Free Lottery Tax Calculator
Calculate your Powerball or Mega Millions take-home after federal & state taxes
Lottery Tax Calculator
Calculate your take-home winnings instantly
Why Use JackpotCalc?
Accurate Calculations
Up-to-date federal and state tax rates for all 50 states
Lump Sum vs Annuity
Compare both payout options side by side
Real Take-Home
See exactly how much you'll actually receive
100% Free
No hidden fees or signup required
Understanding Lottery Taxes
Federal Lottery Tax
The IRS requires a 24% withholding on lottery winnings over $5,000. However, depending on your total income, you may owe up to 37% in federal taxes.
State Lottery Tax
State tax rates vary from 0% to 8.95%. Some states like California, Florida, and Texas don't tax lottery winnings at all!
Lump Sum vs Annuity
The lump sum option is typically about 60% of the advertised jackpot. The annuity pays the full amount over 30 years but you may pay more in taxes overall.