KLOORALottery Payout Calculator
Estimate what you keep from a lottery jackpot: lump sum or annuity, after federal and state tax.
How to use Lottery Payout Calculator
- Enter your values in the fields.
- The results update instantly as you type.
- Note or copy the numbers you need.
Features
- Instant results
- Free, no signup
- Runs in your browser, nothing is uploaded
- Works on phone and desktop
How it works
Gross = the lump sum share or the full annuity. Tax = gross x federal rate + gross x state rate.
Worked example
A 500 million jackpot taken as a 48 percent lump sum is 240 million. After 37 percent federal and 5 percent state tax you keep about 139 million.
Good to know
These are planning estimates, not tax or legal advice. Rules and limits change, so confirm at irs.gov, uscis.gov, ssa.gov or with a professional.
Frequently asked questions
Lump sum or annuity?
The lump sum is the cash value, usually about half of the advertised jackpot. The annuity pays the full amount over 30 years.
How is it taxed?
Federal tax withholding is 24 percent, but large wins fall in the top 37 percent bracket, so more is owed at filing. State tax varies, and some states charge none.
Is the Lottery Payout Calculator free?
Yes. It is free, needs no signup and works on any device.