Take-Home Jackpot

$225 Million Powerball after taxes

$225 Million Powerball jackpot, cash option about $96 million. Single filer.

You keep about

$60.5 million in cash where there is no state income tax

Sixty million five hundred thirty-four thousand seven hundred twenty-five and 00/100 dollars

From $46.3 million in New York City to $60.5 million in Alaska, California, Florida, Nevada and 6 more.

Hypothetical jackpot. Cash value estimated from the current official Powerball cash-to-jackpot ratio (42.7%, as of Sep 24, 2026). Tax rules for 2026.

Cash option, from advertised jackpot to what you keep
Advertised jackpotSum of 30 annuity payments$225,000,000
Cash optionEstimated at 42.7% of the jackpot, the current official ratio$96,007,500
Federal tax withheld at claim24% of the prize−$23,041,800
Federal tax still owed at filingTop bracket is 37%−$12,430,975
Texas state taxNo state income tax$0
You keep26.9% of the advertised jackpot$60,534,725

All 50 states and DC

Single filer, ticket bought in the state you live in. Sort by clicking a column name.
State Cash kept Annuity kept State tax
Wyoming State tax: none $60.5 million $143.2 million none
Wisconsin State tax: 7.65% $53.2 million $126 million 7.65%
West Virginia State tax: 4.58% $56.1 million $132.9 million 4.58%
Washington State tax: none $60.5 million $143.2 million none
Virginia State tax: 5.75% $55 million $130.3 million 5.75%
Vermont State tax: 8.75% $52.1 million $123.6 million 8.75%
Utah* State tax: 4.45% $56.3 million $133.2 million 4.45%
Texas State tax: none $60.5 million $143.2 million none
Tennessee State tax: none $60.5 million $143.2 million none
South Dakota State tax: none $60.5 million $143.2 million none
South Carolina State tax: 5.21% $55.5 million $131.5 million 5.21%
Rhode Island State tax: 5.99% $54.8 million $129.8 million 5.99%
Pennsylvania State tax: 3.07% $57.6 million $136.3 million 3.07%
Oregon State tax: 9.9% $51 million $121 million 9.9%
Oklahoma State tax: 4.5% $56.2 million $133.1 million 4.5%
Ohio State tax: 2.75% $57.9 million $137.1 million 2.75%
North Dakota State tax: 2.5% $58.1 million $137.6 million 2.5%
North Carolina State tax: 3.99% $56.7 million $134.3 million 3.99%
New York State tax: 10.9% $50.1 million $118.7 million 10.9%
New York City State tax: 14.776% $46.3 million $110 million 14.776%
Yonkers State tax: 12.726% $48.3 million $114.6 million 12.726%
New Mexico State tax: 5.9% $54.9 million $130 million 5.9%
New Jersey State tax: 10.75% $50.2 million $119.1 million 10.75%
New Hampshire State tax: none $60.5 million $143.2 million none
Nevada* State tax: none $60.5 million $143.2 million none
Nebraska State tax: 4.55% $56.2 million $133 million 4.55%
Montana State tax: 5.65% $55.1 million $130.5 million 5.65%
Missouri State tax: 4.7% $56 million $132.7 million 4.7%
Mississippi State tax: 4% $56.7 million $134.2 million 4%
Minnesota State tax: 9.85% $51.1 million $121.1 million 9.85%
Michigan State tax: 4.25% $56.5 million $133.7 million 4.25%
Massachusetts State tax: 9% $51.9 million $123 million 9%
Maryland State tax: 6.5% $54.3 million $128.6 million 6.5%
Maine State tax: 9.15% $51.8 million $122.7 million 9.15%
Louisiana State tax: 3% $57.7 million $136.5 million 3%
Kentucky State tax: 3.5% $57.2 million $135.4 million 3.5%
Kansas State tax: 5.58% $55.2 million $130.7 million 5.58%
Iowa State tax: 3.8% $56.9 million $134.7 million 3.8%
Indiana State tax: 2.95% $57.7 million $136.6 million 2.95%
Illinois State tax: 4.95% $55.8 million $132.1 million 4.95%
Idaho State tax: 5.3% $55.4 million $131.3 million 5.3%
Hawaii* State tax: 11% $50 million $118.5 million 11%
Georgia State tax: 4.99% $55.7 million $132 million 4.99%
Florida State tax: none $60.5 million $143.2 million none
District of Columbia State tax: 10.75% $50.2 million $119.1 million 10.75%
Delaware State tax: 6.6% $54.2 million $128.4 million 6.6%
Connecticut State tax: 6.99% $53.8 million $127.5 million 6.99%
Colorado State tax: 4.4% $56.3 million $133.3 million 4.4%
California State tax: exempt $60.5 million $143.2 million exempt
Arkansas State tax: 3.7% $57 million $134.9 million 3.7%
Arizona State tax: 2.5% $58.1 million $137.6 million 2.5%
Alaska* State tax: none $60.5 million $143.2 million none
Alabama* State tax: 5% $55.7 million $132 million 5%

