Powerball payout calculator
A Powerball jackpot is paid either as the announced cash value or as an annuity of 30 payments rising 5% a year. Both are taxed as income: 24% federal is withheld when you claim, the rest is due at your 2026 bracket (37% at the top), plus state tax where it applies.
Checked 2026-11-07. Sources: Powerball FAQs; IRS 2026 tax tables (Rev. Proc. 2025-32).
21+ in most states. If gambling stops being fun, free confidential help is available 24/7: call or text 1-800-GAMBLER (National Council on Problem Gambling).
How the annuity works
first payment = jackpot × 0.05 ÷ (1.05³⁰ − 1), then each payment is 5% larger: payment k = first × 1.05^(k−1). The 30 payments add up to the advertised jackpot.
Example with a $100,000,000 jackpot: $1,505,143 in year 1, $2,334,971 in year 10, $3,803,422 in year 20, $6,195,374 in year 30.
Take-home by state (example: $100,000,000 jackpot, $45,000,000 cash)
| State | Lump sum after tax | Annuity after tax (30 years) |
|---|---|---|
| Arizona | $27,274,999 | $61,999,992 |
| California | $28,399,999 | $64,499,992 |
| Colorado | $26,419,999 | $60,099,992 |
| Florida | $28,399,999 | $64,499,992 |
| Georgia | $26,154,499 | $59,509,992 |
| Illinois | $26,172,499 | $59,549,992 |
| Massachusetts | $24,394,309 | $56,829,292 |
| Michigan | $26,487,499 | $60,249,992 |
| Oregon | $23,944,999 | $54,599,992 |
| Pennsylvania | $27,018,499 | $61,429,992 |
| Texas | $28,399,999 | $64,499,992 |
| Virginia | $25,812,757 | $58,757,717 |
| Wisconsin | $24,957,499 | $56,849,992 |
Example figures, not a current jackpot: enter the jackpot and cash value announced for your drawing. Single filer, no other income, 2026 federal brackets applied to every annuity year (future brackets will differ), state rules from each state's revenue department (Oregon and Wisconsin at their top rate). Local taxes not included.
Questions
How much is a Powerball ticket?
$2 per play. Power Play costs $1 more and multiplies non-jackpot prizes; Double Play, offered in some states, is another $1 for a second drawing with the same numbers. In Idaho and Montana Powerball comes bundled with Power Play at $3. Source: powerball.com, checked 2026-11-07.
How is the Powerball annuity paid?
One immediate payment followed by 29 annual payments, each 5% larger than the one before (Powerball FAQs). A $100,000,000 jackpot starts at $1,505,143 and ends at $6,195,374.
How much tax is taken from a Powerball jackpot?
The lottery withholds 24% federal tax when you claim, plus state withholding in some states. The final federal bill is set by the 2026 brackets, mostly at 37% for a jackpot. In Texas, $45,000,000 cash leaves $28,399,999 after federal tax for a single filer.
Lump sum or annuity?
The annuity pays more in total before tax and spreads the income over 30 years; the lump sum is smaller but paid now and can be invested. The calculator shows both after tax.
What is the cash value?
The amount in the jackpot prize pool on the drawing day, announced with each jackpot. It has no fixed ratio to the advertised jackpot, because it depends on interest rates. Enter the figure announced for your drawing.
Do all states tax Powerball winnings?
No. California does not tax California Lottery prizes, including Powerball and Mega Millions, and Texas and Florida have no personal income tax. The table shows the states we have checked at their revenue departments.
Annuity rule: Powerball FAQs, checked 2026-11-07. More states and single prizes: lottery tax calculator. States ranked by what a winner keeps: Powerball take-home by state.
Sources
- Rev. Proc. 2025-32, section 4.01 (2026 tax rate tables) and 4.14 (standard deduction)
- IRS proposed §1.165-10, Internal Revenue Bulletin 2026-19 (90% wagering loss limit, P.L. 119-21 §70114)
- Instructions for Forms W-2G and 5754 (Rev. January 2026)
- IRS Topic no. 419, Gambling income and losses
Checked 2026-11-06. The 90% rule is law (P.L. 119-21); the IRS regulation implementing it is still proposed. Bills to restore the 100% deduction have been introduced in Congress but not passed. This is an estimate for planning, not tax advice; a tax professional can check your full return.