Wyoming Lottery

WYLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Sep 30, 2023 is estimated to be $925 Million, with a cash option of 432.4 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 Sep 30, 2023

Draw Date	Jackpot	Cash Option
Sat Sep 30, 2023	$925,000,000	$432,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$432,400,000
Federal Tax(24%)	$103,776,000
Additional Federal Tax	$56,172,330
State Tax(0%)	$0
Net Lumpsum Payment	$272,451,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$13,922,175	-$5,111,535 -$0	$8,810,640
2	$14,618,700	-$5,369,249 -$0	$9,249,451
3	$15,349,450	-$5,639,627 -$0	$9,709,823
4	$16,117,200	-$5,923,694 -$0	$10,193,506
5	$16,922,875	-$6,221,794 -$0	$10,701,081
6	$17,769,250	-$6,534,953 -$0	$11,234,297
7	$18,657,250	-$6,863,513 -$0	$11,793,737
8	$19,590,575	-$7,208,843 -$0	$12,381,732
9	$20,570,150	-$7,571,286 -$0	$12,998,864
10	$21,598,750	-$7,951,868 -$0	$13,646,882
11	$22,678,225	-$8,351,274 -$0	$14,326,951
12	$23,812,275	-$8,770,872 -$0	$15,041,403
13	$25,002,750	-$9,211,348 -$0	$15,791,402
14	$26,253,350	-$9,674,070 -$0	$16,579,280
15	$27,565,925	-$10,159,723 -$0	$17,406,202
16	$28,944,175	-$10,669,675 -$0	$18,274,500
17	$30,390,875	-$11,204,954 -$0	$19,185,921
18	$31,910,650	-$11,767,271 -$0	$20,143,379
19	$33,506,275	-$12,357,652 -$0	$21,148,623
20	$35,181,450	-$12,977,467 -$0	$22,203,983
21	$36,940,800	-$13,628,426 -$0	$23,312,374
22	$38,788,025	-$14,311,900 -$0	$24,476,125
23	$40,726,825	-$15,029,256 -$0	$25,697,569
24	$42,763,675	-$15,782,890 -$0	$26,980,785
25	$44,901,350	-$16,573,830 -$0	$28,327,520
26	$47,147,250	-$17,404,813 -$0	$29,742,437
27	$49,504,150	-$18,276,866 -$0	$31,227,284
28	$51,979,450	-$19,192,727 -$0	$32,786,723
29	$54,578,700	-$20,154,449 -$0	$34,424,251
30	$57,307,450	-$21,164,087 -$0	$36,143,363