WASHINGTON — The Powerball jackpot has hit $1 billion again ahead of Saturday night's drawing.

But if you somehow beat the lottery's astronomical odds , you'll have a hefty tax bill waiting for you.

That's because lottery winnings are treated as income by the federal government and most states, so the jackpots are subject to state and federal income taxes.

However, there are a handful of states that do not collect additional taxes on residents' lottery winnings.

If you were to win Saturday's $1 billion Powerball jackpot, how much would you actually get?

When a lottery winner comes forward, they must first decide whether they want to receive their winnings in a 30-year annuity , or receive their grand prize in a lump sum of cash. If they pick the annuity, they will eventually rece

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