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☆ Powerball jackpot hits $725 million. If you win, here's the tax bill
▼ + stars: | 2023-07-11 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

The Powerball jackpot has reached $725 million by July 11, 2023. If you choose the $366.2 million cash option, the 24% withholding automatically reduces your cut about $88 million. However, many taxpayers wrongly assume they're off the hook after that 24%, Chichester said. watch nowHere's why: Millions in lottery winnings will push you into the top federal income tax bracket. You calculate taxable income by subtracting the greater of the standard or itemized deductions from your adjusted gross income.

Persons: John Chichester Jr, Chichester Organizations: Medianews, Getty, Chichester Financial Group Locations: Phoenix

☆ Powerball jackpot grows to $650 million. Here’s the tax bill if there’s a winner
▼ + stars: | 2023-07-10 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

The Powerball jackpot for July 10, 2023 has hit $650 million. Here, a cashier at a 7-11 store in Milipitas, California, issues Powerball tickets in 2022. With no winner for the Powerball jackpot, the prize has jumped to an estimated $650 million ahead of Monday's drawing. The jackpot jumped to $650 million from $615 million without a winning ticket on Saturday. If you beat the odds, you can now pick between a lump sum of an estimated $328.3 million or annual payments worth $650 million.

Persons: Roth, John Chichester Jr, Chichester Organizations: IRS, Finance, Amazon, Chichester Financial Group Locations: Milipitas , California, Phoenix

☆ Wait for a winner goes on after Powerball draw as prize rises to an estimated $650 million
▼ + stars: | 2023-07-09 | by ( Leila Sackur | ) www.cnbc.com time to read: +2 min

The prize goes up to an estimated $650 million and the wait for a winner goes on as there were no PowerBall jackpot winners in Saturday's draw. The cash option for Monday's draw will be an estimated $328.3 million, Powerball said in a news release, adding that it "ranks as the ninth largest Powerball jackpot on record," and the second largest this year. Three tickets, sold in California, Illinois and Colorado, matched the first five numbers for a prize of $1 million each, Powerball said. A player in Washington also won $754.6 million in February and the following month a player scooped $162.6 million. His winning ticket was sold at Joe's Service Center in Altadena, about 15 miles outside downtown Los Angeles.

Persons: Saturday's, Edwin Castro, Castro, Carolyn Becker, Joseph Chahayed Organizations: Saturday's, Joe's Service Locations: California , Illinois, Colorado, Ohio, Washington, Altadena, Los Angeles, Syria

☆ Powerball prize reaches $615 million, the 10th largest jackpot in history
▼ + stars: | 2023-07-08 | by ( Ashley R. Williams | ) edition.cnn.com time to read: +1 min

The potential prize for the massive Powerball jackpot just made history, lottery officials announced Friday. A fortunate player could end up taking home $615 million in Saturday’s drawing – the 10th-largest Powerball prize ever. The lucky winner of Saturday’s jackpot could choose between the annuitized $615 million prize over 30 years or to take the lump-sum payment. However, three lucky players in Florida, Ohio and New York won $1 million prizes, according to officials. A ticket sold in California won the largest-ever Powerball prize of $2.04 billion on November 7, 2022.

Persons: ” Organizations: CNN, State Lottery Association, New York Locations: Ohio, Florida , Ohio, New, California

☆ Powerball jackpot soars to $615 million. Here's how much the winner could owe in taxes
▼ + stars: | 2023-07-07 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

If you manage to score the winning ticket for the Powerball jackpot this Saturday evening, your winnings will shrink significantly after Uncle Sam takes its share. The Powerball jackpot winner can choose between a lump sum of $310.6 million cash or yearly payments worth $615 million. These are estimates until the Multi-State Lottery Association takes bids on the purchase of investments. "One thing that's unique about the lottery is that you can accept it over a 30-year period with annuity payments," said certified financial planner John Chichester Jr., founder and CEO of Chichester Financial Group in Phoenix. The odds of winning the Powerball jackpot are about 1 in 292 million.

