State taxes could eat up another 10 percent of lump sum payments.Ĭan I integrate infographics into my blog or website? Federal taxes will reduce the winnings once more by a 24 percent hold on a lump sum but winners could owe as much as 37 percent of their income in federal taxes if they don't choose to donate or put their money into a foundation the year of their win. The lucky ticket holders might win a billion-dollar prize, but most choose to reduce the sum by several hundred million to receive a one-time payout instead on yearlong installments. In October 2018, the biggest single-ticket win of $1.5 billion went to South Carolina. lottery jackpot to-date is a 2016 Powerball worth $1.586 billion, which was split three ways between Tennessee, California and Florida. 2021 also saw to top jackpots paid out in January, one through Powerball and one through Mega Millions. history and the second-highest where a single ticket won. Saturday's drawing would already have been the biggest win ever at around $1.6 billion, but no winning ticket was sold.Įarlier this year, a single ticket purchased in Chicago suburb Des Plaines won a $1.337 billlion Mega Millions jackpot - the third-highest in U.S. After the delay of Monday's drawing, Powerball has announced winning numbers for the $2.04 billion jackpot, which would be the highest payout in lottery history if won.

The big jackpot website