Lottery jackpots after taxes, by state
What the current jackpots pay after federal, state and city taxes, from the official cash values.
Powerball
$360 million
Cash option $153.6 million. Next drawing Saturday, Sep 26.
You keep $74.1 million to $96.8 million in cash, depending on the state.
Jackpot data as of Sep 24, 2026, for the Saturday, Sep 26 drawing.
Mega Millions
$300 million
Cash option $124.1 million. Next drawing Tuesday, Sep 29.
You keep $59.9 million to $78.2 million in cash, depending on the state.
Jackpot data as of Sep 26, 2026, for the Tuesday, Sep 29 drawing.
Your state, your filing status
Powerball jackpot $360 million (current), winner living in Texas.
You keep about
$96.8 million in cash, single filer
Ninety-six million eight hundred eighteen thousand and 00/100 dollars
| Item | Amount | Share of jackpot |
|---|---|---|
| Advertised jackpotSum of 30 annuity payments | $360,000,000 | |
| Cash optionOfficial cash value | $153,600,000 | |
| Federal tax withheld at claim24% of the prize | −$36,864,000 | |
| Federal tax still owed at filingTop bracket is 37% | −$19,918,000 | |
| Texas state taxNo state income tax | $0 | |
| You keep26.9% of the advertised jackpot | $96,818,000 |
Browse by state
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
Links go to Powerball; each state page links to Mega Millions too.
Popular amounts
- $100 million Powerball
- $100 million Mega Millions
- $250 million Powerball
- $250 million Mega Millions
- $500 million Powerball
- $500 million Mega Millions
- $750 million Powerball
- $750 million Mega Millions
- $1 billion Powerball
- $1 billion Mega Millions
- $1.5 billion Powerball
- $1.5 billion Mega Millions
- $2 billion Powerball
- $2 billion Mega Millions
Guides
- Lump sum or annuity
- Best states to win the lottery
- Largest jackpots in history
- Powerball annuity schedule
- Mega Millions annuity schedule
- How we calculate
Questions
How much is the Powerball jackpot after taxes?
About $96.8 million in cash in a state with no income tax, for the current $360 million jackpot ($153.6 million cash value). In New York City it is $74.1 million.
How much is the Mega Millions jackpot after taxes?
About $78.2 million in cash in a state with no income tax, for the current $300 million jackpot ($124.1 million cash value).
How much tax do you pay on lottery winnings?
On a jackpot, about 37% federal (24% is withheld when you claim and the rest is due when you file) plus 0% to 10.9% state tax, and 3.876% more in New York City. Prizes are taxed as ordinary income.
Which states do not tax lottery winnings?
Alaska, California, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, Wyoming. California exempts only prizes from tickets bought in California.
Why is the cash option less than the advertised jackpot?
The advertised jackpot is the total of 30 annuity payments made over 29 years. The cash option is the money actually in the prize pool today, currently 42.7% of the advertised Powerball jackpot.
These figures describe the taxes on a prize that has already been won; they are not a reason to buy a ticket. Jackpot odds are hundreds of millions to one. If gambling is causing problems for you or someone close to you, call or text 1-800-GAMBLER (National Problem Gambling Helpline, 24/7).
Sources for this page
- Powerball official site (current jackpot and cash value) (checked Sep 24, 2026)
- Report of the official jackpot estimate used here (checked Sep 26, 2026)
- Mega Millions official site (current jackpot and cash value) (checked Sep 26, 2026)
- Report of the official jackpot estimate used here (checked Sep 26, 2026)
- IRS: 2026 inflation adjustments (Rev. Proc. 2025-32) (checked Sep 26, 2026)
- IRS Publication 505: withholding on gambling winnings (checked Sep 26, 2026)
Figures are estimates for planning, not tax or legal advice. How they are calculated: methodology. Read the disclaimer.