Korea Lottery Prize Tax Calculator

How to use Korea Lottery Prize Tax Calculator

Calculates how much of a Korean lottery prize you actually receive after income tax and local income tax.

Prizes up to KRW 2 million are tax-free; the portion up to 300 million is taxed at 22% and the excess at 33%, after deducting the winning ticket cost.

• Enter the prize or tap an example such as 50,000, 1.5 million or 2 billion.
• Change the winning ticket cost in advanced settings if needed.
• Review the estimated net prize, total tax and effective rate.

Useful for

• Seeing what a Lotto 6/45 jackpot pays after tax
• Checking the tax withheld from a large instant lottery prize

Limits and checks

• Only the KRW 1,000 cost of the winning game is deductible, not losing tickets bought together.
• Lottery prizes are taxed separately and are not added to the annual income tax return.

Worked example

KRW 2 billion Lotto jackpot

Prize: 2,000,000,000
Winning ticket cost: 1,000

Only the 1,000 won cost of the winning game counts as an expense.

Lottery tax result

Total tax: 626,999,670
Effective rate: 31.35%
Estimated net prize: 1,373,000,330

Income tax and local income tax are each truncated below ten won.

Common issues

A 1.5 million prize shows no tax

Prizes of KRW 2 million or less per ticket are tax-free. Above that, tax applies to the whole prize minus the ticket cost.

The effective rate is below 33%

Only the portion above 300 million is taxed at 33% and the first 300 million at 22%, so the blended rate falls in between.

How to interpret the result

Plan repayments or deposits from the net amount and consult a tax professional before big decisions.

Related workflow

Estimate interest on the deposited prize with the deposit and savings interest calculator.

Privacy and review notes

The prize amount is calculated in your browser and kept only in the page address for sharing; ToolBada does not receive it.

Basis and limitations

Basis

• The tool applies user-entered amounts, periods, rates, and selected conditions to the calculation described on the page.
• The displayed result is a reference estimate based on that tool's formula and stated input assumptions.

Limitations

• Actual tax rules, deductions, exchange rates, fees, institution policies, and market prices can change by date and personal case.
• Do not use the output as the final basis for filing, investing, borrowing, contracting, salary negotiation, or legal commitments.

Official check

• Before filing or making financial decisions, verify with official agencies, financial institutions, exchanges, or qualified experts.

References and methodology

• Official external source: Dong Haeng Lottery prize payment guide — The official lottery operator site for prize payment offices, deadlines and withholding tax notices.
• Official external source: Korea National Tax Service — The official source for Korean national-tax rates, filing schedules, deductions, and calculators.
• Official external source: FSS Financial Consumer Information Portal — The Financial Supervisory Service portal for final checks on financial products and transactions.

Verification label: The build automatically checks risk classification, required evidence fields, and official-link format. This does not mean a licensed medical, legal, tax, or other professional individually reviewed the tool output.

FAQ

What does a KRW 2 billion jackpot pay after tax?

After the 1,000 won ticket cost, 22% up to 300 million and 33% above take 626,999,670 in tax, leaving about 1.373 billion.

What is the lottery tax rate in Korea?

Prizes are tax-free up to 2 million, taxed at 22% (20% income tax plus 2% local tax) up to 300 million and 33% above.

How much tax is due on a 50 million prize?

(50 million − 1,000) × 22% gives tax of 10,999,780, so you receive 39,000,220.