26 C
Singapore
Saturday, November 26, 2022
Ads

A SINGLE PERSON WON THE S$2.86 BILLION POWERBALL LOTTERY IN CALIFORNIA

The PowerBall jackpot of USD2.04 billion (about SGD$2.86 billion) has been drawn on Monday! The lucky one in Altadena, Calif., wins. This is the largest jackpot prize in US lottery history!

Advertisements

After 40 draws of no winners, the jackpot accumulated to this amount.

The winning numbers are 10,33,41,47,56 and 10.

How much will the winner actually receive after taxes:

Powerball winnings have two options, to receive the winnings in a lump sum at a smaller amount or receive a payout every year.

According to the tax law in California, here is what the winner will take home:

Advertisements

Lump sum payoutAnnuity payoutDifference
Gross Payout$1,428,000,000*$2,040,000,000$612,000,000
Federal Tax (24%)$342,720,000$489,600,003$146,880,003
Federal Tax** (up to 37%)$185,604,072$264,122,169$78,518,097
State Taxes$0$0$0
Net Payout$899,675,928$1,286,277,839$386,601,912

What is Powerball?

The jackpot returns to 20 million, and a single cashout will give you $9.8 million (before taxes). PowerBall draws every Monday, 3rd, and the 6th night, spend $2, and you may be the winner of this grand prize.

Powerball (USA Powerball) is coordinated and operated by the Multi-State Lottery Association, a non-profit organization in the United States, and the prize pool is shared across states. Powerball is also one of the most prized lotteries in the United States, with jackpots set to start at $20 million.

- Advertisement -
- Advertisement -
Latest News

COUPLE IN A “POWER STRUGGLE” BECAUSE GIRLFRIEND EARNING 2X OF BOYFRIEND’S SALARY

I’ve been together with my partner for 1.5 years and do think that he is someone I would like...
- Advertisement -