Florida Lottery
Florida Lottery Tax Calculator
Florida’s constitution forbids a state tax on personal income, so the only tax on a Florida Lottery prize is federal: 24% withheld over $5,000, and up to 37% owed when you file.
Verified · tax year 2026
Florida prize — results
Lump sum · take-home
63% kept of $135,000,000
Annuity · 30 payments
Year 1 $2,894,721 → year 30 $11,759,258
| Cash received | $135,000,000 |
|---|---|
| Federal income tax | −$49,900,000 |
| Tax to Florida | $0 |
| Florida tax | $0 |
| Local income tax | $0 |
| You keep | $85,100,000 |
| Federal withholding (24%) | −$32,400,000 |
|---|---|
| State withholding | $0 |
| Check you receive | $102,600,000 |
| Still owed when you file | $17,500,000 |
Data: IRS Rev. Proc. 2025-32 · state agencies, verified · what this leaves out
Thirty-seven percent, not twenty-four
Article VII, § 5 of the Florida Constitution bars a state tax on the income of natural persons, which leaves the IRS as the only taxing authority on a Florida win. The trap is the withholding. On a $300 million Powerball jackpot taken as $135 million in cash, the Lottery sends $32,400,000 to the IRS, but the 2026 brackets put the federal tax at $49,900,000, because every dollar above $640,600 of taxable income is taxed at 37%. Roughly $17,500,000 is still owed at filing. The 30-payment annuity totals $190,499,993 after tax.
Deadlines, the cash election and the 90-day shield
The Florida Lottery gives draw-game winners 180 days from the drawing to claim and scratch-off winners 60 days after the game ends. A jackpot winner then has 60 days to choose between cash and annual payments. Florida treats a winner’s name, city, game, date, amount and selling retailer as public records — with one exception added on May 25, 2022: names of winners of $250,000 or more are withheld for 90 days after the claim unless the winner waives it.
Visitors from Georgia and Alabama
Florida withholds no state tax from out-of-state winners either. A Georgian who wins $1,000,000 on a Florida ticket owes Georgia’s 4.99% — $49,900 — with nothing withheld toward it. Alabamians, whose state has no lottery, are in the same position with Alabama’s 5% top rate.
Florida at a glance
| State income tax on winnings | None |
|---|---|
| Lottery | Florida Lottery |
| State withholding at claim | None |
What Florida winners should know
- Florida’s constitution bars a state tax on the income of natural persons, so a Florida resident’s prize is taxed only by the IRS.
- Draw-game prizes expire 180 days after the drawing, and the cash-or-annuity choice must be made within 60 days of claiming.
- Names of winners of $250,000 or more are exempt from public release for 90 days after the claim, then become public record.
Florida sources
- Florida Constitution Art. VII § 5 — Florida Legislature
- Winner’s Guide — Florida Lottery †
Agency: Florida Department of Revenue. † read through a browser session (why). How the math works.