How much would you get? - WAFF-TV: News, Weather and Sports for Huntsville, AL

How much would you get?

(Source: Raycom Media) (Source: Raycom Media)
(WAFF) -

Assuming you hit the near-billion-dollar Powerball and are the sole recipient, you may wonder, when it's all said and done: how much will you actually get?

According to USA Mega, if you were to elect the lump-sum option, you would receive $558,000,000.

Take out federal taxes, and you say goodbye to a further $139,500,000.

Assuming the winner is from Alabama, which does not have a lottery system at all - or Tennessee, which does not collect taxes on lotto prizes, you're left with a net total of $418,000,000.

Most states participating in Powerball do, however, collect further taxes - such as Georgia. Their 6 percent cut would leave you with $385,020,000.

A 30-year-annuity, it should be noted, would leave you with the most money overall, with annual payments averaging $22 million per year.

Copyright 2016 WAFF. All rights reserved.

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