Wyoming Lottery

WYLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Jun 22, 2024 is estimated to be $72 Million, with a cash option of 34.7 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 Jun 22, 2024

Draw Date Jackpot Cash Option
Sat Jun 22, 2024$72,000,000$34,700,000

Lumpsum Option Taxes and Payment

Category Amount
Cash Gross Payment$34,700,000
Federal Tax(24%)$8,328,000
Additional Federal Tax$4,471,330
State Tax(0%)$0
Net Lumpsum Payment$21,900,670

Annuity Payment in 30 Installations

Year Gross Payment Fed/State Tax Net Payment
1 $1,083,672 -$361,289
-$0
$722,383
2 $1,137,888 -$381,349
-$0
$756,539
3 $1,194,768 -$402,395
-$0
$792,373
4 $1,254,528 -$424,506
-$0
$830,022
5 $1,317,240 -$447,709
-$0
$869,531
6 $1,383,120 -$472,085
-$0
$911,035
7 $1,452,240 -$497,659
-$0
$954,581
8 $1,524,888 -$524,539
-$0
$1,000,349
9 $1,601,136 -$552,751
-$0
$1,048,385
10 $1,681,200 -$582,374
-$0
$1,098,826
11 $1,765,224 -$613,463
-$0
$1,151,761
12 $1,853,496 -$646,124
-$0
$1,207,372
13 $1,946,160 -$680,410
-$0
$1,265,750
14 $2,043,504 -$716,427
-$0
$1,327,077
15 $2,145,672 -$754,229
-$0
$1,391,443
16 $2,252,952 -$793,923
-$0
$1,459,029
17 $2,365,560 -$835,588
-$0
$1,529,972
18 $2,483,856 -$879,357
-$0
$1,604,499
19 $2,608,056 -$925,311
-$0
$1,682,745
20 $2,738,448 -$973,556
-$0
$1,764,892
21 $2,875,392 -$1,024,225
-$0
$1,851,167
22 $3,019,176 -$1,077,426
-$0
$1,941,750
23 $3,170,088 -$1,133,263
-$0
$2,036,825
24 $3,328,632 -$1,191,924
-$0
$2,136,708
25 $3,495,024 -$1,253,489
-$0
$2,241,535
26 $3,669,840 -$1,318,171
-$0
$2,351,669
27 $3,853,296 -$1,386,050
-$0
$2,467,246
28 $4,045,968 -$1,457,339
-$0
$2,588,629
29 $4,248,288 -$1,532,197
-$0
$2,716,091
30 $4,460,688 -$1,610,785
-$0
$2,849,903
Cash Option: $34.7 Million
Next Draw: Sat Jun 22
Powerball
Wed Jun 19, 2024
042744506407

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