Lottery Payout Calculator

Estimate a lottery jackpot after federal and state tax, as a lump sum or as the 30-year annuity.

Advertised jackpot (annuity)	$500,000,000
Cash value	46 % of jackpot
Filing status	Single
State tax rate on lottery winnings	0 %

Advertised jackpot (annuity)

Cash value

% of jackpot

Check the game's announced cash option; often 45–50%

Filing status

State tax rate on lottery winnings

0 in states with no income tax or that exempt lottery winnings

Lump sum after tax

$144,950,000

Cash option $230,000,000; 24% ($55,200,000) is withheld up front, but the 37% top bracket means about $85,050,000 in federal tax at 2026 rates. The 30-payment annuity totals about $316,499,992 after tax (first payment $7,525,718, rising 5% a year), assuming today's tax rates.

After-tax totals

Lump sum (now)$144,950,000
Annuity (30 years)$316,499,992

About the Lottery Payout Calculator

Advertised jackpots are the total of a 30-year annuity; the cash option is smaller, typically 45–50%. US lotteries withhold 24% federal tax on big prizes, but a jackpot puts you in the 37% bracket, so more is due at tax time. States tax winnings at their own rates (some, like California and Florida, don't tax lottery winnings). Powerball and Mega Millions annuities pay 30 instalments that rise 5% a year.

The formula

Net = prize − federal tax (2026 brackets) − state tax

Worked example

Example: Lump sum after tax = $176,765,000

Inputs: Advertised jackpot (annuity): $550,000,000; Cash value: 51 % of jackpot; Filing status: Single; State tax rate on lottery winnings: 0%.
Formula: Net = prize − federal tax (2026 brackets) − state tax
Result: Lump sum after tax = $176,765,000

Questions people ask

Lump sum or annuity?

The lump sum is worth more if invested well; the annuity protects against overspending and is taxed year by year.

Can I stay anonymous?

Only in some states.

Sources

The rules and rates this calculator uses come from the official pages below. Its results are estimates, not an official determination, and rules change, so check the latest figures there before you act on them.

IRS: Topic 419, Gambling income and losses