Wyoming Lottery

WYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue May 28, 2024 is estimated to be $489 Million, with a cash option of 226.4 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 May 28, 2024

Draw Date Jackpot Cash Option
Tue May 28, 2024$489,000,000$226,400,000

Lumpsum Option Taxes and Payment

Category Amount
Cash Gross Payment$226,400,000
Federal Tax(24%)$54,336,000
Additional Federal Tax$29,392,330
State Tax(0%)$0
Net Lumpsum Payment$142,671,670

Annuity Payment in 30 Installations

Year Gross Payment Fed/State Tax Net Payment
1 $7,359,939 -$2,683,508
-$0
$4,676,431
2 $7,728,156 -$2,819,748
-$0
$4,908,408
3 $8,114,466 -$2,962,683
-$0
$5,151,783
4 $8,520,336 -$3,112,855
-$0
$5,407,481
5 $8,946,255 -$3,270,445
-$0
$5,675,810
6 $9,393,690 -$3,435,996
-$0
$5,957,694
7 $9,863,130 -$3,609,688
-$0
$6,253,442
8 $10,356,531 -$3,792,247
-$0
$6,564,284
9 $10,874,382 -$3,983,852
-$0
$6,890,530
10 $11,418,150 -$4,185,046
-$0
$7,233,104
11 $11,988,813 -$4,396,191
-$0
$7,592,622
12 $12,588,327 -$4,618,011
-$0
$7,970,316
13 $13,217,670 -$4,850,868
-$0
$8,366,802
14 $13,878,798 -$5,095,486
-$0
$8,783,312
15 $14,572,689 -$5,352,225
-$0
$9,220,464
16 $15,301,299 -$5,621,811
-$0
$9,679,488
17 $16,066,095 -$5,904,786
-$0
$10,161,309
18 $16,869,522 -$6,202,054
-$0
$10,667,468
19 $17,713,047 -$6,514,158
-$0
$11,198,889
20 $18,598,626 -$6,841,822
-$0
$11,756,804
21 $19,528,704 -$7,185,951
-$0
$12,342,753
22 $20,505,237 -$7,547,268
-$0
$12,957,969
23 $21,530,181 -$7,926,497
-$0
$13,603,684
24 $22,606,959 -$8,324,905
-$0
$14,282,054
25 $23,737,038 -$8,743,034
-$0
$14,994,004
26 $24,924,330 -$9,182,332
-$0
$15,741,998
27 $26,170,302 -$9,643,342
-$0
$16,526,960
28 $27,478,866 -$10,127,511
-$0
$17,351,355
29 $28,852,956 -$10,635,924
-$0
$18,217,032
30 $30,295,506 -$11,169,668
-$0
$19,125,838
Cash Option: $226.4 Million
Next Draw: Tue May 28
Mega Millions
Fri May 24, 2024
465456677016

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