Lottery Calculator — Powerball & Mega Millions Lump Sum vs Annuity (After Tax)

Inputs

Lottery

Powerball Mega Millions

Advertised Jackpot (annuity) — enter in millions

$

Use the advertised jackpot (annuity) in millions.
Example: enter 20 for $20 million, 950 for $950 million, OR
1100 for $1.1 Billion.

Cash Option % (optional) If left blank, we’ll use a typical default for the selected game. You can override here.

Federal Withholding States may also withhold taxes (not included here).

(See results below)

Results

Lump Sum (Cash Option)

Pre‑tax Cash:

Federal Tax:

After‑Tax Cash:

Annuity (30 payments, +5%/yr)

First Payment (pre‑tax):

Last Payment (pre‑tax):

Annual Federal Tax (Yr 1):

Total After‑Tax (all years):

View full 30‑year payment schedule

Notes: We assume 30 payments increasing 5% yearly, which matches official Powerball and Mega Millions annuity structures. Federal taxes are estimated only and applied to each payment (or the lump sum) using the withholding chosen above.

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Disclaimers

Cash option % varies with interest rates and is set by the lottery; use the published cash value if available for the most accurate result.
State and local taxes are not included here and can significantly change outcomes.
This is an educational estimator and not financial or tax advice.