Experts weigh in on what you should do if you win the $1-billion Powerball jackpot

GREENVILLE, N.C. (WITN) – You still have a few hours left to buy a lottery ticket for a chance at tonight’s $1 billion Powerball jackpot.

While many of us dream of a winning ticket, experts warn it’s not quite that simple.

One after another, folks rolled up to the Marks Food Mart off highway 264 in Greenville for a chance to win the jackpot.

Greenville resident, Ian Cox, says he hopes to go anywhere and everywhere if he gets lucky.

“The sky’s the limit I guess,” Cox said. “I’m going to get all my family and all friends, anybody I deal with, and take them wherever they want to go.”

But what should you do if you win? As Benjamin Franklin said the only certain things in life are death and taxes.

That’s something certified public accountant, Joe Cook hopes the winner is mindful of.

“If you win the lottery, my number one recommendation would be to do some sort of withholding from taxes to pay your state and federal taxes,” Cook said. “The last thing you want to do is come April 15 and file your taxes and spend all of your winnings and all of a sudden you get hit with a large tax bill.”

This is the fifth-largest lottery jackpot in U.S. history. The biggest was $1.586 billion won by three ticketholders in 2016.

You can watch tonight’s drawing right here on WITN at 11.

Do you see something needing a correction? Email us!

Facebook