Wyoming Lottery

WYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Oct 18, 2024 is estimated to be $185 Million, with a cash option of 88.4 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 MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Wyoming MEGA Millions Jackpot/Cash Option for Fri Oct 18, 2024

Draw Date	Jackpot	Cash Option
Fri Oct 18, 2024	$185,000,000	$88,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$88,400,000
Federal Tax(24%)	$21,216,000
Additional Federal Tax	$11,452,330
State Tax(0%)	$0
Net Lumpsum Payment	$55,731,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,784,435	-$990,571 -$0	$1,793,864
2	$2,923,740	-$1,042,114 -$0	$1,881,626
3	$3,069,890	-$1,096,190 -$0	$1,973,700
4	$3,223,440	-$1,153,003 -$0	$2,070,437
5	$3,384,575	-$1,212,623 -$0	$2,171,952
6	$3,553,850	-$1,275,255 -$0	$2,278,595
7	$3,731,450	-$1,340,967 -$0	$2,390,483
8	$3,918,115	-$1,410,033 -$0	$2,508,082
9	$4,114,030	-$1,482,521 -$0	$2,631,509
10	$4,319,750	-$1,558,638 -$0	$2,761,112
11	$4,535,645	-$1,638,519 -$0	$2,897,126
12	$4,762,455	-$1,722,439 -$0	$3,040,016
13	$5,000,550	-$1,810,534 -$0	$3,190,016
14	$5,250,670	-$1,903,078 -$0	$3,347,592
15	$5,513,185	-$2,000,209 -$0	$3,512,976
16	$5,788,835	-$2,102,199 -$0	$3,686,636
17	$6,078,175	-$2,209,255 -$0	$3,868,920
18	$6,382,130	-$2,321,718 -$0	$4,060,412
19	$6,701,255	-$2,439,795 -$0	$4,261,460
20	$7,036,290	-$2,563,758 -$0	$4,472,532
21	$7,388,160	-$2,693,950 -$0	$4,694,210
22	$7,757,605	-$2,830,644 -$0	$4,926,961
23	$8,145,365	-$2,974,115 -$0	$5,171,250
24	$8,552,735	-$3,124,842 -$0	$5,427,893
25	$8,980,270	-$3,283,030 -$0	$5,697,240
26	$9,429,450	-$3,449,227 -$0	$5,980,223
27	$9,900,830	-$3,623,637 -$0	$6,277,193
28	$10,395,890	-$3,806,810 -$0	$6,589,080
29	$10,915,740	-$3,999,154 -$0	$6,916,586
30	$11,461,490	-$4,201,082 -$0	$7,260,408