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Choose your filing status and your state and find out the payment schedule and amounts for the current advertised powerball jackpot. Instead of taking out the entire prize at once and paying higher taxes, you can opt to receive your prize in annual instalments The prize is usually paid out in full in 30 years The annuity value is paid through government bonds that are purchased with the jackpot’s cash value. But then comes the taxes. At its current estimated size, the powerball jackpot ranks as the fourth largest in the game’s history, behind a 2016 prize worth $1.59 billion split by three tickets. Powerball winners have 60 days to opt to receive their winnings in 30 annual payments over 29 years or to take a reduced cash lump sum Check out a payout analysis of the current powerball jackpot below You'll find out the advertised annuity and lump sum amounts, along with their ultimate worth after taking into account federal and state tax. You can calculate your lottery lump sum take home money, annuity payout and total tax amount that you need to pay after winning from megamillions, powerball, lotto, etc by using our online lottery payout calculator. Use the powerball calculator to see how much money you would receive after winning a powerball jackpot. While the lump sum provides a full prize up front, the annuity offers one immediate payment, followed by 29 annual payouts that increase 5% each year, according to powerball.