Persons: Uncle Sam, John Chichester Jr, It's, Chichester Organizations: State Lottery Association, Chichester Financial Group, Finance, Federal, Shoppers, Amazon Prime Locations: Phoenix

☆ You could win nearly $1 billion between the Mega Millions and Powerball jackpots—how much you'd take home after taxes
▼ + stars: | 2023-07-03 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

Powerball's jackpot is worth $522 million and Mega Millions' jackpot is $400 million ahead of late-evening draws on Monday and Tuesday, respectively. For the $522 million Powerball jackpot, the lump sum payout is $269,600,000. For the Mega Millions $400 million jackpot, it's $205,000,000. Check out current Powerball jackpot payout estimates in your state, based on calculations by usamega.com. How much you'd take home after winning Mega Millions' $400 million jackpot

Organizations: Powerball, Internal Revenue Service Locations: North Dakota, New York, California, Florida , New Hampshire, South Dakota , Tennessee , Texas, Washington and Wyoming

☆ The Powerball jackpot is worth $427 million — here are the odds you'll win
▼ + stars: | 2023-06-24 | by ( Mike Winters | ) www.cnbc.com time to read: +3 min

While it's possible to win Saturday's $427 million Powerball jackpot, the odds are stacked against you. Match 5 winnings are always doubled to $2 million with the Power Play option, no matter which Power Play number is drawn. The 10 times multiplier is only available when the jackpot is $150 million or less. Considering the incredible odds, you should only wager what you're willing to lose, since winning a large payout is highly unlikely. If the numbers don't match a ticket, the jackpot funds will rollover to the next draw, which is Monday at 10:59 p.m.

Persons: Warren Buffett Organizations: National Weather Service, State Lottery Association Locations: California

☆ Powerball's jackpot climbs to $366 million — here are the 8 states where you’d win the most
▼ + stars: | 2023-06-17 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

The Powerball lottery jackpot has crept up to a sizable $366 million ahead of Saturday night's draw, but if you're lucky enough to win, the amount you actually take home is likely far less. With the annuity option, you'll receive the full jackpot amount. With the lump-sum payout, you will receive 52% of the jackpot amount, according to calculations by lottery site usamega.com. Beyond that, you also have to pay taxes. While state taxes vary, all winners pay an upfront federal withholding tax of 24% on the winnings.

Persons: you'll

A Maine resident purchased the winning ticket ahead of Friday $1.35 billion Mega Millions jackpot drawing — the second-largest in the game's history, lottery officials said. The lotto winner matched all six numbers in the game, which hasn't crowned a jackpot winner since Oct. 14. Some state lottery officials do not identify winners out of concern for their privacy and security. With no winner earlier this week, Friday’s top prize grew to surpass the $1.35 billion jackpot won in July 2022. Friday's winner can choose between accepting 30 annuity payments worth the $1.35 billion, or a one-time cash payment of $724.6 million.

☆ Lebanon, Maine — where the winning Mega Millions lottery ticket was sold — is a small town for 'woodsy introverts' with just over 6,000 residents near New Hampshire
▼ + stars: | 2023-01-14 | by ( Bethany Biron | ) www.businessinsider.com time to read: +3 min

Maine just sold its first winning Mega Millions ticket for a whopping $1.35 billion. The ticket was sold at a gas station in the small town of Lebanon. "There is not much around, but it is a quiet little town in Maine," they wrote on the site. Hometown Gas & Grill in Lebanon, Maine. A total of 1,250 retailers sell lottery products in the state, and each business receives commissions and bonuses, per the Maine Lottery.

☆ Here are the odds you'll win the $404 million Powerball jackpot
▼ + stars: | 2023-01-14 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

With the Mega Millions lottery jackpot surpassing $1 billion last week, it can be easy to overlook the Powerball jackpot growing to $404 million ahead of Saturday's draw. The Powerball jackpot is nowhere near its all-time U.S. jackpot record of $2.04 billion set last November, but nearly half a billion dollars isn't chump change, either. The odds of winning the Powerball jackpot by matching all numbers with the five white balls and red Powerball drawn are 1 in 292,201,338, according to the lottery. The Power Play prize multiplier is randomly selected before each drawing. There are some exceptions to consider, though: The $1 million multiplier prize amount is capped at $2 million and the 10 times multiplier is only in play when the advertised jackpot annuity is $150 million or less.

