Wyoming Lottery

WYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jan 24, 2025 is estimated to be $28 Million, with a cash option of 12.5 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 Jan 24, 2025

Draw Date	Jackpot	Cash Option
Fri Jan 24, 2025	$28,000,000	$12,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$12,500,000
Federal Tax(24%)	$3,000,000
Additional Federal Tax	$1,585,330
State Tax(0%)	$0
Net Lumpsum Payment	$7,914,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$421,428	-$116,259 -$0	$305,169
2	$442,512	-$124,060 -$0	$318,452
3	$464,632	-$132,244 -$0	$332,388
4	$487,872	-$140,843 -$0	$347,029
5	$512,260	-$149,867 -$0	$362,393
6	$537,880	-$159,346 -$0	$378,534
7	$564,760	-$169,292 -$0	$395,468
8	$593,012	-$179,745 -$0	$413,267
9	$622,664	-$190,716 -$0	$431,948
10	$653,800	-$202,236 -$0	$451,564
11	$686,476	-$214,327 -$0	$472,149
12	$720,804	-$227,028 -$0	$493,776
13	$756,840	-$240,361 -$0	$516,479
14	$794,696	-$254,368 -$0	$540,328
15	$834,428	-$269,069 -$0	$565,359
16	$876,148	-$284,505 -$0	$591,643
17	$919,940	-$300,708 -$0	$619,232
18	$965,944	-$317,730 -$0	$648,214
19	$1,014,244	-$335,601 -$0	$678,643
20	$1,064,952	-$354,363 -$0	$710,589
21	$1,118,208	-$374,067 -$0	$744,141
22	$1,174,124	-$394,756 -$0	$779,368
23	$1,232,812	-$416,471 -$0	$816,341
24	$1,294,468	-$439,284 -$0	$855,184
25	$1,359,176	-$463,226 -$0	$895,950
26	$1,427,160	-$488,380 -$0	$938,780
27	$1,498,504	-$514,777 -$0	$983,727
28	$1,573,432	-$542,500 -$0	$1,030,932
29	$1,652,112	-$571,612 -$0	$1,080,500
30	$1,734,712	-$602,174 -$0	$1,132,538