Wyoming Lottery

WYLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Dec 28, 2024 is estimated to be $145 Million, with a cash option of 66.2 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 28, 2024

Draw Date	Jackpot	Cash Option
Sat Dec 28, 2024	$145,000,000	$66,200,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$66,200,000
Federal Tax(24%)	$15,888,000
Additional Federal Tax	$8,566,330
State Tax(0%)	$0
Net Lumpsum Payment	$41,745,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,182,395	-$767,817 -$0	$1,414,578
2	$2,291,580	-$808,215 -$0	$1,483,365
3	$2,406,130	-$850,598 -$0	$1,555,532
4	$2,526,480	-$895,128 -$0	$1,631,352
5	$2,652,775	-$941,857 -$0	$1,710,918
6	$2,785,450	-$990,947 -$0	$1,794,503
7	$2,924,650	-$1,042,451 -$0	$1,882,199
8	$3,070,955	-$1,096,584 -$0	$1,974,371
9	$3,224,510	-$1,153,399 -$0	$2,071,111
10	$3,385,750	-$1,213,058 -$0	$2,172,692
11	$3,554,965	-$1,275,667 -$0	$2,279,298
12	$3,732,735	-$1,341,442 -$0	$2,391,293
13	$3,919,350	-$1,410,490 -$0	$2,508,860
14	$4,115,390	-$1,483,025 -$0	$2,632,365
15	$4,321,145	-$1,559,154 -$0	$2,761,991
16	$4,537,195	-$1,639,093 -$0	$2,898,102
17	$4,763,975	-$1,723,001 -$0	$3,040,974
18	$5,002,210	-$1,811,148 -$0	$3,191,062
19	$5,252,335	-$1,903,694 -$0	$3,348,641
20	$5,514,930	-$2,000,854 -$0	$3,514,076
21	$5,790,720	-$2,102,897 -$0	$3,687,823
22	$6,080,285	-$2,210,036 -$0	$3,870,249
23	$6,384,205	-$2,322,486 -$0	$4,061,719
24	$6,703,495	-$2,440,624 -$0	$4,262,871
25	$7,038,590	-$2,564,609 -$0	$4,473,981
26	$7,390,650	-$2,694,871 -$0	$4,695,779
27	$7,760,110	-$2,831,571 -$0	$4,928,539
28	$8,148,130	-$2,975,138 -$0	$5,172,992
29	$8,555,580	-$3,125,895 -$0	$5,429,685
30	$8,983,330	-$3,284,162 -$0	$5,699,168