Wyoming Lottery

WYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Feb 7, 2025 is estimated to be $94 Million, with a cash option of 42.3 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 MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Wyoming MEGA Millions Jackpot/Cash Option for Fri Feb 7, 2025

Draw Date	Jackpot	Cash Option
Fri Feb 7, 2025	$94,000,000	$42,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$42,300,000
Federal Tax(24%)	$10,152,000
Additional Federal Tax	$5,459,330
State Tax(0%)	$0
Net Lumpsum Payment	$26,688,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,414,794	-$483,804 -$0	$930,990
2	$1,485,576	-$509,994 -$0	$975,582
3	$1,559,836	-$537,470 -$0	$1,022,366
4	$1,637,856	-$566,337 -$0	$1,071,519
5	$1,719,730	-$596,630 -$0	$1,123,100
6	$1,805,740	-$628,454 -$0	$1,177,286
7	$1,895,980	-$661,843 -$0	$1,234,137
8	$1,990,826	-$696,936 -$0	$1,293,890
9	$2,090,372	-$733,768 -$0	$1,356,604
10	$2,194,900	-$772,443 -$0	$1,422,457
11	$2,304,598	-$813,032 -$0	$1,491,566
12	$2,419,842	-$855,672 -$0	$1,564,170
13	$2,540,820	-$900,434 -$0	$1,640,386
14	$2,667,908	-$947,456 -$0	$1,720,452
15	$2,801,294	-$996,809 -$0	$1,804,485
16	$2,941,354	-$1,048,631 -$0	$1,892,723
17	$3,088,370	-$1,103,027 -$0	$1,985,343
18	$3,242,812	-$1,160,171 -$0	$2,082,641
19	$3,404,962	-$1,220,166 -$0	$2,184,796
20	$3,575,196	-$1,283,153 -$0	$2,292,043
21	$3,753,984	-$1,349,304 -$0	$2,404,680
22	$3,941,702	-$1,418,760 -$0	$2,522,942
23	$4,138,726	-$1,491,659 -$0	$2,647,067
24	$4,345,714	-$1,568,245 -$0	$2,777,469
25	$4,562,948	-$1,648,621 -$0	$2,914,327
26	$4,791,180	-$1,733,067 -$0	$3,058,113
27	$5,030,692	-$1,821,686 -$0	$3,209,006
28	$5,282,236	-$1,914,758 -$0	$3,367,478
29	$5,546,376	-$2,012,490 -$0	$3,533,886
30	$5,823,676	-$2,115,091 -$0	$3,708,585