Actual Winnings — Free Lottery Tax Calculator
Calculate your real take-home from Powerball, Mega Millions & other lottery jackpots after federal and state taxes.
How Lottery Taxes Work in 2026
Lottery winnings are taxed as ordinary income in the United States. The IRS requires a mandatory 24% federal withholding on prizes over $5,000, but most jackpot winners owe significantly more—up to the 37% top marginal rate. In addition, most states levy their own income tax on lottery winnings, ranging from 0% in states like Florida, Texas, and California to over 10% in New York and New Jersey.
2026 Federal Tax Brackets for Lottery Winnings
| Rate | Single Filers |
|---|
| 10% | $0 – $11,925 |
| 12% | $11,926 – $48,475 |
| 22% | $48,476 – $103,350 |
| 24% | $103,351 – $197,300 |
| 32% | $197,301 – $250,525 |
| 35% | $250,526 – $626,350 |
| 37% | Over $626,350 |
Lump Sum vs. Annuity
Lottery winners can choose between a lump sum (about 50–60% of the advertised jackpot received immediately) or an annuity (the full jackpot paid over 30 annual installments with a 5% yearly increase). The lump sum offers immediate access but is taxed entirely in one year at the highest bracket. The annuity spreads the tax burden over 30 years, often resulting in more total take-home pay.
States With No Lottery Tax
Nine states have no income tax: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming. Additionally, California does not tax state lottery winnings despite having a state income tax.
About Our Calculator
Actual Winnings uses the latest 2026 federal tax brackets and state-specific lottery tax rates to calculate your real take-home amount. We support Powerball, Mega Millions, California SuperLotto Plus, New York Lotto, and Florida Lotto. All calculations run in your browser—no sign-up required.
Note: Please enable JavaScript for the full interactive calculator experience with real-time jackpot data and personalized tax breakdowns.
Disclaimer: This calculator is for educational and entertainment purposes only. Consult a qualified tax professional for advice specific to your situation.