LANSING, Mich. (WLNS) — The Powerball jackpot has reached a staggering $950 million, and the golden ticket is still out there following Wednesday's drawing.

With the lucky winner still undecided, players may be thinking: how much money will the winner take home after taxes and other deductions?

USAMEGA reports that after taxes are accounted for, if a Michigander buys the winning ticket and chooses the annuity option, they'll receive $18,647,146 per year, totaling $559,414,380 after 30 payments.

If the cash option is chosen, the winner will receive a total of $252,021,730.

The Powerball jackpot was last won in Michigan on January 1, 2024, by a Mid-Michigan lottery club. The club won $842.4 million, the largest jackpot in state history. The winning ticket was purchased in Grand Blanc.

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