Wyoming Lottery

WYLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Dec 11, 2024 is estimated to be $30 Million, with a cash option of 14.5 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 Wed Dec 11, 2024

Draw Date	Jackpot	Cash Option
Wed Dec 11, 2024	$30,000,000	$14,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$14,500,000
Federal Tax(24%)	$3,480,000
Additional Federal Tax	$1,845,330
State Tax(0%)	$0
Net Lumpsum Payment	$9,174,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$451,530	-$127,396 -$0	$324,134
2	$474,120	-$135,755 -$0	$338,365
3	$497,820	-$144,524 -$0	$353,296
4	$522,720	-$153,737 -$0	$368,983
5	$548,850	-$163,405 -$0	$385,445
6	$576,300	-$173,561 -$0	$402,739
7	$605,100	-$184,217 -$0	$420,883
8	$635,370	-$195,417 -$0	$439,953
9	$667,140	-$207,172 -$0	$459,968
10	$700,500	-$219,515 -$0	$480,985
11	$735,510	-$232,469 -$0	$503,041
12	$772,290	-$246,078 -$0	$526,212
13	$810,900	-$260,363 -$0	$550,537
14	$851,460	-$275,371 -$0	$576,089
15	$894,030	-$291,121 -$0	$602,909
16	$938,730	-$307,660 -$0	$631,070
17	$985,650	-$325,021 -$0	$660,629
18	$1,034,940	-$343,258 -$0	$691,682
19	$1,086,690	-$362,406 -$0	$724,284
20	$1,141,020	-$382,508 -$0	$758,512
21	$1,198,080	-$403,620 -$0	$794,460
22	$1,257,990	-$425,787 -$0	$832,203
23	$1,320,870	-$449,052 -$0	$871,818
24	$1,386,930	-$473,494 -$0	$913,436
25	$1,456,260	-$499,147 -$0	$957,113
26	$1,529,100	-$526,097 -$0	$1,003,003
27	$1,605,540	-$554,380 -$0	$1,051,160
28	$1,685,820	-$584,084 -$0	$1,101,736
29	$1,770,120	-$615,275 -$0	$1,154,845
30	$1,858,620	-$648,020 -$0	$1,210,600