π° Lottery Tax Calculator
Calculate taxes on lottery winnings including federal, state, and the difference between lump sum and annuity.
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Lottery Tax Reality
Lottery winnings are taxed as ordinary income. The federal withholding rate is 24%, but the top rate is 37% β so you'll owe more at tax time. States like CA, FL, and TX have no state income tax on lottery winnings. The lump sum is typically 60% of the advertised jackpot.
Lottery TaxWinningsFederal TaxLump Sum vs Annuity