Editor's note: This story has been updated to reflect the latest jackpot estimates. The annuity payout calculator below shows a breakdown of the gross annuity value for the current jackpot, and the applicable federal and state tax for each year. Winning Powerball, Mega Millions for July 5 and 7. The payouts are graduated so they increase 5 percent year-on-year. If you opt for the annuity payout you will receive the jackpot amount as a series of 30 annual payments over 29 years.
