Wyoming Lottery

WYLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Dec 9, 2023 is estimated to be $468 Million, with a cash option of 220.3 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 Dec 9, 2023

Draw Date	Jackpot	Cash Option
Sat Dec 9, 2023	$468,000,000	$220,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$220,300,000
Federal Tax(24%)	$52,872,000
Additional Federal Tax	$28,599,330
State Tax(0%)	$0
Net Lumpsum Payment	$138,828,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$7,043,868	-$2,566,562 -$0	$4,477,306
2	$7,396,272	-$2,696,951 -$0	$4,699,321
3	$7,765,992	-$2,833,747 -$0	$4,932,245
4	$8,154,432	-$2,977,470 -$0	$5,176,962
5	$8,562,060	-$3,128,293 -$0	$5,433,767
6	$8,990,280	-$3,286,734 -$0	$5,703,546
7	$9,439,560	-$3,452,968 -$0	$5,986,592
8	$9,911,772	-$3,627,686 -$0	$6,284,086
9	$10,407,384	-$3,811,062 -$0	$6,596,322
10	$10,927,800	-$4,003,616 -$0	$6,924,184
11	$11,473,956	-$4,205,694 -$0	$7,268,262
12	$12,047,724	-$4,417,988 -$0	$7,629,736
13	$12,650,040	-$4,640,845 -$0	$8,009,195
14	$13,282,776	-$4,874,958 -$0	$8,407,818
15	$13,946,868	-$5,120,672 -$0	$8,826,196
16	$14,644,188	-$5,378,680 -$0	$9,265,508
17	$15,376,140	-$5,649,502 -$0	$9,726,638
18	$16,145,064	-$5,934,004 -$0	$10,211,060
19	$16,952,364	-$6,232,705 -$0	$10,719,659
20	$17,799,912	-$6,546,298 -$0	$11,253,614
21	$18,690,048	-$6,875,648 -$0	$11,814,400
22	$19,624,644	-$7,221,449 -$0	$12,403,195
23	$20,605,572	-$7,584,392 -$0	$13,021,180
24	$21,636,108	-$7,965,690 -$0	$13,670,418
25	$22,717,656	-$8,365,863 -$0	$14,351,793
26	$23,853,960	-$8,786,296 -$0	$15,067,664
27	$25,046,424	-$9,227,507 -$0	$15,818,917
28	$26,298,792	-$9,690,883 -$0	$16,607,909
29	$27,613,872	-$10,177,463 -$0	$17,436,409
30	$28,994,472	-$10,688,285 -$0	$18,306,187