Lottery Tax Calculator — Powerball & Mega Millions After-Tax Payout

A jackpot headline and the check you actually deposit are two very different numbers. This Powerball and Mega Millions tool bridges that gap by layering in both federal and state income taxes, so you see a realistic take-home amount for prizes won in 2026 and later. Because the tax hit lands differently on each option, it's also the cleanest way to weigh a lump sum against an annuity.

The estimate moves through several stages. It starts by applying the 24% federal withholding to your gross winnings, then projects the rest of your federal liability against the 2026 top marginal bracket of 37%, which starts above $640,600 for single filers and above $768,700 for married couples filing jointly. The last step subtracts state income tax using the rates your chosen state has set for 2026, leaving an after-tax total for both the lump sum and the annuity. A handful of states, California among them, do not tax their own lottery prizes at all, and the calculator carries those as zero.

Treat the output as an estimate; your real bill shifts with your other income, your deductions, and the rest of your financial picture. State rules add another wrinkle, since many tax residents and non-residents differently, so confirm how your state handles a win. The figure people most often underestimate is the gap between the 24% already withheld and the 37% top bracket, which can pull far more from the prize than the initial withholding suggests.