Powerball $1.8B Jackpot | Why lump sum winners only take home $520M after taxes

SAN DIEGO — The Powerball jackpot has reached $1.8 billion for Saturday night’s drawing, but winners choosing the lump sum option will take home far less than the advertised amount — about 30% after taxes, a CBS 8 analysis shows.

San Diegans lined up at retailers across the county to purchase tickets for what lottery officials say is the second-largest Powerball jackpot in history.

Eric Williams bought $100 worth of tickets — 50 chances at the massive prize…

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