Wyoming Lottery

WYLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed May 29, 2024 is estimated to be $143 Million, with a cash option of 66.8 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 May 29, 2024

Draw Date Jackpot Cash Option
Wed May 29, 2024$143,000,000$66,800,000

Lumpsum Option Taxes and Payment

Category Amount
Cash Gross Payment$66,800,000
Federal Tax(24%)$16,032,000
Additional Federal Tax$8,644,330
State Tax(0%)$0
Net Lumpsum Payment$42,123,670

Annuity Payment in 30 Installations

Year Gross Payment Fed/State Tax Net Payment
1 $2,152,293 -$756,679
-$0
$1,395,614
2 $2,259,972 -$796,520
-$0
$1,463,452
3 $2,372,942 -$838,319
-$0
$1,534,623
4 $2,491,632 -$882,234
-$0
$1,609,398
5 $2,616,185 -$928,319
-$0
$1,687,866
6 $2,747,030 -$976,731
-$0
$1,770,299
7 $2,884,310 -$1,027,525
-$0
$1,856,785
8 $3,028,597 -$1,080,911
-$0
$1,947,686
9 $3,180,034 -$1,136,943
-$0
$2,043,091
10 $3,339,050 -$1,195,779
-$0
$2,143,271
11 $3,505,931 -$1,257,525
-$0
$2,248,406
12 $3,681,249 -$1,322,393
-$0
$2,358,856
13 $3,865,290 -$1,390,488
-$0
$2,474,802
14 $4,058,626 -$1,462,022
-$0
$2,596,604
15 $4,261,543 -$1,537,101
-$0
$2,724,442
16 $4,474,613 -$1,615,937
-$0
$2,858,676
17 $4,698,265 -$1,698,688
-$0
$2,999,577
18 $4,933,214 -$1,785,620
-$0
$3,147,594
19 $5,179,889 -$1,876,889
-$0
$3,303,000
20 $5,438,862 -$1,972,709
-$0
$3,466,153
21 $5,710,848 -$2,073,344
-$0
$3,637,504
22 $5,996,419 -$2,179,005
-$0
$3,817,414
23 $6,296,147 -$2,289,905
-$0
$4,006,242
24 $6,611,033 -$2,406,413
-$0
$4,204,620
25 $6,941,506 -$2,528,688
-$0
$4,412,818
26 $7,288,710 -$2,657,153
-$0
$4,631,557
27 $7,653,074 -$2,791,968
-$0
$4,861,106
28 $8,035,742 -$2,933,555
-$0
$5,102,187
29 $8,437,572 -$3,082,232
-$0
$5,355,340
30 $8,859,422 -$3,238,317
-$0
$5,621,105
Cash Option: $66.8 Million
Next Draw: Wed May 29
Powerball
Mon May 27, 2024
093039495921

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