* No state lottery; residents who win with a ticket bought elsewhere still owe their home state's income tax, and the state where the ticket was bought may tax it first. Local rows (New York City, Yonkers) include state and city tax.

Lump sum or annuity

Lump sum and annuity after tax in a state with no income tax
Cash optionAnnuity (30 payments)
Before tax$96,007,500$225,000,000
Total tax−$35,472,775−$81,750,007
You keep$60,534,725$143,249,993
In today's dollarsannuity discounted at 3% a year$60,534,725$86,777,819
When you get itAll at once$2.2 million now, then yearly up to $8.8 million

The annuity keeps $82.7 million more after tax in total but pays it over 29 years; the cash would need to earn 5.5% a year after tax to fund the same payments. How to think about the choice.

30 annuity payments from $2.2 million to $8.8 million after tax
30 annual payments, taxed in the year received (2026 brackets assumed every year)
PaymentYearBefore taxFederalStateAfter tax
12026$3,386,573−$1,203,032$0$2,183,541
22027$3,555,902−$1,265,684$0$2,290,218
32028$3,733,697−$1,331,468$0$2,402,229
42029$3,920,381−$1,400,541$0$2,519,840
52030$4,116,401−$1,473,068$0$2,643,332
62031$4,322,221−$1,549,222$0$2,772,999
72032$4,538,332−$1,629,183$0$2,909,149
82033$4,765,248−$1,713,142$0$3,052,106
92034$5,003,511−$1,801,299$0$3,202,211
102035$5,253,686−$1,893,864$0$3,359,822
112036$5,516,370−$1,991,057$0$3,525,313
122037$5,792,189−$2,093,110$0$3,699,079
132038$6,081,798−$2,200,266$0$3,881,533
142039$6,385,888−$2,312,779$0$4,073,109
152040$6,705,183−$2,430,918$0$4,274,265
162041$7,040,442−$2,554,964$0$4,485,478
172042$7,392,464−$2,685,212$0$4,707,252
182043$7,762,087−$2,821,972$0$4,940,115
192044$8,150,191−$2,965,571$0$5,184,620
202045$8,557,701−$3,116,350$0$5,441,351
212046$8,985,586−$3,274,667$0$5,710,919
222047$9,434,865−$3,440,900$0$5,993,965
232048$9,906,609−$3,615,445$0$6,291,163
242049$10,401,939−$3,798,718$0$6,603,221
252050$10,922,036−$3,991,154$0$6,930,882
262051$11,468,138−$4,193,211$0$7,274,927
272052$12,041,545−$4,405,372$0$7,636,173
282053$12,643,622−$4,628,140$0$8,015,482
292054$13,275,803−$4,862,047$0$8,413,756
302055$13,939,593−$5,107,650$0$8,831,943
Total$225,000,000−$81,750,007$0$143,249,993

Questions

How much is a $225 million Powerball after taxes?

About $60.5 million in cash in a state with no income tax, down to $46.3 million in New York City. The cash option is about $96 million (estimated with the current cash-to-jackpot ratio of 42.7%) before taxes.

What is the cash value of a $225 million Powerball jackpot?

About $96 million. The advertised $225 million is the sum of 30 annuity payments; the cash option is the money actually in the jackpot pool, which is why it is smaller.

How much is the $225 million Powerball annuity per year after taxes?

The first payment is about $3.4 million before taxes and $2.2 million after federal tax, rising 5% a year to $8.8 million after tax in year 30 (before any state tax).

How much federal tax do you pay on a $225 million Powerball jackpot?

About $35.5 million on the cash option: $23 million withheld at claim (24%) and about $12.4 million more when you file, because the top bracket is 37%.

Which state is best to win a $225 million Powerball jackpot in?

You keep the most, $60.5 million in cash, in Alaska, California, Florida, Nevada, New Hampshire, South Dakota and 4 more. You keep the least in New York City.

Nearby amounts

Current jackpot by state

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

Figures are estimates for planning, not tax or legal advice. How they are calculated: methodology. Read the disclaimer.