Topline<\/p>\n
Two winning Powerball tickets were sold in Missouri and Texas on Saturday, meaning two lucky players will split $1.78 billion in winnings\u2014the second-largest jackpot in the lottery\u2019s history.<\/p>\n
The winners will choose between $895 million in annualized payments or a lump sum of $410 million\u2014but will take home less after taxes.<\/p>\n
Getty ImagesKey Facts<\/p>\n
The two winners will split the jackpot of $1.78 billion, the lottery organizers said, meaning they will choose between $893.5 million paid out across 30 annualized payments or a lump sum of $410.3 million.<\/p>\n
If the winners pick the lump sum, usually the more popular option, they will face a 24% federal withholding bringing their winnings down to about $311.8 million.<\/p>\n
They would then likely face the highest marginal tax rate of 37%, further reducing the winnings down to roughly $258.4 million.<\/p>\n
If winners choose the annuity, they will receive 30 annual payments of an average $29.7 million, but federal taxes would further reduce the average payment to $18.7 million.<\/p>\n
The winner in Missouri will also have to pay a state tax of 4% on their winnings, but the winner in Texas will enjoy no additional state taxes on their jackpot.<\/p>\n
Big Number<\/p>\n
9.9 million. That\u2019s how many players won prizes during last night\u2019s Powerball drawing, lottery organizers said, including 18 players across the country who matched the numbers on all five white balls (11, 23, 44, 61, 62) for a $1 million prize. Two players increased their winnings to $2 million by purchasing the Power Play option on their tickets for $1 more.<\/p>\n
Surprising Fact<\/p>\n
The winning ticket in Texas was sold at a Big\u2019s convenience store on U.S. Highway 290 in Fredericksburg, the Texas Lottery<\/a> said after publishing their own results. More winning Powerball tickets were also sold in Austin, Tyler, and Midlothian, the lottery announced. In a news release<\/a> on Sunday, the Missouri Lottery said the selling location of the winning ticket in the Show-Me State would be announced in the next 72 hours.<\/p>\n Key Background<\/p>\n