Powerball Net Calculator
Calculate your 2026 take-home pay after the maximum Federal and State tax deductions.
Net Winnings FAQs
When you win, the lottery office automatically withholds 24% for federal taxes. However, because a large win is considered income, you will actually owe 37%. The “Net” amount in this calculator accounts for that extra 13% you’ll owe when you file your 2026 taxes.
The “Net” for the cash option is lower because the advertised jackpot is a 30-year projection. The “Net Cash” is the actual money in the prize pool today (~52%), minus the 2026 tax burden.
Most states with a lottery tax will withhold it before they give you the check. A few states (like Maryland and Arizona) have different rates for residents vs. non-residents. This calculator uses resident rates.
A $1 Million win is taxed at the same top federal rate of 37%. In a no-tax state, your “Net” would be $630,000. If you live in a high-tax state like New York, your net take-home would be roughly $541,800.
There is none. Lottery winnings are considered “other income,” not self-employment income, so you do not have to pay Social Security or Medicare taxes (FICA) on your net winnings.