The Powerball jackpot continues to rise, surging to $1.8 billion ahead of Saturday's drawing.

The $1.8 billion jackpot is for an annuity option, paid over 30 years, with an initial payout and then 29 annual payments that increase by 5% each year. Winners almost always opt for the lump-sum cash prize, which for Powerball would be $826.4 million cash.

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

There are also state taxes in most 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, T

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