Every effort has been made to ensure that the winning numbers and other information posted on this website are accurate. The information contained in this website is provided for informational purposes only. More Prize Analysis for California(CA) PowerballĬALOTTERYX.COM is not associated with the official California State Lottery. Powerball Jackpot Analysis for Wednesday, November 8th.Powerball Jackpot Analysis for Saturday, November 11th.Powerball Jackpot Analysis for Monday, November 13th.Powerball Jackpot Analysis for Wednesday, November 15th.Powerball Jackpot Analysis for Saturday, November 18th.Powerball Jackpot Analysis for Monday, November 20th.Powerball Jackpot Analysis for Wednesday, November 22nd.Powerball Jackpot Analysis for Saturday, November 25th.Powerball Jackpot Analysis for Monday, November 27th.Powerball Jackpot Analysis for Wednesday, November 29th.Please see below for the detailed payment schedule.įor detailed information on Powerball Lottery Winning Taxes and Prizes Analysis, see the data listed below.Ĭalifornia(CA) Powerball Prize Analysis for Wed Nov 29, 2023Īnnuity - $374 Million in 30 Annual Payments The payments increase annually in a 30 year period. Please Note: Powerball annuity payments are NOT allocated evenly by years. The average net lump-sum payment after tax withholding is going to be $9,350,000.00 per year.

There is no state tax liability for lottery prizes. The average federal tax liability is $3,116,666.67 per year.

For the Annuity option in the amount of $374 million, the winner gets paid in 30 annual payments in the average amount of $12,466,666.67 per year.

After all the taxes are paid, the winner gets a net lump-sum payment of $130,125,000.00. There is no state tax for lottery prizes.

For the Cash Option in the amount of $173.5 million, the federal tax that must be withheld is $43,375,000.00.

For more information on taxes for lottery winnings in the state of California, click here.

Luckily, lottery prizes are exempt from California state and local personal income taxes. For prizes over $5,000.00, US citizens and resident aliens with a social security number are subject to a 25% deduction to their prizes, which represents federal taxes. The Powerball prize analysis tells you how much you would get after state, local and federal tax withholdings.Īs legally required by the state of California, taxes are withheld on lottery winnings of $600.00 or more. The estimated jackpot for Powerball on Wed is $374 million. Updated: Tuesday, November 28th, 2023 12:12 AM

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