Lottery / Powerball & Mega Millions Tax Calculator
Enter a jackpot and pick your state to see estimated federal and state tax withheld, and your actual take-home winnings for the annuity and cash (lump sum) options.
Enter Jackpot Details
Results
Enter a jackpot above
How the Estimate Is Calculated
federal withholding = gross × 24%
additional federal tax = gross × (37% − 24%)
state tax = gross × state rate
net payout = gross − (federal withholding + additional federal tax + state tax)
"Gross" is the full advertised jackpot for the annuity option, or jackpot × cash value % for the lump sum option. The IRS automatically withholds 24% of any gambling winnings over $5,000, but a jackpot pushes the rest of your taxable income into the top 37% federal bracket — so the remaining 13% is typically owed when you file. State rates are published withholding rates and are estimates only; always confirm with your state lottery or a tax professional before relying on these figures for an actual win.
Frequently Asked Questions
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