Wyoming Lottery

WYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jan 3, 2025 is estimated to be $42 Million, with a cash option of 18.8 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 Jan 3, 2025

Draw Date	Jackpot	Cash Option
Fri Jan 3, 2025	$42,000,000	$18,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$18,800,000
Federal Tax(24%)	$4,512,000
Additional Federal Tax	$2,404,330
State Tax(0%)	$0
Net Lumpsum Payment	$11,883,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$632,142	-$194,223 -$0	$437,919
2	$663,768	-$205,925 -$0	$457,843
3	$696,948	-$218,201 -$0	$478,747
4	$731,808	-$231,099 -$0	$500,709
5	$768,390	-$244,635 -$0	$523,755
6	$806,820	-$258,854 -$0	$547,966
7	$847,140	-$273,772 -$0	$573,368
8	$889,518	-$289,452 -$0	$600,066
9	$933,996	-$305,909 -$0	$628,087
10	$980,700	-$323,189 -$0	$657,511
11	$1,029,714	-$341,325 -$0	$688,389
12	$1,081,206	-$360,377 -$0	$720,829
13	$1,135,260	-$380,377 -$0	$754,883
14	$1,192,044	-$401,387 -$0	$790,657
15	$1,251,642	-$423,438 -$0	$828,204
16	$1,314,222	-$446,593 -$0	$867,629
17	$1,379,910	-$470,897 -$0	$909,013
18	$1,448,916	-$496,429 -$0	$952,487
19	$1,521,366	-$523,236 -$0	$998,130
20	$1,597,428	-$551,379 -$0	$1,046,049
21	$1,677,312	-$580,936 -$0	$1,096,376
22	$1,761,186	-$611,969 -$0	$1,149,217
23	$1,849,218	-$644,541 -$0	$1,204,677
24	$1,941,702	-$678,760 -$0	$1,262,942
25	$2,038,764	-$714,673 -$0	$1,324,091
26	$2,140,740	-$752,404 -$0	$1,388,336
27	$2,247,756	-$792,000 -$0	$1,455,756
28	$2,360,148	-$833,585 -$0	$1,526,563
29	$2,478,168	-$877,253 -$0	$1,600,915
30	$2,602,068	-$923,096 -$0	$1,678,972