Lotto
Latest draw · Saturday, July 4, 2026 · evening
Lotto Tax Calculator
See what you'd really take home from a Lotto prize after federal and New York state tax — as a lump sum or a 30-year annuity.
- Prize (lump-sum cash)
- $2,500,000
- Federal tax
- − $883,188
- State tax (New York · 10.9%)
- − $272,500
- Net take-home
- $1,344,312
Estimate only — uses single-filer federal brackets and New York'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 New York?
On a $2,500,000 Lotto jackpot taken as a lump sum, you'd pay about $883,188 in federal tax and $272,500 in New York state tax, leaving roughly $1,344,312.
Does New York tax Lotto lottery winnings?
Yes — New York withholds about 10.9% in state tax on Lotto winnings, on top of federal tax.
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.