Wyoming Lottery

WYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Dec 27, 2024 is estimated to be $1.15 Billion, with a cash option of 516.1 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 Dec 27, 2024

Draw Date	Jackpot	Cash Option
Fri Dec 27, 2024	$1,150,000,000	$516,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$516,100,000
Federal Tax(24%)	$123,864,000
Additional Federal Tax	$67,053,330
State Tax(0%)	$0
Net Lumpsum Payment	$325,182,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$17,308,650	-$6,364,531 -$0	$10,944,119
2	$18,174,600	-$6,684,932 -$0	$11,489,668
3	$19,083,100	-$7,021,077 -$0	$12,062,023
4	$20,037,600	-$7,374,242 -$0	$12,663,358
5	$21,039,250	-$7,744,853 -$0	$13,294,397
6	$22,091,500	-$8,134,185 -$0	$13,957,315
7	$23,195,500	-$8,542,665 -$0	$14,652,835
8	$24,355,850	-$8,971,995 -$0	$15,383,855
9	$25,573,700	-$9,422,599 -$0	$16,151,101
10	$26,852,500	-$9,895,755 -$0	$16,956,745
11	$28,194,550	-$10,392,314 -$0	$17,802,236
12	$29,604,450	-$10,913,977 -$0	$18,690,473
13	$31,084,500	-$11,461,595 -$0	$19,622,905
14	$32,639,300	-$12,036,871 -$0	$20,602,429
15	$34,271,150	-$12,640,656 -$0	$21,630,494
16	$35,984,650	-$13,274,651 -$0	$22,709,999
17	$37,783,250	-$13,940,133 -$0	$23,843,117
18	$39,672,700	-$14,639,229 -$0	$25,033,471
19	$41,656,450	-$15,373,217 -$0	$26,283,233
20	$43,739,100	-$16,143,797 -$0	$27,595,303
21	$45,926,400	-$16,953,098 -$0	$28,973,302
22	$48,222,950	-$17,802,822 -$0	$30,420,128
23	$50,633,350	-$18,694,670 -$0	$31,938,680
24	$53,165,650	-$19,631,621 -$0	$33,534,029
25	$55,823,300	-$20,614,951 -$0	$35,208,349
26	$58,615,500	-$21,648,065 -$0	$36,967,435
27	$61,545,700	-$22,732,239 -$0	$38,813,461
28	$64,623,100	-$23,870,877 -$0	$40,752,223
29	$67,854,600	-$25,066,532 -$0	$42,788,068
30	$71,247,100	-$26,321,757 -$0	$44,925,343