Lottery Payout Calculator: Lump Sum vs Annuity
Enter a jackpot, pick your state and filing status, and see exactly what you'd take home after federal and state taxes — for both the cash lump sum and the 30-year annuity.
Lump Sum (Cash Option)
Take 49% of the advertised jackpot today, taxed all at once.
| Cash value | $49,000,000 |
| Federal tax | − $18,087,020 |
| State tax (0.00%) | − $0 |
| Net take-home | $30,912,980 |
30-Year Annuity
One payment per year for 30 years (simplified — actual payments grow 5% annually).
| Annual gross | $3,333,333 |
| Federal tax / yr | − $1,190,354 |
| State tax / yr (0.00%) | − $0 |
| Annual net | $2,142,980 |
| 30-year total net | $64,289,393 |
Which is better for California?
On these inputs, the annuity nets $33,376,413 more than the lump sum over 30 years — before accounting for investment returns on the cash option, inflation, or your personal tax situation in future years.
Related tools & guides
- Powerball jackpot analysis — every state
- Mega Millions jackpot analysis — every state
- State-by-state tax calculator
- How to play Powerball
- How to play Mega Millions
Estimates only. Federal brackets reflect 2025 IRS rates; state tax uses each state's top marginal rate. Local/municipal taxes (e.g. NYC) are not included. Consult a tax professional before claiming a prize.