The estimated Powerball jackpot for today's drawing is $1.5 billion, if the winner agrees to receive it in yearly installments over 30 years. Most states tax lottery winnings like regular income; others don’t touch lottery windfalls. State income taxes for the highest bracket vary from 0 to 9.9%–excluding California and Pennsylvania, which exempt lotto winnings.
METHODOLOGY: Bloomberg analyzed tax amounts to be paid by a single winner of the January 13 Powerball jackpot across 50 states and the District of Columbia. Figures do not include municipal income taxes, which may apply for residents of certain cities. Lottery winners who buy a winning ticket in a state in which they do not reside can be partially or wholly taxed by a second state, depending on both states' tax reciprocity laws. The estimated Powerball jackpot climbed to $1.3 billion after Saturday night's much-anticipated drawing, whose results failed to match all six numbers on any of the lottery tickets sold, officials said. Six of them were sold in California -- in Fremont, Stockton, Nice, Dana Point, Nipton, and Mountain Pass, state lottery officials said.
The jackpot had skyrocketed on Saturday morning, two days after no one matched all five numbers and the Powerball number to win the game's $500 million prize on Wednesday night.


One person in New Mexico took home a $2 million prize from Wednesday's drawing; a dozen other players, including one in California, matched 5 numbers to win $1 million each, according to the Powerball website. Previously, the biggest prize in lottery history was won back in 2012, when three winning tickets split a Mega Million draw that had ballooned to $656 million on March 30. IOWA CITY, Iowa (AP) — The group that runs the Powerball lottery game approved, then abandoned, changes that would have given ticket buyers more bang for their two bucks than the redesign recently implemented, The Associated Press has learned.
The tornado touched down in an area bordered by Gleason Parkway to the north, Cape Coral Parkway to the south, Pelican Boulevard to the east, and Sands Boulevard to the west, Cape Coral police said.
Residents needing assistance were being advised to head to Oasis High School, where the American Red Cross was set up Saturday night. In seconds, Michael Traeger went from not being worried about the weather to being a casualty of it. Here's what states collect in the tax year, and the final payout a resident of that state could expect.
13: A previous version of this graphic incorrectly said that Wyoming does not participate in Powerball. The top income tax rate was used for the entire prize amount at both federal and state levels.


13, for a jackpot that was worth about $1.3 billion, the website said, adding that the one-time cash payment value of that prize was $806 million. A single ticket in Florida matched all six numbers to take home the grand prize on May 18, 2013. Parts of Cape Coral, Fort Myers and Sanibel Island, as well as parts of Charlotte, Hendry and Collier counties, were without power, according to the Lee County Electric Cooperative. Some states withhold more or less than is actually owed, which is reconciled when the winner files his or her taxes the following year. Residents of states that do not offer Powerball are eligible for prizes on tickets bought in other states. The IRS takes a hefty cut off the top of lottery winnings–and most states demand a chunk of their own. The final amount owed could change further based on deductions and other actions taken by the winner during the tax year.



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