Powerball Calculator
Calculate your after-tax winnings and compare lump sum vs annuity payments
Powerball Payout Calculator
Lump Sum One-Time Payment
Annuity 30 Payments over 29 Years
Payment Schedule Details
One-Time Cash Payment Breakdown
Understanding Your Options
Lump Sum Payment
- • Immediate access to cash value (~52% of advertised jackpot)
- • Subject to highest federal tax bracket (37%)
- • No protection against inflation
- • Full control over investment decisions
Annuity Payments
- • 30 payments over 29 years (first payment immediate)
- • Each payment increases by ~5% annually
- • Protection against overspending
- • Inflation protection through payment increases
Frequently Asked Questions
Lump sum is a one-time cash payment of the present value of the jackpot (typically around 52% of the advertised amount). Annuity provides 30 graduated payments over 29 years, with each payment increasing by about 5% annually. The first payment is made when you claim the prize.
Powerball winnings are subject to federal income tax (up to 37% for the highest bracket) and state taxes that vary by state (0% to over 13%). Some states don't tax lottery winnings, while others have significant state tax rates. The lottery also withholds 24% federal tax upfront.
The cash value is the present-value prize pool available at the time of the draw, typically around 50-60% of the advertised jackpot amount. Many calculators use approximately 52% as a working estimate, but the actual cash value is determined by the lottery for each specific draw.
Powerball annuity pays 30 graduated payments over 29 years. The first payment is made when the prize is claimed, and each subsequent annual payment increases by about 5%. This structure helps protect against inflation over the long term.
Important Disclaimer
This calculator provides estimates for educational purposes only. Actual tax calculations may vary based on individual circumstances, tax law changes, and other factors. The cash value percentage and tax rates are approximations. Please consult with a qualified tax professional or financial advisor for personalized advice. This tool is not a substitute for professional financial or tax advice.