Lotto
Latest draw · Wednesday, July 1, 2026
Lotto Tax Calculator
See what you'd really take home from a Lotto prize after federal and Florida state tax — as a lump sum or a 30-year annuity.
- Prize (lump-sum cash)
- $6,750,000
- Federal tax
- − $2,455,688
- State tax (Florida · 0%)
- − $0
- Net take-home
- $4,294,312
🎉 Florida doesn't tax lottery winnings — you only pay federal tax on your Lotto prize.
Estimate only — uses single-filer federal brackets and Florida's top lottery-withholding rate. Actual tax depends on your total income, filing status and deductions. Not tax advice.
Lotto tax FAQ
How much tax do you pay on a Lotto jackpot in Florida?
On a $6,750,000 Lotto jackpot taken as a lump sum, you'd pay about $2,455,688 in federal tax and no Florida state tax, leaving roughly $4,294,312.
Does Florida tax Lotto lottery winnings?
No — Florida does not tax lottery winnings, so you only pay federal tax on a Lotto prize.
Should I take the Lotto lump sum or annuity?
The lump sum pays a smaller, discounted amount now with full control; the 30-year annuity pays the full advertised jackpot spread over time and can keep you in lower yearly tax brackets. The best choice depends on your goals and tax situation.