Lottery Payment Calculator
Lottery Payout Calculator works out First annuity payment (gross) and Final annuity payment (gross) from Game, Advertised jackpot (annuity total) and Cash option published for this draw. The default figures on this page give first annuity payment (gross) of 1,505,143.51 USD; change any entry and the result, the working and the sources update together.
Your figures
Updates as you typeHow this is worked out
5 steps
- Payments grow 5% a year, so 30 of them sum to 66.4388475 times the first.
- First payment = 100000000 / that factor = 1505143.51
- Final payment = 1505143.51 x (1 + 0.05)^29 = 6195374.77
- No cash value given, so the schedule is discounted at 4.5%: 48431551.08
- Federal withholding at 24% and state/local at 0% leaves 36807978.82 of the cash option.
Payment scheduletable
| year | gross | federalWithheld | stateTax | net |
|---|---|---|---|---|
| 1 | 1,505,143.51 | 361,234.44 | 0 | 1,143,909.07 |
| 2 | 1,580,400.68 | 379,296.16 | 0 | 1,201,104.52 |
| 3 | 1,659,420.72 | 398,260.97 | 0 | 1,261,159.75 |
| 4 | 1,742,391.75 | 418,174.02 | 0 | 1,324,217.73 |
| 5 | 1,829,511.34 | 439,082.72 | 0 | 1,390,428.62 |
| 6 | 1,920,986.91 | 461,036.86 | 0 | 1,459,950.05 |
| 7 | 2,017,036.25 | 484,088.7 | 0 | 1,532,947.55 |
| 8 | 2,117,888.07 | 508,293.14 | 0 | 1,609,594.93 |
| 9 | 2,223,782.47 | 533,707.79 | 0 | 1,690,074.68 |
| 10 | 2,334,971.59 | 560,393.18 | 0 | 1,774,578.41 |
| 11 | 2,451,720.17 | 588,412.84 | 0 | 1,863,307.33 |
| 12 | 2,574,306.18 | 617,833.48 | 0 | 1,956,472.7 |
| 13 | 2,703,021.49 | 648,725.16 | 0 | 2,054,296.33 |
| 14 | 2,838,172.56 | 681,161.42 | 0 | 2,157,011.15 |
| 15 | 2,980,081.19 | 715,219.49 | 0 | 2,264,861.71 |
| 16 | 3,129,085.25 | 750,980.46 | 0 | 2,378,104.79 |
| 17 | 3,285,539.52 | 788,529.48 | 0 | 2,497,010.03 |
| 18 | 3,449,816.49 | 827,955.96 | 0 | 2,621,860.53 |
| 19 | 3,622,307.32 | 869,353.76 | 0 | 2,752,953.56 |
| 20 | 3,803,422.68 | 912,821.44 | 0 | 2,890,601.24 |
| 21 | 3,993,593.82 | 958,462.52 | 0 | 3,035,131.3 |
| 22 | 4,193,273.51 | 1,006,385.64 | 0 | 3,186,887.86 |
| 23 | 4,402,937.18 | 1,056,704.92 | 0 | 3,346,232.26 |
| 24 | 4,623,084.04 | 1,109,540.17 | 0 | 3,513,543.87 |
| 25 | 4,854,238.24 | 1,165,017.18 | 0 | 3,689,221.06 |
| 26 | 5,096,950.16 | 1,223,268.04 | 0 | 3,873,682.12 |
| 27 | 5,351,797.66 | 1,284,431.44 | 0 | 4,067,366.22 |
| 28 | 5,619,387.55 | 1,348,653.01 | 0 | 4,270,734.54 |
| 29 | 5,900,356.92 | 1,416,085.66 | 0 | 4,484,271.26 |
| 30 | 6,195,374.77 | 1,486,889.94 | 0 | 4,708,484.82 |
Its 5 worked examples are re-run on every release, last on 15 September 2026. What changed
Sources and references
3 sources
What the Lottery Payout Calculator calculates
Breaks an advertised lottery jackpot into its 30 graduated annual annuity payments and compares them with the cash option, showing federal withholding, the estimated liability at the top federal rate, state and local tax and what actually lands in the bank each year.
How to use this Lottery Payout Calculator
Enter Game, Advertised jackpot (annuity total), Cash option published for this draw and Discount rate used to estimate the cash value. First annuity payment (gross) updates as you type, and “Use a worked example” loads checked figures you can adjust. Change one figure at a time to see what drives the result.
How the result is worked out
Open “How this is worked out” beside the result for the step-by-step calculation behind First annuity payment (gross), Final annuity payment (gross) and Total of all annuity payments.
The method follows Powerball - Prize Chart, Mega Millions - Cash value versus annuity and IRC 3402(q) and IRS Publication 505 - withholding on gambling winnings.
Three graduated payments summing to 3,152,500 example
With Advertised jackpot (annuity total): 3152500, Number of annuity payments: 3, Annual increase in each payment: 5, Cash option published for this draw: 3000000, the calculator returns First annuity payment (gross): 1000000, Final annuity payment (gross): 1102500, Total of all annuity payments: 3152500. This example is checked against an independent source in the test suite.
What you can compare
Change one input at a time to see how it affects First annuity payment (gross), Final annuity payment (gross) and Total of all annuity payments. The inputs you can vary are Game, Advertised jackpot (annuity total), Cash option published for this draw, Discount rate used to estimate the cash value, Number of annuity payments and Annual increase in each payment.
Understanding First annuity payment (gross), Final annuity payment (gross) and Total of all annuity payments
Tax figures here are an estimate, not advice. The 24% federal withholding is not the final bill, state treatment of lottery prizes varies widely, and a jackpot winner’s actual liability depends on their whole return. Speak to a tax professional before choosing a payout option.
Results are general information, not financial, tax, legal, medical or engineering advice. Check any decision that matters with a qualified professional.
See something wrong? Report a problem with this calculator
Frequently asked questions
How to calculate lottery cash payout?
Breaks an advertised lottery jackpot into its 30 graduated annual annuity payments and compares them with the cash option, showing federal withholding, the estimated liability at the top federal rate. Open “How this is worked out” beside the result to see each step for your own figures.
What is the payout for 1.7 billion Powerball?
On the figures this page opens with — advertised jackpot (annuity total) 3,152,500 USD, cash option published for this draw 3,000,000 USD, annual increase in each payment 5% and mandatory federal withholding 24% — the first annuity payment (gross) is 1,505,143.51 USD. No single number fits everyone: change any figure above and the answer updates as you type, with each step of the arithmetic beside it.
What information do I need for the Lottery Payout Calculator?
You need Game, Advertised jackpot (annuity total), Cash option published for this draw, Discount rate used to estimate the cash value, Number of annuity payments, Annual increase in each payment, Mandatory federal withholding and Top federal marginal rate. The page opens with default figures that give first annuity payment (gross) of 1,505,143.51 USD, so you can see the scale before entering your own.
What does this Lottery Payout Calculator show?
It shows First annuity payment (gross), Final annuity payment (gross), Total of all annuity payments, Annuity total after tax, First payment after withholding and state tax, Cash option (gross), Federal withholding on the cash option and State and local tax on the cash option, with the working and any warnings for your entries.
Can I check how the Lottery Payout Calculator result was calculated?
Yes. The “How this is worked out” section shows the calculation steps, and the sources section identifies the references used for the method.