Wyoming Lottery

WYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Dec 13, 2024 is estimated to be $670 Million, with a cash option of 317.8 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 MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Wyoming MEGA Millions Jackpot/Cash Option for Fri Dec 13, 2024

Draw Date	Jackpot	Cash Option
Fri Dec 13, 2024	$670,000,000	$317,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$317,800,000
Federal Tax(24%)	$76,272,000
Additional Federal Tax	$41,274,330
State Tax(0%)	$0
Net Lumpsum Payment	$200,253,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$10,084,170	-$3,691,473 -$0	$6,392,697
2	$10,588,680	-$3,878,142 -$0	$6,710,538
3	$11,117,980	-$4,073,983 -$0	$7,043,997
4	$11,674,080	-$4,279,740 -$0	$7,394,340
5	$12,257,650	-$4,495,661 -$0	$7,761,989
6	$12,870,700	-$4,722,489 -$0	$8,148,211
7	$13,513,900	-$4,960,473 -$0	$8,553,427
8	$14,189,930	-$5,210,604 -$0	$8,979,326
9	$14,899,460	-$5,473,131 -$0	$9,426,329
10	$15,644,500	-$5,748,795 -$0	$9,895,705
11	$16,426,390	-$6,038,095 -$0	$10,388,295
12	$17,247,810	-$6,342,020 -$0	$10,905,790
13	$18,110,100	-$6,661,067 -$0	$11,449,033
14	$19,015,940	-$6,996,228 -$0	$12,019,712
15	$19,966,670	-$7,347,998 -$0	$12,618,672
16	$20,964,970	-$7,717,369 -$0	$13,247,601
17	$22,012,850	-$8,105,085 -$0	$13,907,765
18	$23,113,660	-$8,512,385 -$0	$14,601,275
19	$24,269,410	-$8,940,012 -$0	$15,329,398
20	$25,482,780	-$9,388,959 -$0	$16,093,821
21	$26,757,120	-$9,860,465 -$0	$16,896,655
22	$28,095,110	-$10,355,521 -$0	$17,739,589
23	$29,499,430	-$10,875,119 -$0	$18,624,311
24	$30,974,770	-$11,420,995 -$0	$19,553,775
25	$32,523,140	-$11,993,892 -$0	$20,529,248
26	$34,149,900	-$12,595,793 -$0	$21,554,107
27	$35,857,060	-$13,227,443 -$0	$22,629,617
28	$37,649,980	-$13,890,823 -$0	$23,759,157
29	$39,532,680	-$14,587,422 -$0	$24,945,258
30	$41,509,180	-$15,318,727 -$0	$26,190,453