Wyoming Lottery

WYLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Sep 25, 2023 is estimated to be $785 Million, with a cash option of 367 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 Mon Sep 25, 2023

Draw Date	Jackpot	Cash Option
Mon Sep 25, 2023	$785,000,000	$367,000,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$367,000,000
Federal Tax(24%)	$88,080,000
Additional Federal Tax	$47,670,330
State Tax(0%)	$0
Net Lumpsum Payment	$231,249,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$11,815,035	-$4,331,893 -$0	$7,483,142
2	$12,406,140	-$4,550,602 -$0	$7,855,538
3	$13,026,290	-$4,780,058 -$0	$8,246,232
4	$13,677,840	-$5,021,131 -$0	$8,656,709
5	$14,361,575	-$5,274,113 -$0	$9,087,462
6	$15,079,850	-$5,539,875 -$0	$9,539,975
7	$15,833,450	-$5,818,707 -$0	$10,014,743
8	$16,625,515	-$6,111,771 -$0	$10,513,744
9	$17,456,830	-$6,419,357 -$0	$11,037,473
10	$18,329,750	-$6,742,338 -$0	$11,587,412
11	$19,245,845	-$7,081,293 -$0	$12,164,552
12	$20,208,255	-$7,437,385 -$0	$12,770,870
13	$21,218,550	-$7,811,194 -$0	$13,407,356
14	$22,279,870	-$8,203,882 -$0	$14,075,988
15	$23,393,785	-$8,616,031 -$0	$14,777,754
16	$24,563,435	-$9,048,801 -$0	$15,514,634
17	$25,791,175	-$9,503,065 -$0	$16,288,110
18	$27,080,930	-$9,980,274 -$0	$17,100,656
19	$28,435,055	-$10,481,301 -$0	$17,953,754
20	$29,856,690	-$11,007,306 -$0	$18,849,384
21	$31,349,760	-$11,559,742 -$0	$19,790,018
22	$32,917,405	-$12,139,770 -$0	$20,777,635
23	$34,562,765	-$12,748,553 -$0	$21,814,212
24	$36,291,335	-$13,388,124 -$0	$22,903,211
25	$38,105,470	-$14,059,354 -$0	$24,046,116
26	$40,011,450	-$14,764,567 -$0	$25,246,883
27	$42,011,630	-$15,504,633 -$0	$26,506,997
28	$44,112,290	-$16,281,878 -$0	$27,830,412
29	$46,318,140	-$17,098,042 -$0	$29,220,098
30	$48,633,890	-$17,954,870 -$0	$30,679,020