Powerball drawings take place twice a week on Wednesdays and Saturdays. What time is the Powerball drawing? How much is the Powerball jackpot? Powerball jackpots roll over until there is a winner or multiple winners. Once one or multiple winners have hit the grand prize, the Powerball resets to the minimum jackpot. You can find the. A single Powerball ticket purchased in Maryland is worth $731.1 million. After growing for four months with no big winner, the top prize — the sixth-largest in lottery history — was snagged.
Below is an analysis of the current Powerball jackpot, showing both the advertised Annuity and Lump Sum amounts and their ultimate worth after taking into account federal and state tax. You can also view the Powerball annuity payout table further down, which details the amount a single winner of the jackpot would receive each year from their lucky win should they choose the annuity option. You can view the latest Powerball Payout here.
By Alex Kiam
Powerball Jackpot Pa
Current Jackpot Analysis
How Much Is The Powerball Jackpot
| Jackpot Type | Annuity | Cash Lump Sum |
|---|---|---|
| Initial Advertised Value | $42,000,000.00 | $31,000,000.00 |
| Federal Tax: | -$10,080,000.00 | -$7,440,000.00 |
| State Tax: | -$0.00 | -$0.00 |
| Final Total* | $31,920,000.00 | $23,560,000.00 |
* Please Note: In addition to federal and state tax, some cities and counties may also levy an additional local income tax, which will be applied on top of all other tax. Check with your local authority to see if this applies to you.
Current Mega Millions Powerball Jackpots
Powerball Annuity Calculation Table
Jackpot winners who opt for the annuity payout will receive their winnings over a period of thirty years, with payouts increasing by 5% year-on-year. The table below shows a breakdown of the gross annuity value and the applicable federal and state tax for each year.
| Year | Gross Annuity Value | Federal Tax (24%) | State Tax (0%) | Net Total |
|---|---|---|---|---|
| 1 | $632,160.27 | -$151,718.47 | -$0.00 | $480,441.81 |
| 2 | $663,768.29 | -$159,304.39 | -$0.00 | $504,463.90 |
| 3 | $696,956.70 | -$167,269.61 | -$0.00 | $529,687.09 |
| 4 | $731,804.54 | -$175,633.09 | -$0.00 | $556,171.45 |
| 5 | $768,394.76 | -$184,414.74 | -$0.00 | $583,980.02 |
| 6 | $806,814.50 | -$193,635.48 | -$0.00 | $613,179.02 |
| 7 | $847,155.23 | -$203,317.25 | -$0.00 | $643,837.97 |
| 8 | $889,512.99 | -$213,483.12 | -$0.00 | $676,029.87 |
| 9 | $933,988.64 | -$224,157.27 | -$0.00 | $709,831.36 |
| 10 | $980,688.07 | -$235,365.14 | -$0.00 | $745,322.93 |
| 11 | $1,029,722.47 | -$247,133.39 | -$0.00 | $782,589.08 |
| 12 | $1,081,208.60 | -$259,490.06 | -$0.00 | $821,718.53 |
| 13 | $1,135,269.03 | -$272,464.57 | -$0.00 | $862,804.46 |
| 14 | $1,192,032.48 | -$286,087.79 | -$0.00 | $905,944.68 |
| 15 | $1,251,634.10 | -$300,392.18 | -$0.00 | $951,241.92 |
| 16 | $1,314,215.81 | -$315,411.79 | -$0.00 | $998,804.01 |
| 17 | $1,379,926.60 | -$331,182.38 | -$0.00 | $1,048,744.21 |
| 18 | $1,448,922.93 | -$347,741.50 | -$0.00 | $1,101,181.42 |
| 19 | $1,521,369.07 | -$365,128.58 | -$0.00 | $1,156,240.50 |
| 20 | $1,597,437.53 | -$383,385.01 | -$0.00 | $1,214,052.52 |
| 21 | $1,677,309.40 | -$402,554.26 | -$0.00 | $1,274,755.15 |
| 22 | $1,761,174.87 | -$422,681.97 | -$0.00 | $1,338,492.90 |
| 23 | $1,849,233.62 | -$443,816.07 | -$0.00 | $1,405,417.55 |
| 24 | $1,941,695.30 | -$466,006.87 | -$0.00 | $1,475,688.43 |
| 25 | $2,038,780.06 | -$489,307.21 | -$0.00 | $1,549,472.85 |
| 26 | $2,140,719.07 | -$513,772.58 | -$0.00 | $1,626,946.49 |
| 27 | $2,247,755.02 | -$539,461.20 | -$0.00 | $1,708,293.81 |
| 28 | $2,360,142.77 | -$566,434.26 | -$0.00 | $1,793,708.50 |
| 29 | $2,478,149.91 | -$594,755.98 | -$0.00 | $1,883,393.93 |
| 30 | $2,602,057.40 | -$624,493.78 | -$0.00 | $1,977,563.63 |
| TOTALS | $42,000,000.00 | -$10,080,000.00 | -$0.00 | $31,920,000.00 |
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About Powerball Lottery
Powerball is a lottery game that is popular in America (USA). And the draw of this lottery takes place at Tallahassee, Florida. There are six balls in Powerball lottery and each has a number written on it. Five balls are white, and one ball is red. This lotto is being played actively in all states of the US except Nevada, Alabama, Mississippi, Utah, Alaska, Hawaii. History of this lottery is really interesting, It started in 1992 to raise funds for good cause. It is giving a fair chance to anyone can become a millionaire. Nowadays, you can play it by sitting at home because everything is available online. In its early days, the Ticket price was $1 for each play, and powerplay was additional $1 if you want to choose. Later the ticket price has been raised to $2, and power play remains the same. It has numbers from 1 to 69, and you have to choose five numbers to play a game. Power Ball has numbers from 1 to 26, and you have to choose one number. Read more about Powerball