If the winner goes with the cash option of $477 million, the IRS will get more than $100 million right off the bat.
div > div.group > p:first-child"> A single ticket sold in Wisconsin matched all six numbers in Wednesday night's Powerball drawing to land the $768.4 million top prize. For whoever is holding that valuable slip of paper, life is about to get a bit crazy.
The jackpot, originally estimated at $750 million, climbed higher due to strong ticket sales. The chance of winning is 1 in about 292 million. The cash option for this jackpot — which most winners go with — is $477 million. The 24 percent withholding will reduce that amount by $114.5 million.
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