Wyoming Lottery

WYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jul 16, 2024 is estimated to be $226 Million, with a cash option of 106.9 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 Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Wyoming MEGA Millions Jackpot/Cash Option for Tue Jul 16, 2024

Draw Date Jackpot Cash Option
Tue Jul 16, 2024$226,000,000$106,900,000

Lumpsum Option Taxes and Payment

Category Amount
Cash Gross Payment$106,900,000
Federal Tax(24%)$25,656,000
Additional Federal Tax$13,857,330
State Tax(0%)$0
Net Lumpsum Payment$67,386,670

Annuity Payment in 30 Installations

Year Gross Payment Fed/State Tax Net Payment
1 $3,401,526 -$1,218,895
-$0
$2,182,631
2 $3,571,704 -$1,281,861
-$0
$2,289,843
3 $3,750,244 -$1,347,921
-$0
$2,402,323
4 $3,937,824 -$1,417,325
-$0
$2,520,499
5 $4,134,670 -$1,490,158
-$0
$2,644,512
6 $4,341,460 -$1,566,671
-$0
$2,774,789
7 $4,558,420 -$1,646,946
-$0
$2,911,474
8 $4,786,454 -$1,731,318
-$0
$3,055,136
9 $5,025,788 -$1,819,872
-$0
$3,205,916
10 $5,277,100 -$1,912,857
-$0
$3,364,243
11 $5,540,842 -$2,010,442
-$0
$3,530,400
12 $5,817,918 -$2,112,960
-$0
$3,704,958
13 $6,108,780 -$2,220,579
-$0
$3,888,201
14 $6,414,332 -$2,333,633
-$0
$4,080,699
15 $6,735,026 -$2,452,290
-$0
$4,282,736
16 $7,071,766 -$2,576,884
-$0
$4,494,882
17 $7,425,230 -$2,707,665
-$0
$4,717,565
18 $7,796,548 -$2,845,053
-$0
$4,951,495
19 $8,186,398 -$2,989,298
-$0
$5,197,100
20 $8,595,684 -$3,140,733
-$0
$5,454,951
21 $9,025,536 -$3,299,779
-$0
$5,725,757
22 $9,476,858 -$3,466,768
-$0
$6,010,090
23 $9,950,554 -$3,642,035
-$0
$6,308,519
24 $10,448,206 -$3,826,167
-$0
$6,622,039
25 $10,970,492 -$4,019,412
-$0
$6,951,080
26 $11,519,220 -$4,222,442
-$0
$7,296,778
27 $12,095,068 -$4,435,506
-$0
$7,659,562
28 $12,699,844 -$4,659,273
-$0
$8,040,571
29 $13,334,904 -$4,894,245
-$0
$8,440,659
30 $14,001,604 -$5,140,924
-$0
$8,860,680
Cash Option: $106.9 Million
Next Draw: Tue Jul 16
Mega Millions
Fri Jul 12, 2024
153548536808

Wyoming Lottery | Select a State Lottery