Wyoming Lottery

WYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri May 31, 2024 is estimated to be $522 Million, with a cash option of 241.4 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 Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Wyoming MEGA Millions Jackpot/Cash Option for Fri May 31, 2024

Draw Date Jackpot Cash Option
Fri May 31, 2024$522,000,000$241,400,000

Lumpsum Option Taxes and Payment

Category Amount
Cash Gross Payment$241,400,000
Federal Tax(24%)$57,936,000
Additional Federal Tax$31,342,330
State Tax(0%)$0
Net Lumpsum Payment$152,121,670

Annuity Payment in 30 Installations

Year Gross Payment Fed/State Tax Net Payment
1 $7,856,622 -$2,867,281
-$0
$4,989,341
2 $8,249,688 -$3,012,715
-$0
$5,236,973
3 $8,662,068 -$3,165,296
-$0
$5,496,772
4 $9,095,328 -$3,325,602
-$0
$5,769,726
5 $9,549,990 -$3,493,827
-$0
$6,056,163
6 $10,027,620 -$3,670,550
-$0
$6,357,070
7 $10,528,740 -$3,855,964
-$0
$6,672,776
8 $11,055,438 -$4,050,842
-$0
$7,004,596
9 $11,608,236 -$4,255,378
-$0
$7,352,858
10 $12,188,700 -$4,470,149
-$0
$7,718,551
11 $12,797,874 -$4,695,544
-$0
$8,102,330
12 $13,437,846 -$4,932,333
-$0
$8,505,513
13 $14,109,660 -$5,180,905
-$0
$8,928,755
14 $14,815,404 -$5,442,030
-$0
$9,373,374
15 $15,556,122 -$5,716,096
-$0
$9,840,026
16 $16,333,902 -$6,003,874
-$0
$10,330,028
17 $17,150,310 -$6,305,945
-$0
$10,844,365
18 $18,007,956 -$6,623,274
-$0
$11,384,682
19 $18,908,406 -$6,956,441
-$0
$11,951,965
20 $19,853,748 -$7,306,217
-$0
$12,547,531
21 $20,846,592 -$7,673,569
-$0
$13,173,023
22 $21,889,026 -$8,059,270
-$0
$13,829,756
23 $22,983,138 -$8,464,091
-$0
$14,519,047
24 $24,132,582 -$8,889,386
-$0
$15,243,196
25 $25,338,924 -$9,335,732
-$0
$16,003,192
26 $26,606,340 -$9,804,676
-$0
$16,801,664
27 $27,936,396 -$10,296,797
-$0
$17,639,599
28 $29,333,268 -$10,813,640
-$0
$18,519,628
29 $30,800,088 -$11,356,363
-$0
$19,443,725
30 $32,339,988 -$11,926,126
-$0
$20,413,862
Cash Option: $241.4 Million
Next Draw: Fri May 31
Mega Millions
Tue May 28, 2024
121848576204

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