The Powerball jackpot has climbed to $850 million after there were no big grand prize winners in Monday's drawing. The jackpot is the sixth-largest prize ever.

The $850 million jackpot is for an annuity option, paid over 30 years. Winners almost always opt for the lump-sum cash prize, which for Powerball would be $383.7 million cash.

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, Washington or Wyoming, you won't pay taxes on your winning

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