Powerball Annuity Calculator

Powerball payments grow 5% every year, so the first one is the smallest. The calculator finds it by dividing the jackpot by the growth factor 66.438848, not by 30.

On a $350 million jackpot, payment 1 is about $5.27 million and payment 30 is about $21.6 million.

Annuity, cash, yield, and ratio are linked. Change one and something else must move. The drop-down tells the calculator what to keep the same.

• Hold Ratio: raise the jackpot and cash rises with it.
• Hold Cash: raise the jackpot and the ratio and yield change instead.
• Hold Yield: the interest rate stays put and cash is recalculated.

Because the four linked boxes always stay in balance. If you typed a new jackpot while "Ratio" was held fixed, the cash value had to move to keep the same percent.

To lock a cash offer in place, set the Annuity drop-down to Cash before you type.

It is what each future payment is worth today at the implied yield. Add up all 30 discount prices and you get the cash option.

That check line under the table proves it: the PV total should match the cash value you entered.

It is solved backward from the cash-to-annuity ratio. A 48% ratio on a 5%-growing 30-payment stream needs about a 4.29% annual return.

If real bond rates go up, the ratio drops and the cash option gets smaller.

Yes. Click the small chevron button next to any payment number in the schedule. A table opens showing every tax bracket, the rate, the dollars taxed in that bracket, and the tax from it.

Yes. It applies the 2026 brackets to every payment. Real brackets get adjusted for inflation each year, so future federal tax will likely be a bit lower than shown.

Treat the 30-year totals as a solid estimate, not a promise.

No. Only federal and state or territory tax. Cities like New York City and Yonkers add their own tax on top, which can be 3% to 4% more.

Close enough for a jackpot. The rate shown is the state's top lottery or income tax rate, and a jackpot payment lands in the top tier anyway.

Lower prizes may be taxed less than the calculator shows.

Enter only your share. If four people split $350 million, type 87,500,000 as the annuity and one quarter of the cash value.

Splitting also lowers your effective tax rate, since each winner fills the lower brackets first.

The tax math works for any amount, but the 30-payment schedule only applies to the jackpot. Powerball's $1 million and $2 million prizes are always paid as cash.

For those, read the Cash — Single Lump Sum card and ignore the annuity side.

Use it to see the check size right after you claim. The lottery holds back 24% for the IRS at payout, not your full bill.

An orange box then shows the extra federal tax you will likely owe at filing time.

Only the top slice of income is taxed at 37%. The dollars below it are taxed at 10%, 12%, 22%, 24%, 32%, and 35%.

Your effective rate is total tax divided by total prize, so it always lands below the top bracket.

Payments grow 5% a year, but that column also strips out inflation. If you set inflation above 5%, buying power falls each year even as the dollar amount rises.

Set inflation to 0% to turn the effect off.

No. It taxes the prize alone with no deductions. If you have a big salary, the prize stacks on top and your real tax is higher.

Large charity gifts can cut the bill, so check with a tax pro.

Not automatically. That comparison adds 30 years of raw dollars against one payment today, so it ignores what you could earn by investing the lump sum.

Use the inflation-adjusted total and the yield figure together to judge which fits your plans.

The remaining payments go to the winner's estate or named heirs. They are not lost. Some states let the estate ask for the rest as a lump sum.

This calculator does not model estate tax.

Those places do not tax lottery wins. That includes Florida, Texas, Washington, Tennessee, California, and Puerto Rico, among others.

You still owe federal tax on every dollar.