UNITED STATES LOTTERY TOOL
Powerball tax calculator
Estimate cash value and withholding before comparing the annuity and cash choices.
ESTIMATE, NOT TAX ADVICE
Powerball cash option and tax estimator
Compare an advertised annuity jackpot with an estimated cash option, federal withholding and a state rate you enter yourself.
Estimated amount after entered withholding$182,400,000
Estimated cash option$240,000,000
Federal withholding-$57,600,000
State/local withholding-$0
Important: the 24% field is the regular federal withholding rate for qualifying U.S. lottery winnings, not necessarily the winner's final tax liability. Nonresident aliens are generally subject to 30% withholding unless a treaty changes the result. State and local rules vary. Confirm with the lottery, IRS and a qualified tax professional.