**Powerball Jackpot Hits $512 Million: Fourth Lottery Prize of 2025 to Surpass $500 Million**

The Powerball jackpot has climbed to an impressive $512 million—marking the fourth lottery prize of 2025 to exceed the $500 million threshold. This increase follows Monday night’s drawing, where no tickets matched all six numbers.

The winning numbers drawn on Wednesday night were 6, 28, 44, 48, 58, with a Red Powerball of 23.

### Prize Options for the Next Winner

If a winner emerges in the upcoming draw, they will have two payout options:

– **Annuity Option:** $512 million paid in 30 annual installments
– **Lump Sum Option:** A cash prize of approximately $239.1 million

Most winners tend to prefer the lump sum option for its immediate payout.

### Tax Implications and Final Take-Home Amount

Choosing the lump sum means the initial $239.1 million will be reduced by a mandatory 24% federal withholding tax, dropping the amount to about $181.7 million.

However, the winner may face a federal marginal tax rate as high as 37%, depending on their taxable income. After this additional tax, the take-home amount could be reduced further to approximately $150.6 million.

If the winner opts for the annuity route, the $512 million will be paid out as roughly $17.1 million annually. Applying the 37% federal tax rate to these payments would reduce the take-home amount to about $10.7 million per year.

### State Taxes May Apply

Beyond federal taxes, state taxes could further impact the winnings. Some states, like New York, tax lottery winnings at rates up to 10.9%, while others—such as Texas, Florida, and California—do not impose state taxes on lottery prizes.

Winners should consult with a tax professional to fully understand their potential tax liabilities based on their residence.

Stay tuned for the next drawing and the chance to become the next Powerball millionaire.
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