Wyoming Lottery

WYLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Jan 13, 2025 is estimated to be $285 Million, with a cash option of 124.9 Million. If you win the Powerball 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 Powerball Jackpot/Cash Option for Mon Jan 13, 2025

Draw Date	Jackpot	Cash Option
Mon Jan 13, 2025	$285,000,000	$124,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$124,900,000
Federal Tax(24%)	$29,976,000
Additional Federal Tax	$16,197,330
State Tax(0%)	$0
Net Lumpsum Payment	$78,726,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,289,535	-$1,547,458 -$0	$2,742,077
2	$4,504,140	-$1,626,862 -$0	$2,877,278
3	$4,729,290	-$1,710,168 -$0	$3,019,122
4	$4,965,840	-$1,797,691 -$0	$3,168,149
5	$5,214,075	-$1,889,538 -$0	$3,324,537
6	$5,474,850	-$1,986,025 -$0	$3,488,825
7	$5,748,450	-$2,087,257 -$0	$3,661,193
8	$6,036,015	-$2,193,656 -$0	$3,842,359
9	$6,337,830	-$2,305,327 -$0	$4,032,503
10	$6,654,750	-$2,422,588 -$0	$4,232,162
11	$6,987,345	-$2,545,648 -$0	$4,441,697
12	$7,336,755	-$2,674,930 -$0	$4,661,825
13	$7,703,550	-$2,810,644 -$0	$4,892,906
14	$8,088,870	-$2,953,212 -$0	$5,135,658
15	$8,493,285	-$3,102,846 -$0	$5,390,439
16	$8,917,935	-$3,259,966 -$0	$5,657,969
17	$9,363,675	-$3,424,890 -$0	$5,938,785
18	$9,831,930	-$3,598,144 -$0	$6,233,786
19	$10,323,555	-$3,780,046 -$0	$6,543,509
20	$10,839,690	-$3,971,016 -$0	$6,868,674
21	$11,381,760	-$4,171,582 -$0	$7,210,178
22	$11,950,905	-$4,382,165 -$0	$7,568,740
23	$12,548,265	-$4,603,188 -$0	$7,945,077
24	$13,175,835	-$4,835,389 -$0	$8,340,446
25	$13,834,470	-$5,079,084 -$0	$8,755,386
26	$14,526,450	-$5,335,117 -$0	$9,191,333
27	$15,252,630	-$5,603,803 -$0	$9,648,827
28	$16,015,290	-$5,885,988 -$0	$10,129,302
29	$16,816,140	-$6,182,302 -$0	$10,633,838
30	$17,656,890	-$6,493,380 -$0	$11,163,510