Wyoming Lottery

WYLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat May 25, 2024 is estimated to be $120 Million, with a cash option of 56.4 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 Sat May 25, 2024

Draw Date Jackpot Cash Option
Sat May 25, 2024$120,000,000$56,400,000

Lumpsum Option Taxes and Payment

Category Amount
Cash Gross Payment$56,400,000
Federal Tax(24%)$13,536,000
Additional Federal Tax$7,292,330
State Tax(0%)$0
Net Lumpsum Payment$35,571,670

Annuity Payment in 30 Installations

Year Gross Payment Fed/State Tax Net Payment
1 $1,806,120 -$628,595
-$0
$1,177,525
2 $1,896,480 -$662,028
-$0
$1,234,452
3 $1,991,280 -$697,104
-$0
$1,294,176
4 $2,090,880 -$733,956
-$0
$1,356,924
5 $2,195,400 -$772,628
-$0
$1,422,772
6 $2,305,200 -$813,254
-$0
$1,491,946
7 $2,420,400 -$855,878
-$0
$1,564,522
8 $2,541,480 -$900,678
-$0
$1,640,802
9 $2,668,560 -$947,698
-$0
$1,720,862
10 $2,802,000 -$997,070
-$0
$1,804,930
11 $2,942,040 -$1,048,885
-$0
$1,893,155
12 $3,089,160 -$1,103,320
-$0
$1,985,840
13 $3,243,600 -$1,160,462
-$0
$2,083,138
14 $3,405,840 -$1,220,491
-$0
$2,185,349
15 $3,576,120 -$1,283,495
-$0
$2,292,625
16 $3,754,920 -$1,349,651
-$0
$2,405,269
17 $3,942,600 -$1,419,092
-$0
$2,523,508
18 $4,139,760 -$1,492,042
-$0
$2,647,718
19 $4,346,760 -$1,568,632
-$0
$2,778,128
20 $4,564,080 -$1,649,040
-$0
$2,915,040
21 $4,792,320 -$1,733,489
-$0
$3,058,831
22 $5,031,960 -$1,822,156
-$0
$3,209,804
23 $5,283,480 -$1,915,218
-$0
$3,368,262
24 $5,547,720 -$2,012,987
-$0
$3,534,733
25 $5,825,040 -$2,115,595
-$0
$3,709,445
26 $6,116,400 -$2,223,398
-$0
$3,893,002
27 $6,422,160 -$2,336,530
-$0
$4,085,630
28 $6,743,280 -$2,455,344
-$0
$4,287,936
29 $7,080,480 -$2,580,108
-$0
$4,500,372
30 $7,434,480 -$2,711,088
-$0
$4,723,392
Cash Option: $56.4 Million
Next Draw: Sat May 25
Powerball
Wed May 22, 2024
051618266704

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