Wyoming Lottery

WYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Oct 25, 2024 is estimated to be $229 Million, with a cash option of 107.4 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 MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Wyoming MEGA Millions Jackpot/Cash Option for Fri Oct 25, 2024

Draw Date	Jackpot	Cash Option
Fri Oct 25, 2024	$229,000,000	$107,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$107,400,000
Federal Tax(24%)	$25,776,000
Additional Federal Tax	$13,922,330
State Tax(0%)	$0
Net Lumpsum Payment	$67,701,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,446,679	-$1,235,602 -$0	$2,211,077
2	$3,619,116	-$1,299,403 -$0	$2,319,713
3	$3,800,026	-$1,366,340 -$0	$2,433,686
4	$3,990,096	-$1,436,666 -$0	$2,553,430
5	$4,189,555	-$1,510,466 -$0	$2,679,089
6	$4,399,090	-$1,587,994 -$0	$2,811,096
7	$4,618,930	-$1,669,334 -$0	$2,949,596
8	$4,849,991	-$1,754,827 -$0	$3,095,164
9	$5,092,502	-$1,844,556 -$0	$3,247,946
10	$5,347,150	-$1,938,776 -$0	$3,408,374
11	$5,614,393	-$2,037,656 -$0	$3,576,737
12	$5,895,147	-$2,141,535 -$0	$3,753,612
13	$6,189,870	-$2,250,582 -$0	$3,939,288
14	$6,499,478	-$2,365,137 -$0	$4,134,341
15	$6,824,429	-$2,485,369 -$0	$4,339,060
16	$7,165,639	-$2,611,617 -$0	$4,554,022
17	$7,523,795	-$2,744,135 -$0	$4,779,660
18	$7,900,042	-$2,883,346 -$0	$5,016,696
19	$8,295,067	-$3,029,505 -$0	$5,265,562
20	$8,709,786	-$3,182,951 -$0	$5,526,835
21	$9,145,344	-$3,344,108 -$0	$5,801,236
22	$9,602,657	-$3,513,313 -$0	$6,089,344
23	$10,082,641	-$3,690,908 -$0	$6,391,733
24	$10,586,899	-$3,877,483 -$0	$6,709,416
25	$11,116,118	-$4,073,294 -$0	$7,042,824
26	$11,672,130	-$4,279,018 -$0	$7,393,112
27	$12,255,622	-$4,494,911 -$0	$7,760,711
28	$12,868,426	-$4,721,648 -$0	$8,146,778
29	$13,511,916	-$4,959,739 -$0	$8,552,177
30	$14,187,466	-$5,209,693 -$0	$8,977,773