Wyoming Lottery

WYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Dec 8, 2023 is estimated to be $395 Million, with a cash option of 188.2 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. The good news is that if you're a resident of Wyoming, you won't owe any state tax on your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Wyoming MEGA Millions Jackpot/Cash Option for Fri Dec 8, 2023

Draw Date	Jackpot	Cash Option
Fri Dec 8, 2023	$395,000,000	$188,200,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$188,200,000
Federal Tax(24%)	$45,168,000
Additional Federal Tax	$24,426,330
State Tax(0%)	$0
Net Lumpsum Payment	$118,605,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,945,145	-$2,160,034 -$0	$3,785,111
2	$6,242,580	-$2,270,085 -$0	$3,972,495
3	$6,554,630	-$2,385,543 -$0	$4,169,087
4	$6,882,480	-$2,506,848 -$0	$4,375,632
5	$7,226,525	-$2,634,145 -$0	$4,592,380
6	$7,587,950	-$2,767,872 -$0	$4,820,078
7	$7,967,150	-$2,908,176 -$0	$5,058,974
8	$8,365,705	-$3,055,641 -$0	$5,310,064
9	$8,784,010	-$3,210,414 -$0	$5,573,596
10	$9,223,250	-$3,372,933 -$0	$5,850,317
11	$9,684,215	-$3,543,490 -$0	$6,140,725
12	$10,168,485	-$3,722,670 -$0	$6,445,815
13	$10,676,850	-$3,910,765 -$0	$6,766,085
14	$11,210,890	-$4,108,360 -$0	$7,102,530
15	$11,771,395	-$4,315,747 -$0	$7,455,648
16	$12,359,945	-$4,533,510 -$0	$7,826,435
17	$12,977,725	-$4,762,089 -$0	$8,215,636
18	$13,626,710	-$5,002,213 -$0	$8,624,497
19	$14,308,085	-$5,254,322 -$0	$9,053,763
20	$15,023,430	-$5,518,999 -$0	$9,504,431
21	$15,774,720	-$5,796,977 -$0	$9,977,743
22	$16,563,535	-$6,088,838 -$0	$10,474,697
23	$17,391,455	-$6,395,169 -$0	$10,996,286
24	$18,261,245	-$6,716,991 -$0	$11,544,254
25	$19,174,090	-$7,054,744 -$0	$12,119,346
26	$20,133,150	-$7,409,596 -$0	$12,723,554
27	$21,139,610	-$7,781,986 -$0	$13,357,624
28	$22,196,630	-$8,173,083 -$0	$14,023,547
29	$23,306,580	-$8,583,765 -$0	$14,722,815
30	$24,471,830	-$9,014,907 -$0	$15,456,923