Taxes

The next Powerball drawing is Monday night and taxes cut the final take for a potential winner.

Powerball Jackpot Reaches 605 Million After Tax Bite

The Powerball jackpot has climbed to 605 million after Saturday's drawing produced no winner. The next drawing is Monday night. The winning numbers were 23, 40, 49, 65, 69 and Powerball 23. A winner would face a choice between receiving the full 605 million as 30 annual payments over 29 years or taking a lump sum of 273.4 million upfront.

If the choice is the lump sum, federal withholding of 24 percent reduces the amount to about 207.8 million. After applying the top federal marginal rate of 37 percent, the take would be about 172.2 million. If the winner selects the annuity, the annual payments would average over 20 million before taxes but drop to about 12.7 million per year after taxes. State taxes could reduce the total further depending on where the winner lives.

Tax rules turn a lottery dream into a financial decision. The headline number suggests instant wealth, but the cash reality is far smaller after federal withholding and the top marginal rate. Winners often misread the payout because the big number on the page is not the amount that lands in their bank. The choice between lump sum and annuity matters for long term planning and risk, and it is shaped by tax policy and state rules.

The story also reveals the tension between public celebration and personal responsibility. Large prize talk can spark interest in how money is taxed, how it affects spending, and how communities benefit or miss out as funds flow through state programs and private accounts. In short, the math of one ticket has consequences far beyond the winner alone.

Highlights

The numbers remind us that luck comes with a tax bill that never goes away.