Photo: MIKE NELSON / File / EFE
A single ticket sold in Vermont won a grand prize powerball lotteryl valued at $366.7 million, after matching all six numbers in Wednesday night’s drawing.
The jackpot has a cash option of $208.5 million. This was the first time a Powerball jackpot had been won in Vermont, the multi-state lottery said in a statement.
The winning numbers in the drawing on Wednesday, June 29, were white balls 8, 40, 49, 58 and 63. The Powerball number was 14.
The lucky ticket holder will be able to choose between an estimated annuity of $366.7 million, paid in 30 graduated payments over 29 years, or a single payment of $208.5 million. Both award options are pre-tax.
Whether the award is taken as an annuity of 30 payments over 29 years or as an immediate, reduced cash lump sum, taxes end up taking a big chunk of the windfall.
The winner of this Powerball lottery jackpot has one year to claim the prize and can remain anonymous by claiming the money through a trust.
It is recommended that lottery jackpot winners assemble a team of professionals to help navigate the claim process, including an attorney, financial advisor, and tax advisor.
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