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Here's your tax bill if you hit the $348 million Powerball or $267 million Mega Millions jackpots

Source: cnbc.com - Mar 1, 2019

If you have dreams of hitting the jackpot in the next Powerball or Mega Millions drawing, remember that a big slice of what the lottery giveth, the taxman taketh away.

With no one nabbing the top prize in the last drawings for either game and the odds of doing so stacked against players, the jackpots have continued climbing: $267 million for Mega Millions' drawing on Friday night and $348 million for Powerball's Saturday-night drawing. (The winning numbers for Wednesday night's drawing were: 21, 31, 42, 49, 59; Powerball: 23.)

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Category: General Business