Wyoming Lottery

WYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Sep 29, 2023 is estimated to be $267 Million, with a cash option of 123.6 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 Fri Sep 29, 2023

Draw Date	Jackpot	Cash Option
Fri Sep 29, 2023	$267,000,000	$123,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$123,600,000
Federal Tax(24%)	$29,664,000
Additional Federal Tax	$16,028,330
State Tax(0%)	$0
Net Lumpsum Payment	$77,907,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,018,617	-$1,447,219 -$0	$2,571,398
2	$4,219,668	-$1,521,608 -$0	$2,698,060
3	$4,430,598	-$1,599,652 -$0	$2,830,946
4	$4,652,208	-$1,681,647 -$0	$2,970,561
5	$4,884,765	-$1,767,693 -$0	$3,117,072
6	$5,129,070	-$1,858,086 -$0	$3,270,984
7	$5,385,390	-$1,952,925 -$0	$3,432,465
8	$5,654,793	-$2,052,604 -$0	$3,602,189
9	$5,937,546	-$2,157,222 -$0	$3,780,324
10	$6,234,450	-$2,267,077 -$0	$3,967,373
11	$6,546,039	-$2,382,365 -$0	$4,163,674
12	$6,873,381	-$2,503,481 -$0	$4,369,900
13	$7,217,010	-$2,630,624 -$0	$4,586,386
14	$7,577,994	-$2,764,188 -$0	$4,813,806
15	$7,956,867	-$2,904,371 -$0	$5,052,496
16	$8,354,697	-$3,051,568 -$0	$5,303,129
17	$8,772,285	-$3,206,076 -$0	$5,566,209
18	$9,210,966	-$3,368,388 -$0	$5,842,578
19	$9,671,541	-$3,538,801 -$0	$6,132,740
20	$10,155,078	-$3,717,709 -$0	$6,437,369
21	$10,662,912	-$3,905,608 -$0	$6,757,304
22	$11,196,111	-$4,102,891 -$0	$7,093,220
23	$11,755,743	-$4,309,955 -$0	$7,445,788
24	$12,343,677	-$4,527,491 -$0	$7,816,186
25	$12,960,714	-$4,755,795 -$0	$8,204,919
26	$13,608,990	-$4,995,657 -$0	$8,613,333
27	$14,289,306	-$5,247,374 -$0	$9,041,932
28	$15,003,798	-$5,511,736 -$0	$9,492,062
29	$15,754,068	-$5,789,336 -$0	$9,964,732
30	$16,541,718	-$6,080,766 -$0	$10,460,952