Florida gambling winnings tax calculator
Florida does not tax personal income, so gambling winnings face federal tax only. Enter your win and other income to estimate your federal tax and take-home.
Winnings
$50,000
before tax
Take-home
$38,936
after about 22.1% tax
Total tax
$11,064
Federal $11,064 + state $0
Tax breakdown
Your top federal rate on this win: 24%. The lottery withholds only 24%, so a large jackpot usually means a large bill on top.
An estimate for educational use, using 2026 US federal brackets and the standard deduction, with the win taxed as ordinary income on top of the income you enter. It ignores deductions, credits, the alternative minimum tax, local taxes you do not enter and trusts. Pools, gifts and estate tax change the picture. Talk to a tax professional before you claim a large prize.
How gambling winnings are taxed in the US
Gambling winnings are taxable income in the United States: lottery prizes, casino jackpots, sports bets, raffles and prize draws all count. There is no special rate. The winnings are added to your other income and taxed at your ordinary rates, from 10% up to 37%. Payers must report certain winnings to the IRS on Form W-2G and withhold 24% federal tax from large prizes, such as lottery and raffle winnings over $5,000. Smaller wins are still taxable even if no form is issued.
Most states also tax gambling winnings at their ordinary income rate. Some states, including Texas, Florida, Washington, Nevada, South Dakota, Tennessee, Wyoming, Alaska and New Hampshire, have no state tax on this kind of income.
What the calculator does
- 1Adds your winnings to the other income you enter.
- 2Applies the 2026 federal standard deduction and tax brackets for your filing status.
- 3Compares your real federal tax with the 24% that may have been withheld.
- 4Adds state tax at the rate you enter.
Estimate only. It ignores deductions, credits and other tax situations. Keep records of wins and losses and ask a tax professional.
Losses, records and common mistakes
- Gambling losses can be deducted only if you itemise, and only up to your winnings, with records to prove them. Recent tax legislation limits the deduction to 90% of losses starting with the 2026 tax year.
- Keep a log: date, game, place, amount won and lost, and any statements or tickets.
- Winnings paid in crypto are valued at the dollar value on the day you receive them.
- A win below the reporting threshold is still taxable income.
Prefer a lottery you can check?
CryptoDrawz: a weekly draw with 90% paid out.
$5 tickets paid in crypto. The winners come from a public random value, and every result is published so you can recompute it yourself. 18+ only.
Frequently asked questions
Does Florida tax gambling winnings?
No. Florida has no state income tax.
Does the IRS tax Florida lottery winnings?
Yes. Federal tax applies to all gambling winnings.
How much is withheld?
24% federal on large prizes, such as lottery or raffle wins over $5,000.
Can I deduct losses in Florida?
Federal rules apply. You must itemise, up to your winnings, with records, and the deduction is limited to 90% of losses from 2026.