Another historic event occurred in the Powerball lottery held in the United States. This was reported by Zamin.uz.
Two citizens living in the states of Missouri and Texas won the large jackpot in this lottery and became billionaires. Their total prize amount reached 1.8 billion dollars.
This figure was recorded as one of the largest lottery winnings in American history. The winners have the option to choose one of two variants to receive their share.
The first option is to receive an annuity payment of 893.5 million dollars annually over 30 years. The second option is to receive a one-time cash payment of 410.3 million dollars.
Taxes are automatically withheld from the one-time payment, while taxes on annuity payments are paid annually. According to financial experts, most winners prefer to take the cash payment at once rather than the multi-year payments.
This allows them to quickly invest the winnings or spend on personal needs. Therefore, the cash payment is considered more convenient for many winners.
