Wyoming Lottery

WYLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Apr 20, 2024 is estimated to be $98 Million, with a cash option of 45.8 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 Apr 20, 2024

Draw Date Jackpot Cash Option
Sat Apr 20, 2024$98,000,000$45,800,000

Lumpsum Option Taxes and Payment

Category Amount
Cash Gross Payment$45,800,000
Federal Tax(24%)$10,992,000
Additional Federal Tax$5,914,330
State Tax(0%)$0
Net Lumpsum Payment$28,893,670

Annuity Payment in 30 Installations

Year Gross Payment Fed/State Tax Net Payment
1 $1,474,998 -$506,080
-$0
$968,918
2 $1,548,792 -$533,383
-$0
$1,015,409
3 $1,626,212 -$562,029
-$0
$1,064,183
4 $1,707,552 -$592,125
-$0
$1,115,427
5 $1,792,910 -$623,707
-$0
$1,169,203
6 $1,882,580 -$656,885
-$0
$1,225,695
7 $1,976,660 -$691,695
-$0
$1,284,965
8 $2,075,542 -$728,281
-$0
$1,347,261
9 $2,179,324 -$766,680
-$0
$1,412,644
10 $2,288,300 -$807,001
-$0
$1,481,299
11 $2,402,666 -$849,317
-$0
$1,553,349
12 $2,522,814 -$893,772
-$0
$1,629,042
13 $2,648,940 -$940,438
-$0
$1,708,502
14 $2,781,436 -$989,462
-$0
$1,791,974
15 $2,920,498 -$1,040,915
-$0
$1,879,583
16 $3,066,518 -$1,094,942
-$0
$1,971,576
17 $3,219,790 -$1,151,653
-$0
$2,068,137
18 $3,380,804 -$1,211,228
-$0
$2,169,576
19 $3,549,854 -$1,273,776
-$0
$2,276,078
20 $3,727,332 -$1,339,443
-$0
$2,387,889
21 $3,913,728 -$1,408,410
-$0
$2,505,318
22 $4,109,434 -$1,480,821
-$0
$2,628,613
23 $4,314,842 -$1,556,822
-$0
$2,758,020
24 $4,530,638 -$1,636,666
-$0
$2,893,972
25 $4,757,116 -$1,720,463
-$0
$3,036,653
26 $4,995,060 -$1,808,503
-$0
$3,186,557
27 $5,244,764 -$1,900,893
-$0
$3,343,871
28 $5,507,012 -$1,997,925
-$0
$3,509,087
29 $5,782,392 -$2,099,815
-$0
$3,682,577
30 $6,071,492 -$2,206,782
-$0
$3,864,710
Cash Option: $45.8 Million
Next Draw: Sat Apr 20
Powerball
Wed Apr 17, 2024
242944475402

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