The Powerball jackpot has grown to $643 million, the largest grand prize in more than a year.

The $643 million prize is for a sole winner who makes the rare decision to be paid over 30 years through an annuity. Nearly all winners instead take the cash option, which for Wednesday night's drawing would be $290.6 million.

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The prize is subject to taxes, which includes an automatic withholding tax of 24% levied against the winnings, and another 13% in federal taxes when you file your 2025 return.

There are also state taxes in some jurisdictions, which range from 2.9% to 10.9% depending on the state you live in. But if you're lucky enough to live in California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Wa

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