Calculate Your Real Winnings After Taxes
Get accurate after-tax calculations for both lump sum and annuity options. Updated with 2025 federal and state tax rates.
Calculate NowUses 2025 federal tax brackets and all 50 state tax rates with professional-grade accuracy.
Compare both payout options with detailed breakdowns to make informed decisions.
Supports Single, Married Joint, Married Separate, and Head of Household tax calculations.
Detailed year-by-year annuity payout schedule with 5% annual growth included.
Calculate breakeven investment return rate to help choose between options.
Get immediate calculations with professional-grade comparison tables.
Enter your jackpot details to calculate exact after-tax winnings
Our Powerball tax calculator is a comprehensive tool that helps you understand exactly how much money you'll receive after winning the Powerball lottery. Unlike simple calculators that only show basic federal withholding, our tool provides:
See federal withholding (24%), additional federal taxes (up to 37% total), and state taxes for all 50 states plus DC.
Compare the one-time cash payment against 30 years of growing annuity payments to make the best financial decision.
Uses actual 2025 tax brackets, progressive tax calculations, and accurate state tax rates based on professional tax analysis.
Input the advertised jackpot amount, lump sum percentage (usually 40-55% of advertised), and the state where you bought your ticket.
Choose your tax filing status (Single, Married Joint, Married Separate, or Head of Household) for accurate federal tax calculations.
See side-by-side comparison of lump sum vs annuity, including federal withholding, additional taxes owed, state taxes, and your final take-home amount.
For annuity option, see the complete 30-year payout schedule with year-by-year breakdown including taxes and cumulative totals.
Many online calculators only show the 24% federal withholding, misleading winners about their actual tax burden. Our calculator reveals the full tax picture:
Our calculator uses 2025 federal tax brackets and professionally researched state tax rates. However, lottery taxation is extremely complex, and actual amounts may vary based on individual circumstances. For large winnings, always consult professional tax attorneys.
The IRS only withholds 24% initially, but lottery winnings are taxed as ordinary income at rates up to 37%. For large jackpots, you'll likely owe additional federal tax when you file your return, potentially up to 13% more.
It depends on your investment skills, risk tolerance, and financial discipline. Our calculator shows the breakeven investment return rate. If you can consistently earn higher returns than this rate, lump sum may be better. If not, annuity provides guaranteed growth and protection against overspending.
You pay taxes in the state where you bought the winning ticket, not where you live. Some states don't tax lottery winnings, while others have rates up to 13%. If you live in a different state, you may need to file returns in both states.
We use commonly referenced state tax rates, but many states have complex progressive tax systems. For example, Arkansas withholds 3.9% but may tax at higher rates. For large jackpots, state tax calculations require professional analysis.
Our calculator doesn't include local taxes (like NYC's additional 3.876% for residents). Some cities and counties have additional taxes on lottery winnings. Check with local tax authorities or professionals for complete tax obligations.