Wyoming Lottery

WYLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Jan 4, 2025 is estimated to be $200 Million, with a cash option of 90.7 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 Jan 4, 2025

Draw Date	Jackpot	Cash Option
Sat Jan 4, 2025	$200,000,000	$90,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$90,700,000
Federal Tax(24%)	$21,768,000
Additional Federal Tax	$11,751,330
State Tax(0%)	$0
Net Lumpsum Payment	$57,180,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,010,200	-$1,074,104 -$0	$1,936,096
2	$3,160,800	-$1,129,826 -$0	$2,030,974
3	$3,318,800	-$1,188,286 -$0	$2,130,514
4	$3,484,800	-$1,249,706 -$0	$2,235,094
5	$3,659,000	-$1,314,160 -$0	$2,344,840
6	$3,842,000	-$1,381,870 -$0	$2,460,130
7	$4,034,000	-$1,452,910 -$0	$2,581,090
8	$4,235,800	-$1,527,576 -$0	$2,708,224
9	$4,447,600	-$1,605,942 -$0	$2,841,658
10	$4,670,000	-$1,688,230 -$0	$2,981,770
11	$4,903,400	-$1,774,588 -$0	$3,128,812
12	$5,148,600	-$1,865,312 -$0	$3,283,288
13	$5,406,000	-$1,960,550 -$0	$3,445,450
14	$5,676,400	-$2,060,598 -$0	$3,615,802
15	$5,960,200	-$2,165,604 -$0	$3,794,596
16	$6,258,200	-$2,275,864 -$0	$3,982,336
17	$6,571,000	-$2,391,600 -$0	$4,179,400
18	$6,899,600	-$2,513,182 -$0	$4,386,418
19	$7,244,600	-$2,640,832 -$0	$4,603,768
20	$7,606,800	-$2,774,846 -$0	$4,831,954
21	$7,987,200	-$2,915,594 -$0	$5,071,606
22	$8,386,600	-$3,063,372 -$0	$5,323,228
23	$8,805,800	-$3,218,476 -$0	$5,587,324
24	$9,246,200	-$3,381,424 -$0	$5,864,776
25	$9,708,400	-$3,552,438 -$0	$6,155,962
26	$10,194,000	-$3,732,110 -$0	$6,461,890
27	$10,703,600	-$3,920,662 -$0	$6,782,938
28	$11,238,800	-$4,118,686 -$0	$7,120,114
29	$11,800,800	-$4,326,626 -$0	$7,474,174
30	$12,390,800	-$4,544,926 -$0	$7,845,874