Lottery Net Payout Calculator
Calculate lottery prize tax and net payout amount.
세금 상세
결과 공유
Overview
The Lottery Payout Tax Calculator computes income tax and local income tax on lottery winnings and shows your actual take-home amount. Tax rates vary by prize size: 22% for amounts up to KRW 300 million and 33% for amounts exceeding KRW 300 million. It applies to Lotto, pension lottery, sports betting, and other lottery products.
Formula
Lottery Tax Calculation: • Up to KRW 50,000: Tax-free • Over KRW 50,000 to KRW 300M: 22% (20% income tax + 2% local income tax) • Over KRW 300M: 33% (30% income tax + 3% local income tax) Net Payout = Prize − Tax Example: KRW 1 billion prize → KRW 300M × 22% + KRW 700M × 33% = KRW 66M + KRW 231M = KRW 297M tax → Net payout approx. KRW 703M
How to Use
- 1Select the lottery type (Lotto, pension lottery, sports betting, etc.).
- 2Enter the total prize amount.
- 3Tax (income tax + local income tax) is calculated automatically.
- 4The net payout after tax deduction is displayed.
Tips
- ✔Small prizes of KRW 50,000 or less are tax-exempt.
- ✔Tax is withheld at source when you collect your prize, so you receive the after-tax amount directly.
- ✔Lotto first-prize amounts vary weekly depending on total sales and the number of winners.
FAQ
Q. What are the tax rates on lottery winnings?
Prizes up to KRW 50,000 are tax-free. Prizes over KRW 50,000 up to KRW 300 million are taxed at 22% (20% income tax + 2% local). Amounts exceeding KRW 300 million are taxed at 33% (30% + 3%). The rates apply per bracket, not on the entire amount.
Q. Are prizes under KRW 50,000 really tax-free?
Yes, under the Income Tax Act, lottery prizes of KRW 50,000 or less per ticket are exempt from tax. Lotto 5th prize (KRW 5,000) and 4th prize (KRW 50,000) can be collected in full without any deduction.
Q. Does the same tax rate apply to pension lottery winnings?
Yes, pension lottery winnings are taxed at the same rates. For the 1st prize of KRW 7 million per month for 20 years, 22% tax is deducted from each monthly payment, resulting in approximately KRW 5.46 million received per month.
Q. Do I need to file a separate tax return for lottery winnings?
No. Lottery winnings are subject to separate taxation, and the tax obligation is completed through withholding at the source. You do not need to include them in your comprehensive income tax return. The tax burden is applied independently from other income.
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