How Much Would the Powerball Win Be Worth in North Carolina?
As we all know, the Powerball number has reached a crazy amount of money as people are hoping and praying for a winning ticket. The Powerball is at a new high and people are wondering how much would they really have if they hit the big winnings. In North Carolina, things can be a bit different for sure, so sit back and learn a little.
Queen City News reports what your Powerball earnings could be worth if you win in North Carolina. Whenever you win the lottery jackpot, you have your choice between a lump-sum payment or an annuity paid out nearly three decades. I know, that sounds a bit confusing for some. Most tend to want the lump-sum payment, which with $1.9 billion I can understand why they would want that lump-sum. For winners who choose the lump-sum, you could walk away with $929.1 million before taxes, says QC News. The annuity would pay out the full $1.9 billion over 29 years.
When it comes to an annuity, the breakdown can be something to understand. This will allow you to collect your winnings in 30 payments over the 29 years, but not even 30 chunks. Each payment would be 5% larger than the last until you get to your grand total. I am not sure which version I would want, but this has certainly helped me think about it. What would you do if you won the Powerball jackpot?