This page will calculate approximate payouts for both cash and annuitized prizes for lotteries.
There are a few pieces of information that the process requires:
The amount of the total prize:
This can be either the annuitized prize or a one-time cash payout.
The number of annuitized payments:
If you know how many years your prize will be paid over, enter the number here.
Twenty-six (26) seems to be a popular number, so it is pre-filled for you.
If you are calculating a one-time payout, enter the number One (1).
The percentage of taxes that the lottery will withold from your prize:
This is a very difficult number to guess at.
The value of 31% has been pre-filled for you.
With any luck, the actual payout will be higher than the calculated value.
Looking at the query strings in the web logs, I find that a significant number of people are looking for the cash
payout amounts. I have added an estimated cash payout amount and an estimated cash take home amount.
The tax % witheld for the cash payout is now controlled by the value you enter in the tax percentage field.
Again, my numbers are just estimates, but I think they are close.