$5 million lottery after taxes in Texas
A $5 million jackpot in Texas is about $1,638,000 after tax as a lump sum (the 52% cash value, taxed), or $3,150,000 total over the 30-year annuity. Texas doesn't tax lottery winnings. Compare both below.
📅 Updated for the 2026 tax year · built from primary IRS & state sources
Tax breakdown
Texas does not tax lottery winnings. Federal shown at the top 37% rate; 24% is withheld up front.
How a $5 million jackpot is taxed in Texas
Federal shown at the top 37% rate (24% withheld up front). Cash value varies by drawing. State rules are lottery-specific and exclude city taxes.
Frequently asked questions
How much is a $5 million jackpot after taxes in Texas?
As a lump sum, about $1,638,000 (the 52% cash value of $2,600,000, less 37% federal tax). As a 30-year annuity, about $3,150,000 total, or $105,000/year.
Should I take the lump sum or annuity on $5 million?
The lump sum gives you $1,638,000 now to invest; the annuity pays $105,000/year after tax for 30 years ($3,150,000 total). The annuity yields more headline dollars and spreads tax, but the lump sum offers control — it depends on your investing discipline.
Does Texas tax lottery winnings?
No — Texas does not tax lottery winnings. You'd still owe 37% federal tax.
Other jackpots
$5 million jackpot in other states
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