☆ Mega Millions jackpot is $1.35 billion. Here are 3 tips for navigating a win's 'cycles of surprise,' says advisor
▼ + stars: | 2023-01-13 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +3 min

Fatih Aktas | Anadolu Agency | Getty ImagesThere's a chance a Mega Millions player is on the verge of joining a very short list: winners who snag a jackpot worth more than $1 billion. That's how much you'd win if you were to take the windfall as an annuity paid out over three decades. Between Mega Millions and Powerball, there have been winners of five other jackpots totaling more than $1 billion, including one worth more than $2 billion. If Friday's drawing produces a winner (or winners), the amount would mark Mega Millions' second-largest jackpot ever and the fourth-largest lottery prize in history. That's when the jackpot was reset to $20 million after two tickets sold in Florida and California split a $502 million grand prize.

You still have a shot at becoming a Mega Million billionaire. Nobody matched the six numbers — 7, 13, 14, 15, 18 and Mega Ball 9 — Tuesday night to win the $1.1 billion jackpot, which means the prize will keep growing. When the numbers are drawn again Friday night, the jackpot will be worth about $1.35 billion, the second-highest top prize in the game's history, according to the Mega Millions website. Tuesday's $1.1 billion was the third-highest amount for a Mega Millions jackpot, bested only by the $1.5 billion won in October 2018 and the $1.3 billion in July 2022. Under that “lump sum” choice, the most money a winner was likely to see from the jackpot was very close to one-third of the $1.1 billion, $363.4 million, the publication said.

No one won the last Mega Millions drawing, sending its jackpot soaring to $1.35 billion. It's the second-largest prize in Mega Millions history. The Mega Millions jackpot is estimated at $1.35 billion, the second-highest Mega Millions top prize ever recorded. The next drawing for the jackpot is scheduled for Friday, January 13, according to the Mega Millions website. Still, some research suggests that lottery winners do tend to end up happier than others.

☆ With no winner Mega Million jackpot climbs to $1.1B
▼ + stars: | 2023-01-07 | by ( Antonio Planas | Antonio Planas Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +1 min

No one claimed a winning $940 million Mega Millions jackpot Friday night — boosting the next drawing to more than $1 billion. No one has won the Mega Millions top prize since Oct. 14, when the jackpot was $502 million. The biggest Mega Millions jackpot ever won was a $1.5 billion prize in 2018. The largest lottery jackpot ever won in the U.S. was the $2.04 billion Powerball jackpot won in November. Mega Millions is played in 45 states as well as in Washington, D.C., and the U.S. Virgin Islands.

☆ Mega Millions jackpot surpasses estimated $565M
▼ + stars: | 2022-12-27 | by ( The Associated Press | ) www.nbcnews.com time to read: +1 min

The holiday shopping season — for Mega Millions lottery ticket buyers, at least — is ramping up as officials say the estimated jackpot for Tuesday night’s drawing has surpassed half a billion dollars. Tickets sold in California and Florida for an Oct. 14 drawing shared the last Mega Millions jackpot of $502 million. Lottery officials say there have been 11 winning jackpots of $500 million or more since Mega Millions began in 2002. The record Mega Millions jackpot is more than $1.5 billion, won in 2018, and a jackpot surpassing $1.3 billion was won in Illinois in July. The largest U.S. lottery jackpot ever won was $2.04 billion in November.

☆ South Dakota Powerball Winner Sells 50,000-Acre Ranch for $37 Million
▼ + stars: | 2022-12-24 | by ( Katherine Clarke | ) www.wsj.com time to read: 1 min

Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. After South Dakota cowboy Neal Wanless won a $232.1 million Powerball jackpot in 2009, he spent some of the winnings on a roughly 50,000-acre ranch north of Rapid City. Now he has sold that ranch for $37 million, more than double what he paid, according to listing agent Robb Nelson of Hall and Hall.

☆ South Dakota Cowboy Sells Ranch He Bought With $232.1 Million Powerball Winnings for $37 Million
▼ + stars: | 2022-12-23 | by ( Katherine Clarke | ) www.wsj.com time to read: 1 min

☆ You Might Not Want to Win a Roman Lottery
▼ + stars: | 2022-11-26 | by ( Amanda Foreman | ) www.wsj.com time to read: 1 min

Historian Amanda Foreman searches the past for the origins of today’s world. Someone in California won this month’s $2.04 billion Powerball lottery—the largest in U.S. history. The odds are staggering. The likelihood of death by plane crash (often estimated at 1 in 11 million for the average American) is greater than that of winning the Powerball or Mega Millions lottery (1 in roughly 300 million). Despite this, just under 50% of American adults bought a lottery ticket last year.

