Wyoming Lottery

WYLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Jun 1, 2024 is estimated to be $161 Million, with a cash option of 75.2 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 Jun 1, 2024

Draw Date Jackpot Cash Option
Sat Jun 1, 2024$161,000,000$75,200,000

Lumpsum Option Taxes and Payment

Category Amount
Cash Gross Payment$75,200,000
Federal Tax(24%)$18,048,000
Additional Federal Tax$9,736,330
State Tax(0%)$0
Net Lumpsum Payment$47,415,670

Annuity Payment in 30 Installations

Year Gross Payment Fed/State Tax Net Payment
1 $2,423,211 -$856,918
-$0
$1,566,293
2 $2,544,444 -$901,775
-$0
$1,642,669
3 $2,671,634 -$948,835
-$0
$1,722,799
4 $2,805,264 -$998,278
-$0
$1,806,986
5 $2,945,495 -$1,050,164
-$0
$1,895,331
6 $3,092,810 -$1,104,670
-$0
$1,988,140
7 $3,247,370 -$1,161,857
-$0
$2,085,513
8 $3,409,819 -$1,221,963
-$0
$2,187,856
9 $3,580,318 -$1,285,048
-$0
$2,295,270
10 $3,759,350 -$1,351,290
-$0
$2,408,060
11 $3,947,237 -$1,420,808
-$0
$2,526,429
12 $4,144,623 -$1,493,841
-$0
$2,650,782
13 $4,351,830 -$1,570,507
-$0
$2,781,323
14 $4,569,502 -$1,651,046
-$0
$2,918,456
15 $4,797,961 -$1,735,576
-$0
$3,062,385
16 $5,037,851 -$1,824,335
-$0
$3,213,516
17 $5,289,655 -$1,917,503
-$0
$3,372,152
18 $5,554,178 -$2,015,376
-$0
$3,538,802
19 $5,831,903 -$2,118,134
-$0
$3,713,769
20 $6,123,474 -$2,226,016
-$0
$3,897,458
21 $6,429,696 -$2,339,318
-$0
$4,090,378
22 $6,751,213 -$2,458,279
-$0
$4,292,934
23 $7,088,669 -$2,583,138
-$0
$4,505,531
24 $7,443,191 -$2,714,311
-$0
$4,728,880
25 $7,815,262 -$2,851,977
-$0
$4,963,285
26 $8,206,170 -$2,996,613
-$0
$5,209,557
27 $8,616,398 -$3,148,398
-$0
$5,468,000
28 $9,047,234 -$3,307,807
-$0
$5,739,427
29 $9,499,644 -$3,475,199
-$0
$6,024,445
30 $9,974,594 -$3,650,930
-$0
$6,323,664
Cash Option: $75.2 Million
Next Draw: Sat Jun 1
Powerball
Wed May 29, 2024
173456606109

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