Powerball Jackpot Hits $565 Million, Taxes Loom
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The Powerball jackpot soared to $565 million, the year's largest, after Wednesday's drawing yielded no winner. The lucky winner, if any, will receive either a $565 million annuity or a $258.8 million lump sum. However, after federal and potential state taxes, the actual payout could be significantly lower—potentially around $163 million for the lump sum. The next drawing is Saturday.
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