Tax rates checked Saturday, September 12, 2026

Lottery tax and payout calculator

Enter a prize and your state to estimate what is withheld when you're paid and what you may owe in total. For jackpots, enter the cash value from the official game site to compare the lump sum with the annuity.

How this estimate works

• Federal withholding: 24% of the whole prize when it exceeds $5,000, taken when you're paid.
• Federal tax owed: 2026 brackets up to 37%, assuming the prize is your only income and you take the standard deduction. Large prizes usually owe more than was withheld.
• State tax: the state's flat rate, or its top rate for graduated taxes (large prizes fall almost entirely in the top bracket). Local taxes such as New York City's are listed but not added.
• Annuity (jackpots only): shown when you enter a cash value. Powerball and Mega Millions pay one payment now and 29 yearly payments, each 5% larger than the last. Each payment is taxed on its own with today's brackets, the standard deduction and no other income.

For Indiana, Kentucky, Oklahoma, South Carolina, no official source states the lottery's state withholding rate, so withholding there is an estimate.

Estimates only, not tax advice.