Wyoming Lottery

WYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Dec 5, 2023 is estimated to be $377 Million, with a cash option of 175.4 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 Tue Dec 5, 2023

Draw Date	Jackpot	Cash Option
Tue Dec 5, 2023	$377,000,000	$175,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$175,400,000
Federal Tax(24%)	$42,096,000
Additional Federal Tax	$22,762,330
State Tax(0%)	$0
Net Lumpsum Payment	$110,541,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,674,227	-$2,059,794 -$0	$3,614,433
2	$5,958,108	-$2,164,830 -$0	$3,793,278
3	$6,255,938	-$2,275,027 -$0	$3,980,911
4	$6,568,848	-$2,390,804 -$0	$4,178,044
5	$6,897,215	-$2,512,300 -$0	$4,384,915
6	$7,242,170	-$2,639,933 -$0	$4,602,237
7	$7,604,090	-$2,773,844 -$0	$4,830,246
8	$7,984,483	-$2,914,589 -$0	$5,069,894
9	$8,383,726	-$3,062,309 -$0	$5,321,417
10	$8,802,950	-$3,217,422 -$0	$5,585,528
11	$9,242,909	-$3,380,207 -$0	$5,862,702
12	$9,705,111	-$3,551,221 -$0	$6,153,890
13	$10,190,310	-$3,730,745 -$0	$6,459,565
14	$10,700,014	-$3,919,336 -$0	$6,780,678
15	$11,234,977	-$4,117,272 -$0	$7,117,705
16	$11,796,707	-$4,325,112 -$0	$7,471,595
17	$12,386,335	-$4,543,274 -$0	$7,843,061
18	$13,005,746	-$4,772,456 -$0	$8,233,290
19	$13,656,071	-$5,013,077 -$0	$8,642,994
20	$14,338,818	-$5,265,693 -$0	$9,073,125
21	$15,055,872	-$5,531,003 -$0	$9,524,869
22	$15,808,741	-$5,809,565 -$0	$9,999,176
23	$16,598,933	-$6,101,936 -$0	$10,496,997
24	$17,429,087	-$6,409,093 -$0	$11,019,994
25	$18,300,334	-$6,731,454 -$0	$11,568,880
26	$19,215,690	-$7,070,136 -$0	$12,145,554
27	$20,176,286	-$7,425,556 -$0	$12,750,730
28	$21,185,138	-$7,798,831 -$0	$13,386,307
29	$22,244,508	-$8,190,798 -$0	$14,053,710
30	$23,356,658	-$8,602,294 -$0	$14,754,364