How much money will you actually get when you win the $900M Powerball?

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Plan accordingly for spending your $900 million.
Plan accordingly for spending your $900 million.

MANCHESTER, NH — It was brisk business at lottery ticket counters around New Hampshire on Saturday as Powerball dreamers lined up for the golden ticket.

Screenshot 2016-01-09 at 6.27.55 PMThe jackpot, which is being touted as the largest in U.S. lottery history, is now up to $900 million. If you are the winner, you can take the one-time cash payout of our $558 million, according to a NH Lottery spokesman.

CLICK HERE FOR THE WINNING NUMBERS

But there’s another way to get paid.

Based on the assumption that a New Hampshire winner will emerge, you should know that the Powerball annuity jackpot is also awarded according to an increasing rate schedule, that from usamega.com. That means the annual payment you get increases every year. There’s a handy table below which shows what the payout schedule for a jackpot of $900,000,000 would be for a resident of New Hampshire, including taxes withheld. [You can check other states’ pay out schedules here.]

Your NH Powerball winnings annuity schedule, if you're the big winner.
Your NH Powerball winnings annuity schedule (if you’re the big winner).

Fine print from usamega.com:  The amounts shown above are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

If you failed to get your hands on the winning ticket this time around, it’s too late for the Jan. 9 drawing. Winners will be pulled at 10:59 p.m. Saturday

However, if nobody wins, you’re back in action: Your next chance at the pot — which will increase to an estimated $1.3 billion — is right around the corner, on Jan. 13.


 

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About this Author

carol-robidoux

Carol Robidoux

PublisherManchester Ink Link

Longtime NH journalist and publisher of ManchesterInkLink.com. Loves R&B, German beer, and the Queen City!