Wyoming Lottery

WYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Feb 27, 2024 is estimated to be $563 Million, with a cash option of 265.4 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 Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Wyoming MEGA Millions Jackpot/Cash Option for Tue Feb 27, 2024

Draw Date Jackpot Cash Option
Tue Feb 27, 2024$563,000,000$265,400,000

Lumpsum Option Taxes and Payment

Category Amount
Cash Gross Payment$265,400,000
Federal Tax(24%)$63,696,000
Additional Federal Tax$34,462,330
State Tax(0%)$0
Net Lumpsum Payment$167,241,670

Annuity Payment in 30 Installations

Year Gross Payment Fed/State Tax Net Payment
1 $8,473,713 -$3,095,604
-$0
$5,378,109
2 $8,897,652 -$3,252,462
-$0
$5,645,190
3 $9,342,422 -$3,417,027
-$0
$5,925,395
4 $9,809,712 -$3,589,924
-$0
$6,219,788
5 $10,300,085 -$3,771,362
-$0
$6,528,723
6 $10,815,230 -$3,961,965
-$0
$6,853,265
7 $11,355,710 -$4,161,943
-$0
$7,193,767
8 $11,923,777 -$4,372,128
-$0
$7,551,649
9 $12,519,994 -$4,592,728
-$0
$7,927,266
10 $13,146,050 -$4,824,369
-$0
$8,321,681
11 $13,803,071 -$5,067,467
-$0
$8,735,604
12 $14,493,309 -$5,322,855
-$0
$9,170,454
13 $15,217,890 -$5,590,950
-$0
$9,626,940
14 $15,979,066 -$5,872,585
-$0
$10,106,481
15 $16,777,963 -$6,168,177
-$0
$10,609,786
16 $17,616,833 -$6,478,559
-$0
$11,138,274
17 $18,497,365 -$6,804,355
-$0
$11,693,010
18 $19,422,374 -$7,146,609
-$0
$12,275,765
19 $20,393,549 -$7,505,944
-$0
$12,887,605
20 $21,413,142 -$7,883,193
-$0
$13,529,949
21 $22,483,968 -$8,279,399
-$0
$14,204,569
22 $23,608,279 -$8,695,394
-$0
$14,912,885
23 $24,788,327 -$9,132,011
-$0
$15,656,316
24 $26,028,053 -$9,590,710
-$0
$16,437,343
25 $27,329,146 -$10,072,114
-$0
$17,257,032
26 $28,696,110 -$10,577,891
-$0
$18,118,219
27 $30,130,634 -$11,108,665
-$0
$19,021,969
28 $31,637,222 -$11,666,103
-$0
$19,971,119
29 $33,219,252 -$12,251,454
-$0
$20,967,798
30 $34,880,102 -$12,865,968
-$0
$22,014,134
Cash Option: $265.4 Million
Next Draw: Tue Feb 27
Mega Millions
Fri Feb 23, 2024
040640416011

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