{"id":17521,"date":"2025-09-07T08:28:45","date_gmt":"2025-09-07T08:28:45","guid":{"rendered":"https:\/\/imsfund.com\/?p=17521"},"modified":"2025-09-07T08:28:45","modified_gmt":"2025-09-07T08:28:45","slug":"powerball-jackpot-which-states-dont-tax-the-lottery","status":"publish","type":"post","link":"https:\/\/imsfund.com\/index.php\/2025\/09\/07\/powerball-jackpot-which-states-dont-tax-the-lottery\/","title":{"rendered":"Powerball Jackpot: Which States Don&#8217;t Tax the Lottery?"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>This weekend&#8217;s Powerball drawing is one for the record books \u2014 the <a href=\"http:\/\/www.powerball.com\/saturdays-powerball-jackpot-raised-to-1.80-billion\">$1.8 billion jackpot<\/a> is now the game&#8217;s second-highest prize of all time. (The world record is the $2.04 billion Powerball jackpot, which was won in California on Nov. 7, 2022.)<\/p>\n<p>The winning ticket has an <a href=\"https:\/\/www.powerball.com\/\">estimated cash value<\/a> of $826.4 million.<\/p>\n<p>&#8220;Excitement is building as players look forward to tomorrow night&#8217;s drawing for this historic jackpot,&#8221; said Matt Strawn, Powerball Product Group Chair and Iowa Lottery CEO, in a statement. &#8220;We encourage everyone to play responsibly and take pride in knowing that every $2 ticket also helps support good causes in their community.&#8221;<\/p>\n<p><b>Related: <\/b><a href=\"https:\/\/www.entrepreneur.com\/business-news\/thousands-of-lottery-players-mistakenly-told-they-won\/494036\" rel=\"\" target=\"_self\">Thousands of Lottery Players Were Mistakenly Told They Won Millions<\/a><\/p>\n<p>Saturday&#8217;s Powerball drawing will be live-streamed on <a href=\"https:\/\/www.powerball.com\/watch-drawing\">Powerball.com<\/a>, broadcast live at 10:59 p.m. ET from the Florida Lottery draw studio in Tallahassee. Powerball tickets cost $2 and are sold in 45 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.<\/p>\n<h2>How Much Money Will the Winner Receive?<\/h2>\n<p>A 24% federal tax is imposed immediately. Then, since the winner has skyrocketed themselves (if they weren&#8217;t there already) into the highest tax bracket (37%), the leftover tax will be paid when filing 2025 taxes.<\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/2025\/09\/05\/powerball-jackpot-close-to-2-billion-what-winners-keep-in-each-state.html\">CNBC<\/a> notes that many states then add on a 2.5% to 10.9% income tax, though eight states (California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming) don&#8217;t tax lottery winnings. In all of the above states, the winner would take home the most money available, with a lump sum of $520,674,980 or an annuity of $1,135,289,400, according to <a href=\"https:\/\/www.usamega.com\/powerball\/jackpot\" target=\"_blank\">USAMega.com<\/a> and CNBC.<\/p>\n<p>On the opposite end, the states where the winner will receive the least after taxes are:<\/p>\n<ul>\n<li>New York (lump sum: $430,597,380; annuity: $939,089,400)<\/li>\n<li>New Jersey and Washington, D.C. (lump sum: $431,836,980; annuity: $941,789,400)<\/li>\n<li>Oregon (lump sum: $438,861,380; annuity: $957,089,400)<\/li>\n<li>Minnesota (lump sum: $439,274,580; annuity: $957,989,400)<\/li>\n<li>Maryland (lump sum: $442,166,980; annuity: $964,289,400)<\/li>\n<li>Massachusetts (lump sum: $446,298,980; annuity: $973,289,400)<\/li>\n<li>Vermont (lump sum: $448,364,980; annuity: $977,789,400)<\/li>\n<\/ul>\n<p><b>Related:<\/b> <a href=\"https:\/\/www.entrepreneur.com\/business-news\/how-a-powerball-winner-has-managed-his-money-since-1999\/475039\" rel=\"\" target=\"_self\">I Won $28 Million in the Lottery When I Was 21. It Changed Everything.<\/a><\/p>\n<\/div>\n<div>\n<div class=\"first-letter:float-left first-letter:text-8xl first-letter:pr-1 first-letter:-mt-1 first-letter:font-black first-letter:text-gray-500 prose prose-blue max-w-3xl text-lg leading-relaxed mb-12\">\n<p>This weekend&#8217;s Powerball drawing is one for the record books \u2014 the <a href=\"http:\/\/www.powerball.com\/saturdays-powerball-jackpot-raised-to-1.80-billion\">$1.8 billion jackpot<\/a> is now the game&#8217;s second-highest prize of all time. (The world record is the $2.04 billion Powerball jackpot, which was won in California on Nov. 7, 2022.)<\/p>\n<p>The winning ticket has an <a href=\"https:\/\/www.powerball.com\/\">estimated cash value<\/a> of $826.4 million.<\/p>\n<p>&#8220;Excitement is building as players look forward to tomorrow night&#8217;s drawing for this historic jackpot,&#8221; said Matt Strawn, Powerball Product Group Chair and Iowa Lottery CEO, in a statement. &#8220;We encourage everyone to play responsibly and take pride in knowing that every $2 ticket also helps support good causes in their community.&#8221;<\/p>\n<\/div>\n<div class=\"justify-center bg-gray-100 flex flex-col sm:flex-row rounded-lg p-6 align-middle sm:text-left text-center\">\n<div class=\"flex flex-col justify-center align-middle mr-0 sm:mr-16\">\n<p class=\"text-sm leading-5 my-0\">\n      The rest of this article is locked.\n    <\/p>\n<p class=\"text-xl text-black font-bold leading-5 my-1\">\n      Join Entrepreneur<span class=\"text-yellow-500\">+<\/span> today for access.\n    <\/p>\n<\/p><\/div>\n<\/div><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.entrepreneur.com\/business-news\/powerball-jackpot-which-states-dont-tax-the-lottery\/496786\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This weekend&#8217;s Powerball drawing is one for the record books \u2014 the $1.8 billion jackpot is now the game&#8217;s second-highest prize of all time. (The world record is the $2.04 billion Powerball jackpot, which was won in California on Nov. 7, 2022.) The winning ticket has an estimated cash value of $826.4 million. &#8220;Excitement is [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":17522,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/assets.entrepreneur.com\/content\/3x2\/2000\/1757101246-powerball-2233714352.jpg?format=pjeg&auto=webp","fifu_image_alt":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-17521","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/17521","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/comments?post=17521"}],"version-history":[{"count":1,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/17521\/revisions"}],"predecessor-version":[{"id":17523,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/17521\/revisions\/17523"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media\/17522"}],"wp:attachment":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media?parent=17521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/categories?post=17521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/tags?post=17521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}