Most winners opt for money prizes, which for Mega Millions would be $716.3 million and $546.8 million for Wednesday’s Powerball.
In November 2020, a Floridian from Jensen Beach won a $16.five million Florida Lottery jackpot - shortly after losing their job due to the knock-on effects of the pandemic.
Federal revenue taxes will be withheld from POWERBALL prizes as necessary by the Internal Income Code at the time payments are created.
It really is highly unlikely that a Powerball jackpot will ever get significantly greater than that.