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$1 billion Powerball jackpot cut to less than $600 million in 31 states by taxes: Data

  • Powerball climbed back to an estimated $1 billion jackpot — the eighth-largest in the game's history.
  • The advertised prize has a cash value of $422.3 million, but federal and state taxes (and your choice of annuity vs. lump sum) can cut the take-home amount dramatically.
  • Winners are urged to keep it quiet and assemble a team (financial, tax, legal); your chance of winning any Powerball prize is about 1 in 24.87 and the next drawing is Wednesday night.
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