By shavu bhardwaj
The Powerball jackpot soared to an estimated $900 million without a winner from Saturday's drawing.
While it's still the third-largest prize in the game's history, the winner can expect a significant tax bill.
There's a 24% mandatory federal tax withholding, but you'll likely still owe millions more.
The Powerball jackpot has soared to an estimated $900 million after Saturday's drawing went by without a winner.
It's still the third-largest prize in the game's history ahead of Monday night's drawing, according to Powerball. But the windfall will shrink significantly after taxes.
If you choose the lump sum payout, the estimated pretax cash value is $465.1 million, whereas 30 years of annual payments are worth an estimated $900 million before taxes.