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Powerball Lottery Tax on $800 Million Jackpot

Winning the Powerball lottery jackpot requires a ticket holder to match six numbers from the Powerball drawing. The next drawing is today (Saturday, October 29), and the chances of someone winning the $800 million Powerball jackpot are about one in 292.2 million.

But stranger things have happened with recent lottery drawings. For example, lottery officials point out that the Powerball has been hit six times so far this year. So, that has a lot of people thinking about how much money the lucky winner of the Powerball jackpot would take home—after taxes, that is.

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