This is how much you’d get in NC for winning the $1.5 billion Powerball jackpot
After no one claimed the $1.2 billion Powerball jackpot prize, the purse is expected to grow to a whopping $1.5 billion.
If a player wins Saturday’s jackpot, it will be the second-largest total in Powerball history, according to lottery officials. The odds of winning the jackpot are 1 in 292.2 million.
Winners of the record-setting jackpot can opt for 30 annuity payments over 29 years, or choose to receive the prize all at once.
The cash option for this jackpot is $745.9 million, according to the Powerball website, but a federal tax of 24% would deduct $179 million from that amount.
The winner would also likely have to pay a 13% tax, or about $97 million, to the IRS, CNBC reported. If the winner is from North Carolina, a 5.25% tax – or roughly $39 million – would be due to the state, leaving the winner with $430 million.
