$300 Million Lottery Jackpot After Taxes
A $300 million Powerball or Mega Millions jackpot never pays $300 million in cash. The lump sum is about 47% of the advertised number, federal tax reaches the 37% bracket, and the state where you bought the ticket may take up to 10.9% more. Here is the real math for every state (rates as of January 2026).
Lump sum, no-tax state (TX, FL, CA…)
$88,874,043
29.62% of the advertised jackpot
Lump sum, New York (10.9%)
$73,505,043
NYC residents net even less (14.776% combined)
Annuity total, no-tax state
$190,321,282
30 payments over 29 years, each +5%
$300 Million after taxes in every state
Net lump sum (47% cash value) and net 30-year annuity total after federal and state taxes. Sorted from highest to lowest take-home.
| State | State tax | Lump sum net | Annuity net (total) |
|---|---|---|---|
| Alaska(no lottery) | None | $88,874,043 | $190,321,282 |
| California | None | $88,874,043 | $190,321,282 |
| Delaware | None | $88,874,043 | $190,321,282 |
| Florida | None | $88,874,043 | $190,321,282 |
| Nevada(no lottery) | None | $88,874,043 | $190,321,282 |
| New Hampshire | None | $88,874,043 | $190,321,282 |
| South Dakota | None | $88,874,043 | $190,321,282 |
| Tennessee | None | $88,874,043 | $190,321,282 |
| Texas | None | $88,874,043 | $190,321,282 |
| Washington | None | $88,874,043 | $190,321,282 |
| Wyoming | None | $88,874,043 | $190,321,282 |
| Arizona | 2.5% | $85,349,043 | $182,821,282 |
| North Dakota | 2.5% | $85,349,043 | $182,821,282 |
| Ohio | 2.75% | $84,996,543 | $182,071,282 |
| Indiana | 3% | $84,644,043 | $181,321,282 |
| Louisiana | 3% | $84,644,043 | $181,321,282 |
| Pennsylvania | 3.07% | $84,545,343 | $181,111,282 |
| Kentucky | 3.5% | $83,939,043 | $179,821,282 |
| Iowa | 3.8% | $83,516,043 | $178,921,282 |
| Arkansas | 3.9% | $83,375,043 | $178,621,282 |
| North Carolina | 3.99% | $83,248,143 | $178,351,282 |
| Mississippi | 4% | $83,234,043 | $178,321,282 |
| Michigan | 4.25% | $82,881,543 | $177,571,282 |
| Colorado | 4.4% | $82,670,043 | $177,121,282 |
| Utah(no lottery) | 4.5% | $82,529,043 | $176,821,282 |
| Nebraska | 4.55% | $82,458,543 | $176,671,282 |
| Missouri | 4.7% | $82,247,043 | $176,221,282 |
| Oklahoma | 4.75% | $82,176,543 | $176,071,282 |
| West Virginia | 4.82% | $82,077,843 | $175,861,282 |
| Illinois | 4.95% | $81,894,543 | $175,471,282 |
| Alabama(no lottery) | 5% | $81,824,043 | $175,321,282 |
| Georgia | 5.19% | $81,556,143 | $174,751,282 |
| Idaho | 5.3% | $81,401,043 | $174,421,282 |
| Kansas | 5.7% | $80,837,043 | $173,221,282 |
| Virginia | 5.75% | $80,766,543 | $173,071,282 |
| Montana | 5.9% | $80,555,043 | $172,621,282 |
| New Mexico | 5.9% | $80,555,043 | $172,621,282 |
| Rhode Island | 5.99% | $80,428,143 | $172,351,282 |
| South Carolina | 6.2% | $80,132,043 | $171,721,282 |
| Connecticut | 6.99% | $79,018,143 | $169,351,282 |
| Maine | 7.15% | $78,792,543 | $168,871,282 |
| Wisconsin | 7.65% | $78,087,543 | $167,371,282 |
| Vermont | 8.75% | $76,536,543 | $164,071,282 |
| Maryland | 8.95% | $76,254,543 | $163,471,282 |
| Massachusetts | 9% | $76,184,043 | $163,321,282 |
| Minnesota | 9.85% | $74,985,543 | $160,771,282 |
| Oregon | 9.9% | $74,915,043 | $160,621,282 |
| District of Columbia | 10.75% | $73,716,543 | $158,071,282 |
| New Jersey | 10.75% | $73,716,543 | $158,071,282 |
| New York | 10.9% | $73,505,043 | $157,621,282 |
| Hawaii(no lottery) | 11% | $73,364,043 | $157,321,282 |
Other jackpot sizes
$300 Million jackpot FAQ
How much is the $300 million jackpot after taxes?
Taking the lump sum (cash value about 47% of the advertised jackpot), you would net roughly $88,874,043 in a no-tax state like Texas or Florida, down to about $73,505,043 in New York (10.9% state tax). The 30-year annuity nets roughly $190,321,282 in total in a no-tax state.
Why do I lose more than half of a $300 million jackpot?
Two discounts stack: the lump-sum cash value is only about 47% of the advertised number, and then federal tax takes an effective ~37% of that at jackpot size, plus state tax of 0–10.9%. The advertised figure is the pre-tax 30-year annuity total, not what anyone takes home in cash.
Should I take the lump sum or the annuity?
The annuity delivers a larger after-tax total and built-in spending discipline; the lump sum gives immediate control and the chance to out-invest the annuity's implicit return. Most winners take the cash, but the right answer depends on your discipline, age, and investment plan — see our lump sum vs annuity guide.