Wyoming Lottery

WYLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Jun 15, 2024 is estimated to be $34 Million, with a cash option of 16 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 15, 2024

Draw Date Jackpot Cash Option
Sat Jun 15, 2024$34,000,000$16,000,000

Lumpsum Option Taxes and Payment

Category Amount
Cash Gross Payment$16,000,000
Federal Tax(24%)$3,840,000
Additional Federal Tax$2,040,330
State Tax(0%)$0
Net Lumpsum Payment$10,119,670

Annuity Payment in 30 Installations

Year Gross Payment Fed/State Tax Net Payment
1 $511,734 -$149,672
-$0
$362,062
2 $537,336 -$159,145
-$0
$378,191
3 $564,196 -$169,083
-$0
$395,113
4 $592,416 -$179,524
-$0
$412,892
5 $622,030 -$190,481
-$0
$431,549
6 $653,140 -$201,992
-$0
$451,148
7 $685,780 -$214,069
-$0
$471,711
8 $720,086 -$226,762
-$0
$493,324
9 $756,092 -$240,084
-$0
$516,008
10 $793,900 -$254,073
-$0
$539,827
11 $833,578 -$268,754
-$0
$564,824
12 $875,262 -$284,177
-$0
$591,085
13 $919,020 -$300,368
-$0
$618,652
14 $964,988 -$317,376
-$0
$647,612
15 $1,013,234 -$335,227
-$0
$678,007
16 $1,063,894 -$353,971
-$0
$709,923
17 $1,117,070 -$373,646
-$0
$743,424
18 $1,172,932 -$394,315
-$0
$778,617
19 $1,231,582 -$416,016
-$0
$815,566
20 $1,293,156 -$438,798
-$0
$854,358
21 $1,357,824 -$462,725
-$0
$895,099
22 $1,425,722 -$487,848
-$0
$937,874
23 $1,496,986 -$514,215
-$0
$982,771
24 $1,571,854 -$541,916
-$0
$1,029,938
25 $1,650,428 -$570,989
-$0
$1,079,439
26 $1,732,980 -$601,533
-$0
$1,131,447
27 $1,819,612 -$633,587
-$0
$1,186,025
28 $1,910,596 -$667,251
-$0
$1,243,345
29 $2,006,136 -$702,601
-$0
$1,303,535
30 $2,106,436 -$739,712
-$0
$1,366,724
Cash Option: $16 Million
Next Draw: Sat Jun 15
Powerball
Wed Jun 12, 2024
193031616221

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