How Much Actually Gets Into Your Pocket From The $400 Million Powerball Jackpot, And Where Does It All Go?
/The $400 million Powerball jackpot hits the top spot at a convenience store in the Minneapolis skyway system. Photo: AP
Prepare to be shocked. That $400 million jackpot for the USA Powerball - how much do you think you'll get?
Here's how the advertised prize differs dramatically from what you receive...
First you decide whether you'll take a lump sum, or an annuity dripped out in 30 years of annual payments.
If you choose the lump sum, that makes it $227.8 Million.
Up to 45% of that amount gets taken by state and personal taxes, which leaves just $102 million.
So only a quarter of the prize will find its way into your pocket.
Spend it wisely!
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