Powerball winners, who are advised to seek financial counsel before making decisions, have two options to collect the prize: $997.6 million in a lump sum. About $2 billion in an annuity of 30 graduated payments over 29 years.
Most winners take the lump sum payout. No one has chosen annuity paymentsOur winner could also be subject to state taxes, depending on their state residence.
Some states tax lottery winnings, from 2.9% in North Dakota to 8.82% in New York. Some cities tax winnings as well.Alternatively, our winner can take home nearly the total amount in
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