☆ Maricopa County elections official moved to 'undisclosed location' for his safety following social media threat
▼ + stars: | 2022-11-21 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Summer-Concepcion-Byline-Jm.Jpg | Summer Concepcion | ) www.nbcnews.com time to read: +4 min

A top elections official in Maricopa County, Arizona, has been moved to an undisclosed location for his safety following threats on social media related the midterm elections, the county confirmed to NBC News on Monday. The official, Bill Gates, the chairman of the Maricopa County board of supervisors, did not immediately respond to a request for comment on Monday. Election workers like Gates have experienced a rise in threats following the 2020 election and former President Donald Trump’s election lies. No one has been disenfranchised,” Gates told reporters in downtown Phoenix on Election Day, following reports of equipment problems. “We have hiccups,” Gates told NBC News at the time.

☆ Still not sure what crypto is? Join the club
▼ + stars: | 2022-11-15 | by ( Allison Morrow | ) edition.cnn.com time to read: +10 min

The original crypto, bitcoin, emerged in 2009, out of the ashes of the worst financial crisis in modern history. The term “crypto” harkens to the way the networks are secured, using cryptographic systems (think: really, really elaborate encryptions) that make the tokens virtually impossible to counterfeit. Once the transaction is verified by the network it is stored — forever — in an immutable “block.”Bottom line: Blockchain is the underlying technology of the crypto world. And like, sure, people are starting to adopt blockchain systems outside the world of crypto, and they do seem to hold promise. The bitcoin network went public in 2009, created by an anonymous developer (or group of developers) using the name Satoshi Nakamoto.

☆ Here are 4 ways to take advantage of your health-care expenses before the end of the year
▼ + stars: | 2022-11-13 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +5 min

Take advantage of reaching your deductibleIf you've met your plan's deductible, you may be able to pay less for qualifying health-care services before the end of the year than you would after the deductible resets Jan. 1. Once you've met your plan's deductible, you may or may not face copays or coinsurance — it depends on your plan's out-of-pocket maximum, which may be higher. See if you can get the medical expense tax deductionThere is a tax deduction for medical expenses, although it comes with parameters that prevent some taxpayers from using it. For starters, you can only deduct health-care expenses that exceed 7.5% of your adjusted gross income. Its gains grow tax-free, and as long as withdrawals are used for qualifying medical expenses, tapping those funds also comes with no tax.

☆ Inside the frightening, thrilling experience of driving the quickest car in the world, the $2 million Pininfarina Battista
▼ + stars: | 2022-11-12 | by ( Tim Levin | ) www.businessinsider.com time to read: +7 min

I tested the Pininfarina Battista, a dizzyingly quick electric supercar that costs $2.2 million and up. That's kind of what driving the Pininfarina Battista is like. The Pininfarina Battista. Tim Levin/InsiderThe $2.2 million, 1,900-horsepower electric supercar is mind-bendingly, frighteningly quick, recently claiming the world acceleration record for a street-legal car. The Pininfarina Battista.

☆ I drove a $2 million electric car with 1,900 horsepower and saw the unimaginably fast future of supercars
▼ + stars: | 2022-11-12 | by ( Tim Levin | ) www.businessinsider.com time to read: +7 min

I drove the Pininfarina Battista, a new electric supercar that costs $2.2 million and up. The Pininfarina Battista. Tim Levin/InsiderThe $2.2 million, 1,900-horsepower electric supercar is mind-bendingly, frighteningly quick, promising to hit 62 mph from a standstill in less than two seconds. The Pininfarina Battista. The Pininfarina Battista.

☆ Tennessee man breaks into woman's home and kidnaps her over lottery ticket, before assaulting officers, police say
▼ + stars: | 2022-11-10 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +3 min

A Tennessee man broke down the door of his ex-girlfriend’s home, kidnapped and attacked her in a rage, upset that he did not receive a lottery ticket and claiming she owed him money, authorities said. She told officers he was upset “due to him not receiving his lottery ticket and money he felt he was owed." It's not clear if she had a lottery ticket on his behalf. The woman told officers she couldn’t breathe for about five seconds, according to the affidavit. Hanes allegedly continued to ask for money, specifically $10,000 and she said she didn’t have that type of money to give him.

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