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The lump sum payment will face a mandatory federal tax withholding of 24%, leaving the winner with $392.76 million. Depending on the winner's taxable income, their winnings could drop as low asR$325.6 million if the federal marginal rate of 37% is applied.

Powerball Jackpot Rises ToR$1 Billion Here's How Much The Winner ...
forbes : sites : siladityaray : 2024/07/18 : powerball-jackpot-ri...

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Lottery winners can claim their winnings in one lump sum payment or annual payments over time. Lottery winnings are treated as regular income and subject to state and federal income taxes.

How lotteries work and 3 key steps to take if you win one
businessinsider : personal-finance : how-does-the-lottery-work

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