Calculate your estimated lottery winnings after federal and state taxes with our Lottery Tax Calculator. Get tailored results based on your location and payout choice.
Enter your details to calculate your net winnings.
Our lottery tax calculator provides a simple way to estimate your net winnings. By factoring in federal and state taxes, it offers clear insights into how much you'll take home after winning the lottery.
Input the amount you won in the lottery to start calculating your taxes.
Choose your state to calculate state taxes alongside federal taxes.
Select lump sum or annuity to see your estimated take-home amount.
This calculator includes federal and state tax rates for all U.S. states.
Local taxes are not included in the calculator but may apply in some areas. For example, cities like New York City and Yonkers have additional tax rates on lottery winnings. Please consult a tax professional if local taxes might apply to your situation.
The calculator provides a close approximation based on current federal and state tax rates. However, individual tax obligations can vary based on factors such as your total income, filing status, and residency. If you notice any errors, please feel free to contact our team at hello@lotteryvalley.com.
If you win the lottery in a state where you don’t reside, most states will not withhold taxes. However, some exceptions exist, such as Arizona and Maryland, which tax non-residents. Even if the state does not withhold taxes, you may still owe taxes to your home state on those winnings.
Yes, winning the lottery can significantly impact your tax bracket. Lottery winnings are considered taxable income and are combined with your other income for the year. This could push you into a higher federal tax bracket, with rates up to 37%.
No, lottery winnings are not considered earned income and therefore do not affect Social Security benefits. They are taxed as ordinary taxable income but are not included when calculating eligibility for Social Security benefits.
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Sign Up for the NewsletterThe content provided by Lottery Valley is for informational purposes only and is not intended to serve as tax, legal, or accounting advice. We recommend consulting a qualified tax professional, attorney, or accountant for personalized guidance regarding your federal and state tax obligations. If you come across any inaccuracies or have corrections to share, please contact us at hello@lotteryvalley.com
