Lottery Jackpot After Taxes: Take-Home Pay by Jackpot Size (2026)

Jackpot Taxes

Rates as of October 30, 2026 · 2026 federal tax brackets

Powerball and Mega Millions advertise the annuity total. Here is what each jackpot size is worth as cash today, and what is left after federal tax, in a tax-free state and in New York.

Cash values are estimated from the 30-year U.S. Treasury yield (5.31% on October 30, 2026).

Jackpot	Cash value	Federal tax	Take-home, tax-free state	Take-home, New York
$100 Million	$42,240,664	-$15,579,046	$26,661,618	$22,057,386
$200 Million	$84,481,328	-$31,208,092	$53,273,236	$44,064,772
$300 Million	$126,721,992	-$46,837,137	$79,884,855	$66,072,157
$400 Million	$168,962,656	-$62,466,183	$106,496,473	$88,079,543
$500 Million	$211,203,320	-$78,095,228	$133,108,091	$110,086,929
$600 Million	$253,443,983	-$93,724,274	$159,719,709	$132,094,315
$750 Million	$316,804,979	-$117,167,843	$199,637,137	$165,105,394
$1 Billion	$422,406,639	-$156,240,457	$266,166,182	$220,123,859
$1.5 Billion	$633,609,959	-$234,385,685	$399,224,274	$330,160,788
$2 Billion	$844,813,278	-$312,530,913	$532,282,365	$440,197,718

Frequently Asked Questions

How much of a lottery jackpot do you keep after taxes?

With the cash option, about 42% of the advertised jackpot is paid before tax at today's interest rates. Federal tax then takes about 37%, so a winner in a tax-free state keeps roughly 27% of the advertised amount. State tax can lower that by up to another 10.9% of the cash value.

Why is the cash value so much lower than the jackpot?

The advertised jackpot is the total of 30 annuity payments over 29 years. The cash value is the money the lottery would need today to buy the bonds that pay for that annuity, so it falls when interest rates rise.

Other Jackpot Sizes

$100 Million after taxes $200 Million after taxes $300 Million after taxes $400 Million after taxes $500 Million after taxes $600 Million after taxes $750 Million after taxes $1 Billion after taxes $1.5 Billion after taxes $2 Billion after taxes

For education only, not tax or financial advice. Cash values are estimates: each lottery publishes the official cash value for every draw. Federal tax assumes a single filer with no other income; state rates were verified in October 2026. Speak to a licensed tax professional before claiming a prize.