The Powerball jackpot is now estimated at $313 million for the Monday drawing as nobody managed to match all six numbers in Saturday’s lottery draw. In case of a win, the player will have the option of taking the offered annuity of $313 million over a period of 30 years or opting for the lump-sum payment of $133.6 million. Nevertheless, none of the figures will reflect what the winner will eventually receive. As any other lottery, Powerball winnings will be taxable, which means that one will have to pay federal tax on top of state and even local taxes, if applicable.
