Current jackpots
Checking a jackpot rather than a prize you already won? These calculators start from the current advertised jackpot and its official cash value.
- Powerball tax calculator$485 MillionCash value $199.8 Million · about $125,924,000 after federal tax with no state tax
- Mega Millions tax calculator$345 MillionCash value $139.6 Million · about $87,998,000 after federal tax with no state tax
How lottery winnings are taxed
Lottery prizes are taxable income. When you claim more than $5,000, the lottery withholds 24% for federal tax, but that is a prepayment: a large prize is taxed mostly at the 2026 top rate of 37%, so most big winners owe more when they file. State tax depends on where you live: Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming do not tax lottery prizes, and California exempts prizes from the California Lottery, including Powerball and Mega Millions. Compare every state in lottery tax by state, and read taxes on lottery winnings for the full rules.
State calculators start with your state already chosen and show the current jackpots after its tax: California, Florida, Georgia, Illinois, Michigan, New York, Ohio, Oregon, Texas and Virginia.
To include a year's losing wagers as well as winnings, use the gambling winnings tax calculator. It compares standard and itemized deductions under the 2026 limit on gambling losses.
Lump sum or annuity?
Powerball and Mega Millions jackpot winners choose between the cash value, paid at once, and 30 payments over 29 years. Pick a game above to see both after tax, or use the lottery annuity calculator to see every payment. The largest lottery jackpots list shows what each billion-dollar winner would keep, and the Millionaire for Life calculator covers prizes paid every year for life.
What the calculator includes
Use it as a lottery take-home calculator: enter the prize, your state and your filing status to see what you would keep. It covers:
- Federal income tax with 2026 brackets and the standard deduction for your filing status
- State income tax for all 50 states and Washington, D.C., plus New York City and Yonkers, and an average county tax for Maryland
- What is withheld when you claim — 24% federal, and the state rate where the state publishes it
- Jackpots shared by several winning tickets, and your share of an office pool
It does not include other county or city income taxes, such as those in Indiana, Ohio, Detroit or the Portland area of Oregon. The methodology explains every formula and source, and shows the official payouts we check our numbers against.
Common questions
How much tax do you pay on a $1 million lottery prize?
For a single filer with no other income in 2026, federal income tax on a $1,000,000 prize comes to about $320,000, leaving about $680,000 before state tax. Only $240,000 (24%) is withheld when you claim, so expect to pay the rest when you file. Other amounts, from $10,000 to a $2 billion jackpot, are in lottery winnings after taxes by amount.
How is an office pool prize taxed?
Each member pays tax on their own share. If four coworkers split a $1,000,000 prize equally, each share is $250,000; a single filer with no other income would owe about $51,304 in federal tax on it and keep about $198,696 before state tax. Enter your percentage under “More options”, or use the lottery pool calculator and agreement template to record ownership and split a prize.
Does the calculator work for scratch-offs and smaller prizes?
Yes. Enter any amount. Nothing is withheld for federal tax on a prize of $5,000 or less after subtracting the ticket price, but the prize is still taxable income, and the calculator shows the tax you would owe when you file.
What if I bought the ticket in another state?
The state where you bought the ticket may withhold its own tax, and your home state may also tax the prize, often with a credit for tax paid to the other state. This calculator assumes you bought the ticket in the state where you live.