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Powerball Jackpot Nears $350 Million—Here’s What The Winner Could Take Home After Taxes
Key takeaways
- If a winner emerges in the next draw, they can choose between taking the $348 million prize, split over 30 annual installments, or a one-time cash payment of $157.5 million—the preferred choice for most winners.
- If the lump-sum option is chosen, the winnings will first drop to around $119.7 million after a mandatory 24% federal withholding is applied.
- The winner would likely face a federal marginal rate as high as 37%, depending on their taxable income, further reducing the winnings to around $99 million.
Topline The Powerball jackpot rose to $348 million—the third biggest lottery prize of 2026 so far—after no tickets matched all six numbers drawn on Wednesday night, although the eventual winner will take home a much smaller payout after taxes and deductions.
Powerball lottery tickets are displayed for customers to fill out at a convenience store.Copyright 2025 The Associated Press. All rights reserved.Key Facts. The six numbers drawn on Wednesday night were 3, 14, 16, 21, 38 and Red Powerball 14.
If a winner emerges in the next draw, they can choose between taking the $348 million prize, split over 30 annual installments, or a one-time cash payment of $157.5 million—the preferred choice for most winners.
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