Wyoming Lottery

WYLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Oct 12, 2024 is estimated to be $364 Million, with a cash option of 179 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 Oct 12, 2024

Draw Date	Jackpot	Cash Option
Sat Oct 12, 2024	$364,000,000	$179,000,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$179,000,000
Federal Tax(24%)	$42,960,000
Additional Federal Tax	$23,230,330
State Tax(0%)	$0
Net Lumpsum Payment	$112,809,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,478,564	-$1,987,399 -$0	$3,491,165
2	$5,752,656	-$2,088,813 -$0	$3,663,843
3	$6,040,216	-$2,195,210 -$0	$3,845,006
4	$6,342,336	-$2,306,995 -$0	$4,035,341
5	$6,659,380	-$2,424,301 -$0	$4,235,079
6	$6,992,440	-$2,547,533 -$0	$4,444,907
7	$7,341,880	-$2,676,826 -$0	$4,665,054
8	$7,709,156	-$2,812,718 -$0	$4,896,438
9	$8,094,632	-$2,955,344 -$0	$5,139,288
10	$8,499,400	-$3,105,108 -$0	$5,394,292
11	$8,924,188	-$3,262,280 -$0	$5,661,908
12	$9,370,452	-$3,427,398 -$0	$5,943,054
13	$9,838,920	-$3,600,731 -$0	$6,238,189
14	$10,331,048	-$3,782,818 -$0	$6,548,230
15	$10,847,564	-$3,973,929 -$0	$6,873,635
16	$11,389,924	-$4,174,602 -$0	$7,215,322
17	$11,959,220	-$4,385,242 -$0	$7,573,978
18	$12,557,272	-$4,606,521 -$0	$7,950,751
19	$13,185,172	-$4,838,844 -$0	$8,346,328
20	$13,844,376	-$5,082,750 -$0	$8,761,626
21	$14,536,704	-$5,338,911 -$0	$9,197,793
22	$15,263,612	-$5,607,867 -$0	$9,655,745
23	$16,026,556	-$5,890,156 -$0	$10,136,400
24	$16,828,084	-$6,186,721 -$0	$10,641,363
25	$17,669,288	-$6,497,967 -$0	$11,171,321
26	$18,553,080	-$6,824,970 -$0	$11,728,110
27	$19,480,552	-$7,168,135 -$0	$12,312,417
28	$20,454,616	-$7,528,538 -$0	$12,926,078
29	$21,477,456	-$7,906,989 -$0	$13,570,467
30	$22,551,256	-$8,304,295 -$0	$14,246,961