Wyoming Lottery

WYLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Dec 7, 2024 is estimated to be $260 Million, with a cash option of 123 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 Dec 7, 2024

Draw Date	Jackpot	Cash Option
Sat Dec 7, 2024	$260,000,000	$123,000,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$123,000,000
Federal Tax(24%)	$29,520,000
Additional Federal Tax	$15,950,330
State Tax(0%)	$0
Net Lumpsum Payment	$77,529,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,913,260	-$1,408,237 -$0	$2,505,023
2	$4,109,040	-$1,480,675 -$0	$2,628,365
3	$4,314,440	-$1,556,673 -$0	$2,757,767
4	$4,530,240	-$1,636,519 -$0	$2,893,721
5	$4,756,700	-$1,720,309 -$0	$3,036,391
6	$4,994,600	-$1,808,332 -$0	$3,186,268
7	$5,244,200	-$1,900,684 -$0	$3,343,516
8	$5,506,540	-$1,997,750 -$0	$3,508,790
9	$5,781,880	-$2,099,626 -$0	$3,682,254
10	$6,071,000	-$2,206,600 -$0	$3,864,400
11	$6,374,420	-$2,318,866 -$0	$4,055,554
12	$6,693,180	-$2,436,807 -$0	$4,256,373
13	$7,027,800	-$2,560,616 -$0	$4,467,184
14	$7,379,320	-$2,690,679 -$0	$4,688,641
15	$7,748,260	-$2,827,187 -$0	$4,921,073
16	$8,135,660	-$2,970,525 -$0	$5,165,135
17	$8,542,300	-$3,120,981 -$0	$5,421,319
18	$8,969,480	-$3,279,038 -$0	$5,690,442
19	$9,417,980	-$3,444,983 -$0	$5,972,997
20	$9,888,840	-$3,619,201 -$0	$6,269,639
21	$10,383,360	-$3,802,174 -$0	$6,581,186
22	$10,902,580	-$3,994,285 -$0	$6,908,295
23	$11,447,540	-$4,195,920 -$0	$7,251,620
24	$12,020,060	-$4,407,753 -$0	$7,612,307
25	$12,620,920	-$4,630,071 -$0	$7,990,849
26	$13,252,200	-$4,863,644 -$0	$8,388,556
27	$13,914,680	-$5,108,762 -$0	$8,805,918
28	$14,610,440	-$5,366,193 -$0	$9,244,247
29	$15,341,040	-$5,636,515 -$0	$9,704,525
30	$16,108,040	-$5,920,305 -$0	$10,187,735