Wyoming Lottery

WYLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Dec 30, 2024 is estimated to be $163 Million, with a cash option of 73.9 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 Dec 30, 2024

Draw Date	Jackpot	Cash Option
Mon Dec 30, 2024	$163,000,000	$73,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$73,900,000
Federal Tax(24%)	$17,736,000
Additional Federal Tax	$9,567,330
State Tax(0%)	$0
Net Lumpsum Payment	$46,596,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,453,313	-$868,056 -$0	$1,585,257
2	$2,576,052	-$913,470 -$0	$1,662,582
3	$2,704,822	-$961,115 -$0	$1,743,707
4	$2,840,112	-$1,011,172 -$0	$1,828,940
5	$2,982,085	-$1,063,702 -$0	$1,918,383
6	$3,131,230	-$1,118,885 -$0	$2,012,345
7	$3,287,710	-$1,176,783 -$0	$2,110,927
8	$3,452,177	-$1,237,636 -$0	$2,214,541
9	$3,624,794	-$1,301,504 -$0	$2,323,290
10	$3,806,050	-$1,368,569 -$0	$2,437,481
11	$3,996,271	-$1,438,951 -$0	$2,557,320
12	$4,196,109	-$1,512,891 -$0	$2,683,218
13	$4,405,890	-$1,590,510 -$0	$2,815,380
14	$4,626,266	-$1,672,049 -$0	$2,954,217
15	$4,857,563	-$1,757,629 -$0	$3,099,934
16	$5,100,433	-$1,847,491 -$0	$3,252,942
17	$5,355,365	-$1,941,815 -$0	$3,413,550
18	$5,623,174	-$2,040,905 -$0	$3,582,269
19	$5,904,349	-$2,144,940 -$0	$3,759,409
20	$6,199,542	-$2,254,161 -$0	$3,945,381
21	$6,509,568	-$2,368,871 -$0	$4,140,697
22	$6,835,079	-$2,489,310 -$0	$4,345,769
23	$7,176,727	-$2,615,719 -$0	$4,561,008
24	$7,535,653	-$2,748,522 -$0	$4,787,131
25	$7,912,346	-$2,887,898 -$0	$5,024,448
26	$8,308,110	-$3,034,331 -$0	$5,273,779
27	$8,723,434	-$3,188,001 -$0	$5,535,433
28	$9,159,622	-$3,349,391 -$0	$5,810,231
29	$9,617,652	-$3,518,862 -$0	$6,098,790
30	$10,098,502	-$3,696,776 -$0	$6,401,726