Lottery Tax Calculator: How Your Winnings Are Taxed

Use the lottery tax calculator to estimate the tax amount deducted from a lottery prize, received as either a lump sum or through annuity payments

Most states charge a tax on lottery winnings The amount initially withheld and how the winnings get taxed depends on your state's tax rate

payout slot The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn

payout slot machine As mentioned, the annuity option means you'll receive a check every year with another, slightly larger portion of your lottery winnings While