LAS VEGAS (KLAS) -- The Powerball jackpot jumped to $815 million for Wednesday's drawing, but that money comes with a big tax bill should one be lucky enough to win.

While daydreaming about all the ways one could spend the money, you're not the only winner. The federal and state governments will take a big slice, around 37 percent, of the prize money for taxes, leaving the winner with an estimated cash value of $367.9 million. Some states, like California, don't withhold state taxes on the winnings, but most states do. Neighboring Arizona withholds 4.8 percent.

The jackpot is now the seventh largest ever for Powerball, and it's creating some jackpot fever. Although Las Vegas doesn't participate in a lottery, valley residents often purchase them across the borders of California and Arizon

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