Powerball jackpot hits $900 million. Here's the tax bill if you win

After Saturday's drawing ended without a winner, the Powerball prize has increased to an estimated $900 million.

Prior to Monday night's drawing, it is still the third-largest reward in the game's history, according to Powerball.

However, after taxes, the windfall will drastically decrease.

The anticipated pretax cash value of a lump sum payout is $465.1 million, whereas the estimated pretax cash value of 30 years of yearly payments is $900 million.

If you win the jackpot, experts suggest working with a tax professional, financial advisor and estate planning attorney immediately.

the winner has a chance to get the $875 million prize paid out in yearly increments or choose to get the one-time lump sum of $441.9 million before taxes.