Sun Nov 09 11:10:00 UTC 2025: Summary:

The Powerball jackpot has climbed to $467 million after no one matched all six numbers in Wednesday’s drawing. The winning numbers were 9, 17, 29, 61, 66, and Powerball 26. While the jackpot is substantial, the actual take-home amount will be significantly less due to federal and potential state taxes. Winners can choose between an annuity or a lump-sum payment. The next drawing is Saturday, and Mega Millions has a drawing for $843 million the day before.

News Article:

Powerball Soars to $467 Million, But Taxes Will Take a Bite

By News Staff

The Powerball jackpot has reached a staggering $467 million after no ticket matched all six numbers in Wednesday night’s drawing. The numbers drawn were 9, 17, 29, 61, 66, and the red Powerball number 26.

Lottery hopefuls across the nation are dreaming big, but potential winners should be aware that Uncle Sam (and possibly their state) will be taking a significant chunk of the prize.

While the advertised jackpot is $467 million, the winner has the option of taking a lump-sum cash payout, currently estimated at $220.7 million. However, that amount is immediately reduced by a mandatory 24% federal withholding, bringing it down to $167.7 million. Furthermore, the winner will likely fall into the top federal marginal tax bracket of 37%, further reducing the winnings to approximately $139 million.

Choosing the 30-year annuity option would result in annual payments of around $15.6 million, which would decrease to $9.8 million after federal taxes.

The taxman may not be the only thing to worry about. Lottery winnings are subject to state taxes, which vary widely. Residents of states like New York could face an additional tax of 10.9%, while those in Texas, Florida, and California enjoy tax-free lottery winnings.

The next Powerball drawing is scheduled for Saturday night. Lottery players also have their eyes set on the Mega Millions, with a drawing set for Friday offering an even larger jackpot of $843 million.

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