Estimate take-home on a lottery jackpot using a 60.0% cash option, a 30-year annuity, 2026 IRS brackets, 24.0% federal withholding on prizes of $5,000+, and state tax (Florida 0%, Georgia 5.49%, Texas 0%, California 0%). Educational estimate — not tax advice.
Advertised × 60.0%
Effective federal rate 37.0% after the $16,100 standard deduction.
Advertised ÷ 30 annual payments
Taxable income modeled as cash option minus the 2026 standard deduction, as if this prize were your only income.
| Rate | Income in bracket | Tax |
|---|---|---|
| 10.0% | $12,400 | $1,240 |
| 12.0% | $38,000 | $4,560 |
| 22.0% | $55,300 | $12,166 |
| 24.0% | $96,075 | $23,058 |
| 32.0% | $54,450 | $17,424 |
| 35.0% | $384,375 | $134,531 |
| 37.0% | $299,343,300 | $110,757,021 |
U.S. lottery jackpots are advertised as 30-year annuities. If you take cash, the lottery pays a lump sum worth about 60% of that headline number. The IRS treats the cash (or each annuity check) as ordinary income: 24% is withheld on reportable gambling winnings of $5,000 or more, and the rest is settled on your return using the 2026 brackets up to 37%. Georgia adds 5.49% state tax on top of the IRS bill, so take-home is lower than in Florida, Texas, or California for the same advertised jackpot. These figures assume the prize is your only income after the standard deduction. Other income, itemized deductions, estate planning, and residency rules can change the result.
Georgia taxes lottery winnings at 5.49%.
| State | State lottery tax | Why it matters |
|---|---|---|
| Florida | 0% | No state income tax. Federal tax still applies. |
| Georgia | 5.49% | Stacked on federal tax — on a large prize that adds up fast. |
| Texas | 0% | No state income tax either. Federal withholding is the only bite. |
| California | 0% | California Lottery winnings are exempt from state income tax per the FTB. |
Source: IRS Revenue Procedure 2025-32 (returns filed in 2027).
| Rate | Single | Married jointly | Head of household |
|---|---|---|---|
| 10.0% | $0 – $12,400 | $0 – $24,800 | $0 – $17,700 |
| 12.0% | $12,401 – $50,400 | $24,801 – $100,800 | $17,701 – $67,450 |
| 22.0% | $50,401 – $105,700 | $100,801 – $211,400 | $67,451 – $105,700 |
| 24.0% | $105,701 – $201,775 | $211,401 – $403,550 | $105,701 – $201,750 |
| 32.0% | $201,776 – $256,225 | $403,551 – $512,450 | $201,751 – $256,200 |
| 35.0% | $256,226 – $640,600 | $512,451 – $768,700 | $256,201 – $640,600 |
| 37.0% | Over $640,600 | Over $768,700 | Over $640,600 |
No. Florida has no state income tax, so it does not tax lottery prizes. Federal income tax still applies. RaspaPro’s calculator uses a 0% Florida rate and 2026 IRS ordinary-income brackets.
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