Tax bill for Vermont winner of Powerball $366.7 million jackpot https://www.cnbc.com/id/107083161?view=story?__source=androidappshare
If you’re holding the winning ticket for Powerball’s $366.7 million jackpot, don’t forget about your silent partner: Uncle Sam.
After rolling higher for about two months of three weekly drawings with no winner, the lottery game’s top prize was nabbed in Wednesday night’s drawing. The ticket was purchased in Vermont, which marks the first time the jackpot has been won in that state.
Of course, the advertised amount isn’t what the winner will end up with. Whether the prize is taken as an annuity of 30 payments over 29 years or as an immediate, reduced cash lump sum, taxes end up taking a big bite out of the windfall.